Magna Earnings Reports

Revenue fell 8% due to weaker vehicle production and program roll-offs, but net income improved significantly from the prior year thanks to cost control and reduced restructuring and impairment charges.

Magna International posted a 1.66% year-over-year revenue increase in Q4 2024, reaching $10.63 billion. Adjusted EBIT surged 23.48% due to operational efficiencies, while net income declined by 25.09% YoY. The company faced headwinds from lower production volumes and foreign currency impacts but continued to focus on margin expansion and cash flow generation.