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Magna (MGA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Magna (MGA - Free Report) reported $10.98 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 17.3%. EPS of $1.50 for the same period compares to $0.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.2 billion, representing a surprise of +7.69%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $1.25.
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: $4.54 billion compared to the $4.36 billion average estimate based on four analysts.
Sales- Power & Vision: $3.46 billion versus the four-analyst average estimate of $3.31 billion.
Sales- Complete Vehicles: $1.53 billion versus $1.25 billion estimated by four analysts on average.
Sales- Corporate and Other: -$149 million versus the four-analyst average estimate of -$170.08 million.
Sales- Seating Systems: $1.60 billion compared to the $1.42 billion average estimate based on four analysts. The reported number represents a change of +27.9% year over year.
Adjusted EBIT- Body Exteriors & Structures: $392 million versus the four-analyst average estimate of $266.80 million.
Adjusted EBIT- Power & Vision: $116 million versus $148.78 million estimated by four analysts on average.
Adjusted EBIT- Corporate & Other: -$5 million compared to the -$7.44 million average estimate based on four analysts.
Adjusted EBIT- Complete Vehicles: $34 million versus $38.12 million estimated by four analysts on average.
Adjusted EBIT- Seating Systems: $66 million versus $38.45 million estimated by four analysts on average.
Shares of Magna have returned +9.2% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Magna (MGA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Magna (MGA - Free Report) reported $10.98 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 17.3%. EPS of $1.50 for the same period compares to $0.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.2 billion, representing a surprise of +7.69%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $1.25.
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: $4.54 billion compared to the $4.36 billion average estimate based on four analysts.
- Sales- Power & Vision: $3.46 billion versus the four-analyst average estimate of $3.31 billion.
- Sales- Complete Vehicles: $1.53 billion versus $1.25 billion estimated by four analysts on average.
- Sales- Corporate and Other: -$149 million versus the four-analyst average estimate of -$170.08 million.
- Sales- Seating Systems: $1.60 billion compared to the $1.42 billion average estimate based on four analysts. The reported number represents a change of +27.9% year over year.
- Adjusted EBIT- Body Exteriors & Structures: $392 million versus the four-analyst average estimate of $266.80 million.
- Adjusted EBIT- Power & Vision: $116 million versus $148.78 million estimated by four analysts on average.
- Adjusted EBIT- Corporate & Other: -$5 million compared to the -$7.44 million average estimate based on four analysts.
- Adjusted EBIT- Complete Vehicles: $34 million versus $38.12 million estimated by four analysts on average.
- Adjusted EBIT- Seating Systems: $66 million versus $38.45 million estimated by four analysts on average.
View all Key Company Metrics for Magna here>>>Shares of Magna have returned +9.2% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.