Why Is Magna International Stock Gaining On Friday? - Magna International (NYSE:MGA)

The company also outlined its outlook for the year ahead, pairing an earnings view above expectations with a reduced sales forecast.Quarterly MetricsThe company reported fourth-quarter adjusted earnings per share of $2.18, beating the analyst consensus estimate of $1.79. Quarterly sales of $10.84 billion (+2% year over year) outpaced the Street view of $10.495 billion.Quarterly revenues rose despite a 1% decline in global light vehicle production.Magna International said that the higher sales largely reflec ...