Magna International (MGA) Tops Q1 EPS by 15c, Beats on Revenues; Boosts FY18 Revenue Outlook

Magna International (NYSE: MGA) reported Q1 EPS of $1.84, $0.15 better than the analyst estimate of $1.69. Revenue for the quarter came in at $10.79 billion versus the consensus estimate of $10.05 billion.

• Record quarterly sales, up 21% year over year to $10.79 billion
• Record quarterly diluted earnings per share of $1.83, increased 21%
• Cash provided from operating activities of $577 million, up 26%, a first quarter record
• Paid dividends of $118 million and returned $103 million to shareholders through share repurchases
• Increased full year outlook for sales and net income attributable to Magna

GUIDANCE:

Magna International sees FY2018 revenue of $40.9-43.1 billion, versus the consensus of $40.7 billion.

For earnings history and earnings-related data on Magna International (MGA) click here.

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