Magna International beats Q1 profit and sales estimates
Magna reported adjusted profit of $1.38 per share on $10.4 billion in sales. It lowered its annual revenue outlook citing tariff costs and EV market shifts.
MAGNA INTERNATIONAL INC reported Q1 profit of $1.38 per share, beating LSEG estimates of $1.01 as sales rose 3% to $10.4 billion. Strong foreign exchange and resilient parts demand offset lower vehicle production and the end of specific manufacturing programs. While operational efficiency remains high, cooling electric vehicle demand and trade tariffs are forcing a lower full-year revenue outlook.
Sales reached $10.4 billion during the quarter ended March 31, exceeding the $10.25 billion expected by LSEG. Adjusted earnings of $1.38 per share outperformed the $1.01 forecast. Magna cited resilient demand for advanced driver-aid systems as a primary driver for the quarterly beat.
