Magna Shares Rise 12% Since Q3 Earnings Miss Expectations

Shares of Magna International (MGA) gained 11.7% since the company reported third-quarter 2024 results. The auto equipment provider reported adjusted earnings of $1.28 per share, which declined from the year-ago quarter’s $1.46 and missed the Zacks Consensus Estimate of $1.48. Net sales declined 3.8% year over year to $10.3 billion and missed the Zacks Consensus Estimate of $10.6 billion.Stay up-to-date with the quarterly releases: See Zacks Earnings Calendar.Segmental PerformanceThe Body Exteriors & Struct ...