Auto parts company Magna International lowers guidance, reports US$484-million quarterly profit [Globe and Mail, The (Toronto, Canada)]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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Source: Globe and Mail, The
The Ontario-based auto parts company, which keeps its books in U.S. dollars, says the profit amounted to US$1.68 per diluted share for the three months ended Sept. 30, compared with US$1.37 per diluted share a year earlier. Sales for the quarter totalled US$10.28-billion, down from US$10.69-billion in the same quarter last year. On an adjusted basis, Magna says it earned US$1.28 per diluted share, down from an adjusted profit of US$1.46 per diluted share a year earlier. In its outlook, Magna says it now expects total sales for 2024 between US$42.2-billion and US$43.2-billion, compared with earlier expectations for between US$42.5-billion and US$44.1-billion. The company, which reduced its expectations for light vehicle production around the world, also says it now expects adjusted net income attributable to Magna of US$1.45-billion to US$1.55-billion for 2024, down from earlier guidance for between US$1.5-billion and US$1.7-billion. Sign up for our new Business Brief newsle
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MGA
Earnings
- 11/1/24 - Miss
MGA
Sec Filings
- 11/5/24 - Form 6-K
- 11/1/24 - Form 6-K
- 11/1/24 - Form 6-K
- MGA's page on the SEC website