- Magna International press release ( NYSE: MGA ): Q3 Non-GAAP EPS of $1.07 misses by $0.05 .
- Revenue of $9.3B (+17.7% Y/Y) beats by $150M .
- Adjusted EBIT increased to $441M in the third quarter of 2022 compared to $229M in the third quarter of 2021.
- FY22 reduced outlook mainly reflects expected lower vehicle production in North America and Europe and higher operating inefficiencies : Total Sales of $37.4 - $38.4 billion vs. consensus of $37.76B; Adjusted EBIT Margin of 4.8% - 5.0%; Net Income attributable to Magna of $1.3 - $1.4 billion; Capital Spending of ~$1.7B.
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Magna International reports mixed Q3 earnings; narrows FY22 guidance