Analyst Note
| Richard Hilgert |No-moat Magna International reported fourth-quarter EPS before special items of $2.83, trouncing the $2.06 FactSet consensus EPS by $0.77 and up $1.42 from the $1.41 EPS reported a year ago. Revenue, which increased 12% year over year to $10.6 billion from $9.4 billion, also beat the FactSet top-line $10.2 billion consensus. The increase in revenue represented 6 percentage points of outperformance compared with global light-vehicle production weighted to Magna’s customer base.