OTTAWA (dpa-AFX) - Magna International Inc. (MG.TO, MGA) reaffirmed the midpoint of its 2026 outlook for adjusted EPS. Adjusted EPS is now projected in a range of $6.85 - $7.15, revised from previous guidance range of $6.70 - $7.30. Total sales are now anticipated in a range of $41.2 - $42.0 billion, revised from prior guidance of $41.3 - $42.5 billion. Compared to previous outlook, sales have been updated primarily to reflect lower expected vehicle production in China and the unfavourable impacts of program mix.
Net income attributable to Magna was $383 million for the third quarter of 2026 compared to $305 million in the third quarter of 2025. Excluding items, net income attributable to Magna was $486 million in the third quarter of 2026 compared to $375 million in the third quarter of 2025. Diluted earnings per share were $1.44, an increase of 33% from the comparable period. Adjusted EPS were $1.83, compared to $1.33, last year, an increase of 38%. Sales decreased 4% to $10.1 billion, reflecting lower light vehicle production and impact of divestitures.
On October 29, Board of Directors declared a third quarter dividend of $0.495 per common share. The dividend is payable on November 27, 2026, to shareholders of record as of the close of business on November 13, 2026. The Board approved a new Normal Course Issuer Bid to purchase up to 25.8 million of common shares, representing approximately 10% of public float. This NCIB is expected to be effective on November 9, 2026 and will terminate no later than November 8, 2027.
At last close on NYSE, Magna International shares were trading at $64.70.
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