2023-08-04 05:13:03 ET
- Magna International press release ( NYSE: MGA ): Q2 Non-GAAP EPS of $1.50 beats by $0.28 .
- Revenue of $11B (+17.5% Y/Y) beats by $630M .
- Adjusted EBIT increased to $603 million in the second quarter of 2023 compared to $358 million in the second quarter of 2022.
- Raised 2023 outlook for Total Sales, Adjusted EBIT Margin and Adjusted Net Income attributable to Magna : Total Sales of $41.9 - $43.5 billion vs. consensus of $41.67B; Adjusted EBIT Margin of 4.8% - 5.2%; Income Tax Rate of Approximately 21%; Adjusted Net Income attributable to Magna of $1.4 - $1.6 billion; Capital Spending of Approximately $2.5 billion
For further details see:
Magna International beats Q2 top and bottom line estimates; raises FY23 outlook