Mexican Media Brands
Magna’s Second-Quarter Profits Fall 28%
Magna International Inc. posted a slight decline in revenue and a 28% drop in net income for the second quarter of 2019.
#economics
Share
Magna International Inc. posted a slight decline in revenue and a 28% drop in net income for the second quarter of 2019.
Revenue dipped 1% to $10.1 billion in April-June. Adjusted net income fell to $452 million from $626 million in the same period last year. Adjusted pretax earnings fell 16% to $677 million.
Magna says second-quarter results were slightly better than expected. The company left its forecast for full-year net income unchanged but trimmed its sales outlook by $200 million to about $40 billion.
RELATED CONTENT
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
GM: The Drive to Profitability, Part 1
General Motors released rather impressive numbers for 2015.