Magna International (MGA) Tops Q4 EPS by 8c, Revenues Beat; Offers FY20 Revenue Guidance

Magna International (NYSE: MGA) reported Q4 EPS of $1.41, $0.08 better than the analyst estimate of $1.33. Revenue for the quarter came in at $9.4 billion versus the consensus estimate of $9.17 billion.

GUIDANCE:

Magna International sees FY2020 revenue of $38-40 billion, versus the consensus of $39.33 billion.

Our 2020 outlook remains unchanged from the outlook provided in our January 16, 2020 press release. We have not included any adjustment to our outlook related to COVID-19 (coronavirus), as it is difficult to forecast when our customers’ facilities in China will be fully operational, their ability to recover lost production, the risk of supply chain disruptions in the event that Chinese factories are unable to resume normal operations promptly, any adverse impact on the economy in China and/or the possibility that the economies of other regions could be adversely impacted by any further COVID-19-related slowdown in China.

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

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