News

For the quarter ended December 2023, Magna (MGA) reported revenue of $10.45 billion, up 9.3% over the same period last year. EPS came in at $1.33, compared to $0.91 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $10.44 billion, representing a surprise of +0.11%. The company delivered an EPS surprise of -8.90%, with the consensus EPS estimate being $1.46.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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: $4.18 billion versus $4.20 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
• Sales- Power & Vision: $3.78 billion versus $3.73 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +25.2% change.
• Sales- Complete Vehicles: $1.20 billion versus the four-analyst average estimate of $1.20 billion. The reported number represents a year-over-year change of -9.7%.
• Sales- Corporate and Other: -$129 million compared to the -$126.52 million average estimate based on four analysts. The reported number represents a change of +1.6% year over year.
• Sales- Seating Systems: $1.43 billion compared to the $1.43 billion average estimate based on four analysts. The reported number represents a change of +6.3% year over year.
• Adjusted EBIT- Body Exteriors & Structures: $280 million versus $286.17 million estimated by four analysts on average.
• Adjusted EBIT- Power & Vision: $231 million versus $205.58 million estimated by four analysts on average.
• Adjusted EBIT- Corporate & Other: -$40 million versus -$15.83 million estimated by four analysts on average.
• Adjusted EBIT- Complete Vehicles: $43 million versus the four-analyst average estimate of $30.63 million.
• Adjusted EBIT- Seating Systems: $44 million versus $60.21 million estimated by four analysts on average.

View all Key Company Metrics for Magna here>>>

Shares of Magna have returned +3.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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