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Universal International's Q4 sales and profits exceeded expectations
Investing.com – Magna International’s reported fourth-quarter sales exceeded analyst expectations, with revenue increasing by 2.1% year-over-year.
The auto parts supplier announced fourth-quarter sales of $10.85 billion, surpassing the Bloomberg consensus estimate of $10.52 billion.
Adjusted earnings per share were $2.18, up from $1.69 in the same period last year, also exceeding the $1.80 forecast.
The company’s adjusted EBIT reached $814 million, an 18% increase from the same period last year. This figure also surpassed analyst estimates of $747.5 million.
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