LONDON, UK / ACCESSWIRE / December 26, 2017 / Active-Investors.com has just released a free earnings report on Magna International Inc. (NYSE: MGA).If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MGA. Magna International posted its third quarter fiscal 2017 (Q3 FY17) results on November 09, 2017. The leading auto parts maker's diluted earnings per share advanced 5.47% y-o-y. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Magna International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

In Q3 FY17, Magna's revenues advanced 7.35% to $9.50 billion compared to $8.85 billion in Q3 FY16. Revenue numbers topped analysts' estimates of $9.05 billion.

The Company had operating income of $670.00 million in the reported quarter compared to $692.00 million in Q3 FY16, declining by 3.18%.

Magna's net income was $503.00 million in Q3 FY17, same as in Q3 FY16. The Company's diluted earnings were $1.36 per share in the reported quarter compared to $1.29 per share in Q3 FY16, advancing 5.43% on a y-o-y basis. Diluted EPS was $1.36 per share, surpassing analysts' estimates of $1.34 per share.

Magna's Segment Details

The North America segment posted sales of $4.89 billion in Q3 FY17 compared to $5.11 billion in Q3 FY16, reflecting a decline of 4.24% on a y-o-y basis, due to lower production volumes, end of production of certain programs. This segment's adjusted earnings before interest and tax (EBIT) was $463.00 million in Q3 FY17, compared to $512.00 million in Q3 FY16, declining by 9.57%, due to lower production sales, net customer concessions.

The Company's Europe segment had revenues of $3.90 billion in the reported quarter compared to $3.10 billion in Q3 FY16, advancing 25.73% due to the launch of new programs and strengthening of foreign currencies against the US dollar. The segment's adjusted EBIT was $113.00 million in Q3 FY17 compared to $115.00 million in Q3 FY16, declining by 1.74% on a y-o-y basis due to operational inefficiencies, higher commodity costs, and reduced earnings.

The Asia segment had revenues of $676.00 million in Q3 FY17 compared to $654.00 million in Q3 FY16, reflecting a growth of 3.36%, due to launch of new programs, and higher production volumes. This segment's adjusted EBIT was $77.00 million in the reported quarter compared to $64.00 million in Q3 FY16, advancing 20.31% due to higher equity income and higher margins.

The Company's Rest of World segment had revenues of $161.00 million in Q3 FY17 compared to $129.00 million in Q3 FY16, reflecting a growth of 24.81%, due to higher production volumes on certain existing programs, launch of new programs, and net customer price increases. The segment's adjusted EBIT was $14.00 million in the reported quarter compared to a negative adjusted EBIT of $5.00 million in Q3 FY16, due to net customer price increases.

The Corporate and Other segment had negative revenues of $130.00 million in the reported quarter compared to negative revenue of $145.00 million in Q3 FY16. The segment's adjusted EBIT was $25.00 million in Q3 FY17 compared to $29.00 million in Q3 FY16, declining 13.79% on a y-o-y basis, due to higher net foreign exchange losses.

Cash Matters

Magna had cash and cash equivalents of $895.00 million on September 30, 2017, compared to $544.00 million on September 30, 2016. The Company had cash inflow from operating activities of $881.00 million in Q3 FY17 compared to $657.00 million in Q3 FY16. In Q3 FY17, the Company repurchased 8.70 million common shares for a cash consideration of $422.00 million. Magna paid cash dividends of $0.275 per share in Q3 FY17, for a total of $99.00 million, payable on December 08, 2017, to shareholders of record as of November 24, 2017.

Outlook

In fiscal 2017, Magna anticipates full-year revenues in the range of $38.30 billion to $39.50 billion.

Stock Performance Snapshot

December 22, 2017 - At Friday's closing bell, Magna International's stock marginally declined 0.80%, ending the trading session at $57.37.

Volume traded for the day: 442.03 thousand shares.

Stock performance in the last month ? up 6.01%; previous three-month period ? up 7.58%; past twelve-month period ? up 30.48%; and year-to-date ? up 32.19%

After last Friday's close, Magna International's market cap was at $20.77 billion.

Price to Earnings (P/E) ratio was at 10.23.

The stock has a dividend yield of 1.92%.

The stock is part of the Services sector, categorized under the Auto Parts Wholesale industry. This sector was flat at the end of the session.

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