Magna International (TSE:MG) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$10.3b (down 3.8% from 3Q 2023).

• Net income: US$484.0m (up 23% from 3Q 2023).

• Profit margin: 4.7% (up from 3.7% in 3Q 2023).

• EPS: US$1.69 (up from US$1.38 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Magna International EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Auto Components industry in North America.

Performance of the market in Canada.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Magna International that you need to take into consideration.

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