Magna International says its margins for 2022 will be lower than expected

The auto parts company says its adjusted earnings before interest and taxes margin is expected to be about 4.3 per cent for 2022.

The ratio of adjusted EBIT to total sales is below the range of 4.8 to 5.0 per cent expected in its November outlook for the year.The company had expected sales in the range of US$37.4-billion to US$38.4-billion. Magna is scheduled to report its full financial results for its fourth quarter and full year on Feb. 10.Your Globe

Their margins are lower than expected-boo whoo! People struggle just to survive day to day but a corporation’s PROFIT reduction is major news

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