Bullboard - Stock Discussion Forum Magna International Inc T.MG

Alternate Symbol(s): MGA

Consumer Cyclical Auto Parts

Magna International Inc. is a Canada-based mobility technology company. The Company is a global automotive supplier that has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. It also has electronic... see more

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Magna International Inc > Third Quarter 2021 Results

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Post by Betteryear2 on Nov 09, 2021 11:37am

Third Quarter 2021 Results

Sales decreased 13% to $7.9 billion, reflecting a global light vehicle production decrease of 12%, including decreases of 20% in Europe, 19% in North America and 12% in China
Diluted earnings per share and adjusted diluted earnings per share of $0.04 and $0.56, respectively, compared to $1.35 and $1.95 last year
Results negatively impacted by lower light vehicle production substantially due to continued industry semiconductor chip shortages, production inefficiencies driven by unpredictable OEM production schedules, increased production and commodity costs and a provision on engineering service contracts

AURORA, Ontario, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2021.

Please click HERE for full third quarter Financial Statements and MD&A.

https://www.globenewswire.com/en/news-release/2021/11/05/2328305/0/en/Magna-Announces-Third-Quarter-2021-Results.html

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