AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported a loss of $1 million in its fourth quarter.
On a per-share basis, the Aurora, Ontario-based company said it had a loss of less than 1 cent. Earnings, adjusted for non-recurring costs and amortization costs, came to $2.18 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The automotive supply company posted revenue of $10.85 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $10.48 billion.
For the year, the company reported profit of $829 million, or $2.93 per share. Revenue was reported as $42.01 billion.
Magna expects full-year earnings in the range of $6.25 to $7.25 per share, with revenue in the range of $41.9 billion to $43.5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGA at https://www.zacks.com/ap/MGA
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