Magna 2Q Revenue Hits Record High; $55 FVE Unchanged, Canadian FVE Reduced to CAD 69 on Currency
No-moat Magna, automotive supplier of body, chassis, exterior, powertrain, and seating systems, reported record earnings per share before special items for the second quarter of 2017 of $1.49, up $0.08 compared with the same period last year and $0.02 ahead of the consensus EPS. Revenue growth was a solid 3%, rising to a record $9.7 billion compared with $9.4 billion in the prior year. Excluding a minor negative currency effect, revenue would have increased by 4%. However, consolidated EBIT marg...Magna is a global automotive supplier whose product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Co.'s operations are segmented on a geographic basis. Co.'s segments consist of North America, Europe, Asia and Rest of World.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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