Magna International Q3 Profit Rises to $383 Million Despite 3.9% Revenue Decline

Magna International Inc. (MG.TO) reported third-quarter earnings of $383 million, or $1.44 per share, up from $305 million, or $1.08 per share, in the same period last year. Excluding items, the auto parts supplier posted adjusted earnings of $486 million, or $1.83 per share. Revenue fell 3.9% to $10.059 billion from $10.462 billion a year earlier. The company reiterated full-year EPS guidance of $6.85 to $7.15 and revenue guidance of $41.2 billion to $42.0 billion.