MGA - What's Going On With Magna Shares After Incurring $316M Charges Related To Fisker In Q1? | Benzinga
Magna International, Inc. (NYSE:MGA) shares fall in the premarket session after reporting first-quarter results.
The company reported adjusted earnings per share of $1.08, missing the street view of $1.25.
The company recorded asset impairments and restructuring totaling $316 million related to Fisker Inc. (OTC:FSRN).
Lower volumes in the Complete Vehicles segment and the net weakening of foreign currencies against the U.S. dollar affected quarterly performance.
However, quarterly revenues ...