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Here's What Key Metrics Tell Us About Magna (MGA) Q3 Earnings
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Magna (MGA - Free Report) reported $10.69 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 15.3%. EPS of $1.46 for the same period compares to $1.07 a year ago.
The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $10.36 billion. With the consensus EPS estimate being $1.37, the EPS surprise was +6.57%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Magna performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Body Exteriors & Structures: $4.35 billion versus the four-analyst average estimate of $4.34 billion.
Sales- Power & Vision: $3.75 billion versus $3.56 billion estimated by four analysts on average.
Sales- Complete Vehicles: $1.19 billion versus the four-analyst average estimate of $1.19 billion.
Sales- Corporate and Other: -$125 million versus -$143.80 million estimated by four analysts on average.
Sales- Seating Systems: $1.53 billion versus the four-analyst average estimate of $1.40 billion. The reported number represents a year-over-year change of +18.1%.
Adjusted EBIT- Body Exteriors & Structures: $358 million versus the four-analyst average estimate of $317.48 million.
Adjusted EBIT- Power & Vision: $221 million versus $153.97 million estimated by four analysts on average.
Adjusted EBIT- Corporate & Other: -$29 million versus -$8.07 million estimated by four analysts on average.
Adjusted EBIT- Seating Systems: $70 million versus $47.78 million estimated by four analysts on average.
Adjusted EBIT- Complete Vehicles: -$5 million compared to the $18.29 million average estimate based on three analysts.
Shares of Magna have returned -6.2% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Magna (MGA) Q3 Earnings
Magna (MGA - Free Report) reported $10.69 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 15.3%. EPS of $1.46 for the same period compares to $1.07 a year ago.
The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $10.36 billion. With the consensus EPS estimate being $1.37, the EPS surprise was +6.57%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Magna performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Body Exteriors & Structures: $4.35 billion versus the four-analyst average estimate of $4.34 billion.
- Sales- Power & Vision: $3.75 billion versus $3.56 billion estimated by four analysts on average.
- Sales- Complete Vehicles: $1.19 billion versus the four-analyst average estimate of $1.19 billion.
- Sales- Corporate and Other: -$125 million versus -$143.80 million estimated by four analysts on average.
- Sales- Seating Systems: $1.53 billion versus the four-analyst average estimate of $1.40 billion. The reported number represents a year-over-year change of +18.1%.
- Adjusted EBIT- Body Exteriors & Structures: $358 million versus the four-analyst average estimate of $317.48 million.
- Adjusted EBIT- Power & Vision: $221 million versus $153.97 million estimated by four analysts on average.
- Adjusted EBIT- Corporate & Other: -$29 million versus -$8.07 million estimated by four analysts on average.
- Adjusted EBIT- Seating Systems: $70 million versus $47.78 million estimated by four analysts on average.
- Adjusted EBIT- Complete Vehicles: -$5 million compared to the $18.29 million average estimate based on three analysts.
View all Key Company Metrics for Magna here>>>Shares of Magna have returned -6.2% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.