SPY397.37+3.48 0.88%
DIA321.28+1.89 0.59%
IXIC11,434.74+170.29 1.51%

BRIEF-Magna International Says Q1 Earnings Per Share $1.22

reuters.com · 04/29/2022 05:08
BRIEF-Magna International Says Q1 Earnings Per Share $1.22

- Magna International Inc MGA:

  • SEES 2022 LIGHT VEHICLE PRODUCTION OF 14.7 MILLION UNITS IN NORTH AMERICA

  • MAGNA ANNOUNCES FIRST QUARTER 2022 RESULTS

  • Q1 SALES FELL 5 PERCENT TO $9.6 BILLION

  • Q1 EARNINGS PER SHARE $1.22

  • MAGNA INTERNATIONAL - REDUCED 2022 OUTLOOK TO REFLECT EXPECTED LOWER LIGHT VEHICLE PRODUCTION ASSUMPTIONS AND AN INCREASE IN PRODUCTION INPUT COSTS

  • QTRLY GLOBAL LIGHT VEHICLE PRODUCTION WAS DOWN 7%, LARGELY DUE TO 16% DECREASE IN EUROPE

  • FOR 2022 SEES TOTAL SALES $37.3 - $38.9 BILLION

  • QTRLY ADJUSTED NON-GAAP EPS $1.28

  • Q1 EARNINGS PER SHARE VIEW $1.12, REVENUE VIEW $9.09 BILLION -- REFINITIV IBES DATA

  • SEES 2022 LIGHT VEHICLE PRODUCTION IN CHINA AT 24.4 MILLION UNITS

  • SEES 2022 EUROPE LIGHT VEHICLE PRODUCTION AT 16.4 MILLION UNITS

Source text for Eikon: [ID: nGNX8ysQgl]

Further company coverage: MGA


((Reuters.Briefs@thomsonreuters.com;))