Shares of Magna International (NYSE: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%.
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