Business · Companies · 2 hrs ago
Magna’s third-quarter profit rises as sales fall
Canadian auto parts maker Magna International reported higher third-quarter profit for the three months ended September 30, 2026.
Its net income was US$383 million, compared with US$305 million in the same quarter a year earlier.
Sales slipped to US$10.06 billion from US$10.46 billion.
Magna said lower production of light vehicles and the impact of divestitures reduced sales.
Adjusted earnings per share rose to US$1.83 from US$1.33, and the company said its adjusted operating margin also improved.
Magna returned US$658 million to shareholders through dividends and share repurchases during the quarter.
The company reaffirmed its full-year adjusted earnings outlook midpoint and raised its free cash flow outlook, while its board approved a plan to buy back up to 10% of its public float over the next 12 months.
Magna International reported third-quarter 2026 adjusted earnings of US$1.83 per share, up from US$1.33 a year earlier.
The company increased its full-year free cash flow outlook and reaffirmed the midpoint of its adjusted earnings-per-share outlook.
Net income attributable to Magna rose to US$383 million from US$305 million.
Sales fell to US$10.06 billion from US$10.46 billion, reflecting lower light vehicle production and divestitures.
Magna returned US$658 million to shareholders through dividends and share repurchases during the quarter.
- Who
- Magna International Inc.
- What
- It reported higher third-quarter adjusted earnings and increased its free cash flow outlook.
- When
- Results were reported on October 30, 2026, for the quarter ended September 30.
- Where
- Aurora, Ontario, according to the company announcement.
- Why
- Sales declined because of lower light vehicle production and the impact of divestitures.
This story does not have two clearly opposing sides.
Magna's third-quarter reporting period ended.
Magna announced its third-quarter results and increased its free cash flow outlook.
- Adjusted EPS
- US$1.83, up from US$1.33 a year earlier
- Net income
- US$383 million, compared with US$305 million
- Sales
- US$10.06 billion, down from US$10.46 billion
- Shareholder returns
- US$658 million through dividends and share repurchases
- Adjusted EBIT
- US$683 million, up 11%; margin expanded 90 basis points to 6.8%