Magna International (TSE:MG) Full Year 2023 Results
Key Financial Results
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Revenue: US$42.8b (up 13% from FY 2022).
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Net income: US$1.21b (up 105% from FY 2022).
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Profit margin: 2.8% (up from 1.6% in FY 2022). The increase in margin was driven by higher revenue.
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EPS: US$4.24 (up from US$2.04 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Magna International EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%.
Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Auto Components industry in North America.
Performance of the market in Canada.
The company’s shares are down 4.1% from a week ago.
Balance Sheet Analysis
While it’s very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We’ve done some analysis and you can see our take on Magna International’s balance sheet.
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