Magna International (MGA) Tops Q3 EPS by 5c, Revenues Miss; Lowers FY18 Revenue Mid-Point Outlook

Magna International (NYSE: MGA) reported Q3 EPS of $1.56, $0.05 better than the analyst estimate of $1.51. Revenue for the quarter came in at $9.62 billion versus the consensus estimate of $9.7 billion.

“We remain confident in our cash flow expectations, despite somewhat softer global vehicle production. Over the past eight years we have returned over $9.8 billion to shareholders, including through the repurchase of our shares for $7.3 billion. Our new NCIB provides flexibility to repurchase additional shares over the next year.” - Vince Galifi, Magna’s Chief Financial Officer

GUIDANCE:

Magna International sees FY2018 revenue of $40.3-41.4 billion, versus the consensus of $41.21 billion.

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

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