Magna (MGA) Shares Fall 7.9% Since Q2 Earnings Miss Estimates

Shares of Magna International (MGA) have lost 7.9% since the company reported second-quarter 2024 results. The auto equipment provider reported adjusted earnings of $1.35 per share, which declined from the year-ago quarter's $1.50 and missed the Zacks Consensus Estimate of $1.46. Net sales remained flat year over year at $11 billion and missed the Zacks Consensus Estimate of $11.11 billion. Segmental Performance The Body Exteriors & Structures segment's revenues were $4.47 billion, down 2% year over year. T ...