- Magna International ( NYSE: MGA ) has reported prelim sales of ~$37.8B for 2022, compared to its guidance of $37.4B to $38.4B.
- Analysts project the firm to generate $4.57 EPS on revenue of $37.79B for the year .
- However, adj. EBIT margin is expected to be ~4.3%, which is below the company's 4.8%-5% guidance. The reduced margin reflects decreased contribution on lower sales, higher net engineering expense, operating underperformance at certain facilities, higher net warranty costs and higher labor and other operational inefficiencies.
- Adjusted net income attributable to Magna ( MGA ) is also impacted by the factors above.
- The firm is scheduled to report its financial results for the fourth quarter and full year 2022 on Feb. 10, 2023.
For further details see:
Magna guides 2022 EBIT margin below prior estimates