Magna International (MGA) Reports Q4 Loss, Beats EPS and Revenue Estimates

Magna International Inc. (MGA) reported a Q4 loss of $1 million, or less than $0.01 per share, with adjusted earnings of $2.18 per share, exceeding the $1.81 per share average estimate from three Zacks analysts. Revenue of $10.85 billion surpassed forecasts of $10.48 billion. For the year, profit was $829 million, or $2.93 per share, on revenue of $42.01 billion. The company expects full-year earnings of $6.25 to $7.25 per share and revenue of $41.9 billion to $43.5 billion.