Magna Announces Third Quarter 2020 Results

• Sales of $9.1 billion decreased 2%, compared to 4% lower global light vehicle production
• Recorded non-cash impairment charges of $200 million after income taxes and loss attributable to non-controlling interests related to our investment in an equity accounted transmissions joint venture
• Diluted earnings per share of $1.35, compared to diluted loss per share of $0.75 in the third quarter of 2019
• Adjusted diluted earnings per share of $1.95, 38% higher than the third quarter of 2019
• Cash from operating activities of $1.6 billion, compared to $750 million in the third quarter of 2019
• 2020 Outlook increased to reflect higher total Sales and Adjusted EBIT margin expectations

Click HERE for a PDF version of the release.

Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2020. Please click HERE for full third quarter Financial Statements and MD&A.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein

Proprietary Rights


You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.