Magna International (MGA) Misses Q1 EPS by 31c

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Go back to Magna International (MGA) Misses Q1 EPS by 31c

Magna Announces First Quarter 2022 Results

April 29, 2022 5:00 AM EDT

Global light vehicle production was down 7%, largely due to 16% decrease in EuropeSales of $9.6 billion decreased 5%Diluted earnings per share and adjusted diluted earnings per share decreased 40% and 31%, respectivelyReduced 2022 outlook to reflect expected lower light vehicle production assumptions and an increase in production input costs

AURORA, Ontario, April 29, 2022 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31, 2022.

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