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Compared to Estimates, Magna (MGA) Q1 Earnings: A Look at Key Metrics
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Magna (MGA - Free Report) reported $10.67 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 10.7%. EPS of $1.11 for the same period compares to $1.28 a year ago.
The reported revenue represents a surprise of +5.50% over the Zacks Consensus Estimate of $10.12 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +16.84%.
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: $4.44 billion versus $4.19 billion estimated by four analysts on average.
Sales- Power & Vision: $3.32 billion versus $3.13 billion estimated by four analysts on average.
Sales- Complete Vehicles: $1.63 billion versus the four-analyst average estimate of $1.28 billion.
Sales- Corporate and Other: -$201 million versus -$130.60 million estimated by four analysts on average.
Sales- Seating Systems: $1.49 billion compared to the $1.42 billion average estimate based on four analysts. The reported number represents a change of +8% year over year.
Adjusted EBIT- Body Exteriors & Structures: $270 million versus the three-analyst average estimate of $216.73 million.
Adjusted EBIT- Power & Vision: $84 million versus $133.55 million estimated by three analysts on average.
Adjusted EBIT- Corporate & Other: -$5 million versus -$4.97 million estimated by three analysts on average.
Adjusted EBIT- Complete Vehicles: $52 million compared to the $36.33 million average estimate based on three analysts.
Adjusted EBIT- Seating Systems: $36 million compared to the $23.97 million average estimate based on three analysts.
Shares of Magna have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Magna (MGA) Q1 Earnings: A Look at Key Metrics
Magna (MGA - Free Report) reported $10.67 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 10.7%. EPS of $1.11 for the same period compares to $1.28 a year ago.
The reported revenue represents a surprise of +5.50% over the Zacks Consensus Estimate of $10.12 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +16.84%.
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: $4.44 billion versus $4.19 billion estimated by four analysts on average.
- Sales- Power & Vision: $3.32 billion versus $3.13 billion estimated by four analysts on average.
- Sales- Complete Vehicles: $1.63 billion versus the four-analyst average estimate of $1.28 billion.
- Sales- Corporate and Other: -$201 million versus -$130.60 million estimated by four analysts on average.
- Sales- Seating Systems: $1.49 billion compared to the $1.42 billion average estimate based on four analysts. The reported number represents a change of +8% year over year.
- Adjusted EBIT- Body Exteriors & Structures: $270 million versus the three-analyst average estimate of $216.73 million.
- Adjusted EBIT- Power & Vision: $84 million versus $133.55 million estimated by three analysts on average.
- Adjusted EBIT- Corporate & Other: -$5 million versus -$4.97 million estimated by three analysts on average.
- Adjusted EBIT- Complete Vehicles: $52 million compared to the $36.33 million average estimate based on three analysts.
- Adjusted EBIT- Seating Systems: $36 million compared to the $23.97 million average estimate based on three analysts.
View all Key Company Metrics for Magna here>>>Shares of Magna have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.