AURORA, ONTARIO – Magna International Inc. says its second quarter profit rose from last year and it revised slightly up its outlook for the year, despite tariff costs and lower industry-wide vehicle production in North America and Europe.
The automotive manufacturer says its net income for the three months ending June 30 was US$379 million, or $1.35 per diluted share, up from US$313 million or $1.09 per share in the same quarter last year.
Earnings worked out to $1.44 per adjusted diluted share, up from $1.35 per share in the same quarter last year.
The mean analyst estimate had been for earnings of $1.14 per share, according to LSEG Data & Analytics.
Chief executive Swamy Kotagiri says the company’s results exceeded expectations and reflect ongoing performance initiatives, offsetting industry headwinds including soft volumes in some regions and continued trade policy uncertainty.
Magna says sales totalled US$10.63 billion in the quarter, down from US$10.96 billion in the same quarter last year, as light vehicle production was down six per cent in North America and two per cent in Europe and the company ended production of some programs.
The company’s revised outlook for the year shows a dip in overall North American vehicle production but increased output in China, while it boosted its sales outlook by US$400 million to upwards of US$42 billion.
This report by The Canadian Press was first published Aug. 1, 2025.
Companies in this story: (TSX:MG)
