Magna International: Q2 Earnings Insights

Shares of Magna International MGA moved higher by 2.8% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 207.55% over the past year to ($1.71), which missed the estimate of ($1.63).

Revenue of $4,293,000,000 declined by 57.60% year over year, which beat the estimate of $4,140,000,000.

Looking Ahead

The upcoming fiscal year's revenue expected to be between $30,000,000,000 and $32,000,000,000.

Conference Call Details

Date: Aug 07, 2020

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/i7wdcq9n

Price Action

52-week high: $57.09

Company's 52-week low was at $22.75

Price action over last quarter: Up 27.24%

Company Description

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly. Roughly half of Magna's revenue comes from North America while Europe accounts for approximately 44%.