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.

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