Magna reports adjusted profit up from year ago, lowers sales outlook
Magna International reported a net loss of US$12 million in its latest quarter compared to a profit of US$146 million the previous year, though adjusted earnings improved to US$1.38 per share from 78 cents a year ago. Sales for the quarter increased slightly to US$10.38 billion from US$10.07 billion. The company lowered its sales outlook for 2026, now expecting between US$41.5 billion and US$43.1 billion, down from its prior forecast.
- ▪Magna reported a net loss of US$12 million in the quarter compared to a profit of US$146 million a year earlier.
- ▪Adjusted earnings were US$1.38 per share, up from US$0.78 per share in the same quarter last year.
- ▪Quarterly sales rose to US$10.38 billion from US$10.07 billion in the first quarter of 2025.
- ▪Magna lowered its 2026 sales outlook to between US$41.5 billion and US$43.1 billion from a previous range of US$41.9 billion to US$43.5 billion.
- ▪Magna operates in 28 countries and is one of the world’s largest automotive suppliers.
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Open this photo in gallery:A worker in a Magna plant in Puebla, Mexico, in 2015.Brett Gundlock/ Boreal CollectivShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountMagna International Inc. MG-T reported a loss attributable to the company of US$12-million in its latest quarter compared with a profit of US$146-million a year earlier.The Ontario-based automotive supplier, which keeps its books in U.S. dollars, says the loss amounted to 4 US cents per diluted share for the quarter ended March 31 compared with a profit of 52 US cents per diluted share a year ago.On an adjusted basis, Magna says it earned US$1.38 per share in its latest quarter compared with an adjusted profit of 78 US cents per share a year earlier.Sales totalled US$10.38-billion for the quarter,…
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