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Auto parts company Magna International lowers guidance, reports US$484-million quarterly profit

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Magna says the profit amounted to US$1.68 per diluted share for the three months ended Sept. 30, compared with US$1.37 per diluted share a year earlier

cut its guidance for its full year as it reported net income attributable to the company of US$484-million for its third quarter, up from US$394-million a year earlier.

Sales for the quarter totalled US$10.28-billion, down from US$10.69-billion in the same quarter last year.

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Auto parts company Magna International reports US$484M Q3 profit, lowers guidanceTORONTO — Magna International Inc. cut its guidance for its full year as it reported net income attributable to the company of US$484 million for its third quarter, up from US$394 million a year earlier.
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