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Profits Up as Magna Declares a Stock Split
Magna International Inc.'s revenue in the fourth quarter of 2014 advanced 2% to $9.4 billion, and adjusted earnings before interest and taxes jumped 17% to $712 million.
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Magna International Inc.'s revenue in the fourth quarter of 2014 advanced 2% to $9.4 billion, and adjusted earnings before interest and taxes jumped 17% to $712 million.
Full-year results for the Detroit-based axle supplier saw sales climb to $36.6 billion from $34.8 billion in 2013. Adjusted EBIT surged 27% to $2.6 billion.
Magna attributes the improvement to stronger vehicle production and gains in all reporting segments. The company announced a two-for-one stock split, payable on March 25.
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