Magna reports Q3 adjusted EPS $1.46 vs. $1.10 last year

Reports Q3 revenue $10.69B vs. $9.27B last year. The company said, “We posted sales of $10.7 billion for the third quarter of 2023, an increase of 15% over the third quarter of 2022, which compares to global light vehicle production that increased 4%, including 7% and 14% higher production in North America and Europe, respectively, and 2% lower production in China. Excluding the impact of foreign currency translation and acquisitions net of divestitures, sales increased 10%, largely reflecting the launch of new programs and higher global light vehicle production.”