Magna International Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 10,280 million compared to USD 10,688 million a year ago. Net income was USD 484 million compared to USD 394 million a year ago. Basic earnings per share from continuing operations was USD 1.68 compared to USD 1.37 a year ago. Diluted earnings per share from continuing operations was USD 1.68 compared to USD 1.37 a year ago.
For the nine months, sales was USD 32,208 million compared to USD 32,343 million a year ago. Net income was USD 806 million compared to USD 942 million a year ago. Basic earnings per share from continuing operations was USD 2.81 compared to USD 3.29 a year ago. Diluted earnings per share from continuing operations was USD 2.81 compared to USD 3.29 a year ago.
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 and software capabilities across many of these areas. Its segments include Body Exteriors & Structures; Power & Vision; Seating Systems, and Complete Vehicles. Its products include Battery Enclosures, Body-in-White Solutions, Chassis Systems, ADAS and automated driving, control modules, active aerodynamics, exterior systems and modules, lighting, mechatronics, mirrors, electrified powertrain products, Complete Vehicle Engineering and others. Its global network includes approximately 343 manufacturing operations and 105 product development, engineering and sales centers spanning 28 countries.
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