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Auto parts company Magna International reports Q3 profit up from year ago
Adjusted earnings rose to US$1.83 a share as lower light-vehicle production and divestitures weighed on Magna’s revenue.
- On Friday, October 30, 2026, Magna International Inc. reported third-quarter profit rose to US$383 million, or US$1.44 per diluted share, despite lower sales for the quarter ended September 30.
- Sales for the quarter totaled US$10.06 billion, down from US$10.46 billion a year earlier, as lower light vehicle production and divestitures drove the decline.
- On an adjusted basis, Magna earned US$1.83 per share in the latest quarter, up from an adjusted profit of US$1.33 per share a year earlier.
- Compared with the same quarter last year, the company earned US$305 million, or US$1.08 per diluted share, reflecting improved profitability despite revenue headwinds.
- Magna International CEO Swamy Kotagiri previously addressed industry trends at the 2026 Ontario Auto Forum in Toronto; the TSX-listed company navigates challenging market conditions.
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Total News Sources10
Leaning Left7Leaning Right0Center2Last UpdatedBias Distribution78% Left
Bias Distribution
- 78% of the sources lean Left
78% Left
L 78%
C 22%
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