The company reported adjusted earnings of $1.86 per share, beating the consensus estimate of $1.61. That was up from $1.44 per share a year earlier.
Revenue increased to $10.98 billion from $10.63 billion a year ago, exceeding analysts’ expectations of $10.70 billion. Adjusted EBIT rose 16% year over year to $677 million from $583 million.
Magna raised its full-year 2026 adjusted earnings guidance to a range of $6.70 to $7.30 per share, up from its prior forecast of $6.25 to $7.25 per share. Analysts were expecting full-year adjusted earnings of $6.71 per share.
The company, however, lowered its full-year sales outlook to between $41.3 billion and $42.5 billion from its previous range of $41.5 billion to $43.1 billion. Wall Street expects full-year revenue of about $42.51 billion.
Management Commentary
