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AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported fourth-quarter earnings of $95 million.
The Aurora, Ontario-based company said it had profit of 33 cents per share. Earnings, adjusted for non-recurring costs, came to 91 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The automotive supply company posted revenue of $9.57 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $9.47 billion.
For the year, the company reported profit of $592 million, or $2.03 per share. Revenue was reported as $37.84 billion.
Magna expects full-year revenue in the range of $39.6 billion to $41.2 billion.
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