Magna International (TSE:MG) Third Quarter 2022 Results
Key Financial Results
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Revenue: US$9.27b (up 17% from 3Q 2021).
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Net income: US$289.0m (up by US$278.0m from 3Q 2021).
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Profit margin: 3.1% (up from 0.1% in 3Q 2021).
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EPS: US$1.00 (up from US$0.037 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Magna International Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 11%.
Looking ahead, revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Auto Components industry in Canada.
Performance of the Canadian Auto Components industry.
The company’s shares are down 1.1% from a week ago.
Risk Analysis
What about risks? Every company has them, and we’ve spotted 3 warning signs for Magna International you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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