Magna reports Q3 profit and sales up, trims forecast for full year - News Summed Up

Magna reports Q3 profit and sales up, trims forecast for full year


AURORA, ONT.—Magna International Inc. reported its third-quarter profit grew compared with a year ago as revenue also climbed higher, but the auto parts maker trimmed the outlook for the year. Magna International Inc. logo is seen prior to the company’s annual general meeting to begin in Toronto on May 10, 2013. Magna reported its third-quarter profit grew compared with a year ago as revenue also climbed higher, but the auto parts maker trimmed the outlook for the year. However, Magna lowered its expectations for 2018 light vehicle production in North America to 17 million units, compared with its earlier forecast of 17.2 million. The forecast for European production was lowered to 22.5 million from 22.6 million.


Source: thestar November 08, 2018 13:30 UTC



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