Magna: Q4 Earnings Snapshot

Associated Press Finance
1 min read
0
In this article:

AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported fourth-quarter earnings of $271 million.

The Aurora, Ontario-based company said it had net income of 94 cents per share. Earnings, adjusted for non-recurring costs, were $1.33 per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The automotive supply company posted revenue of $10.45 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $10.44 billion.

For the year, the company reported profit of $1.21 billion, or $4.23 per share. Revenue was reported as $42.8 billion.

Magna expects full-year revenue in the range of $43.8 billion to $45.4 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGA at https://www.zacks.com/ap/MGA

Advertisement

Recommended Stories