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Magna (MGA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, Magna (MGA - Free Report) reported revenue of $10.97 billion, up 2.8% over the same period last year. EPS came in at $1.08, compared to $1.11 in the year-ago quarter.
The reported revenue represents a surprise of -0.46% over the Zacks Consensus Estimate of $11.02 billion. With the consensus EPS estimate being $1.28, the EPS surprise was -15.63%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $4.43 billion versus $4.48 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
Sales- Power & Vision: $3.84 billion versus the three-analyst average estimate of $3.77 billion. The reported number represents a year-over-year change of +15.6%.
Sales- Complete Vehicles: $1.38 billion compared to the $1.50 billion average estimate based on three analysts. The reported number represents a change of -14.9% year over year.
Sales- Corporate and Other: -$139 million versus the three-analyst average estimate of -$143 million. The reported number represents a year-over-year change of -30.9%.
Sales- Seating Systems: $1.46 billion compared to the $1.44 billion average estimate based on three analysts. The reported number represents a change of -2.1% year over year.
Adjusted EBIT- Body Exteriors & Structures: $298 million versus $300.18 million estimated by three analysts on average.
Adjusted EBIT- Power & Vision: $98 million versus $158.53 million estimated by three analysts on average.
Adjusted EBIT- Seating Systems: $52 million versus the three-analyst average estimate of $45.62 million.
Adjusted EBIT- Complete Vehicles: $27 million versus the three-analyst average estimate of $20.09 million.
Adjusted EBIT- Corporate & Other: -$6 million versus -$11.87 million estimated by two analysts on average.
Shares of Magna have returned -7.4% over the past month versus the Zacks S&P 500 composite's -2.7% 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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Magna (MGA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, Magna (MGA - Free Report) reported revenue of $10.97 billion, up 2.8% over the same period last year. EPS came in at $1.08, compared to $1.11 in the year-ago quarter.
The reported revenue represents a surprise of -0.46% over the Zacks Consensus Estimate of $11.02 billion. With the consensus EPS estimate being $1.28, the EPS surprise was -15.63%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $4.43 billion versus $4.48 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
- Sales- Power & Vision: $3.84 billion versus the three-analyst average estimate of $3.77 billion. The reported number represents a year-over-year change of +15.6%.
- Sales- Complete Vehicles: $1.38 billion compared to the $1.50 billion average estimate based on three analysts. The reported number represents a change of -14.9% year over year.
- Sales- Corporate and Other: -$139 million versus the three-analyst average estimate of -$143 million. The reported number represents a year-over-year change of -30.9%.
- Sales- Seating Systems: $1.46 billion compared to the $1.44 billion average estimate based on three analysts. The reported number represents a change of -2.1% year over year.
- Adjusted EBIT- Body Exteriors & Structures: $298 million versus $300.18 million estimated by three analysts on average.
- Adjusted EBIT- Power & Vision: $98 million versus $158.53 million estimated by three analysts on average.
- Adjusted EBIT- Seating Systems: $52 million versus the three-analyst average estimate of $45.62 million.
- Adjusted EBIT- Complete Vehicles: $27 million versus the three-analyst average estimate of $20.09 million.
- Adjusted EBIT- Corporate & Other: -$6 million versus -$11.87 million estimated by two analysts on average.
View all Key Company Metrics for Magna here>>>Shares of Magna have returned -7.4% over the past month versus the Zacks S&P 500 composite's -2.7% 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.