Magna International reports US$305M Q3 profit, sales up from year ago

A Magna logo is shown in Milton, Ont. on Saturday, March 24, 2023. THE CANADIAN PRESS/Staff

TORONTO - Magna International Inc. reported US$305 million in net income attributable to the company, down from US$484 million in the same quarter last year.

The auto parts company, which keeps its books in U.S. dollars, says the profit amounted to US$1.08 per diluted share for the quarter ended Sept. 30 compared with US$1.68 per diluted share a year earlier.

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