06:05 AM EDT, 08/02/2024 (MT Newswires) -- Magna International ( MGA ) reported Q2 adjusted earnings Friday of $1.35 per diluted share, down from $1.54 a year earlier.

Analysts polled by Capital IQ expected $1.45.

Sales for the quarter ended June 30 were $10.96 billion compared with $10.98 billion a year earlier.

Analysts polled by Capital IQ expected $11.01 billion.

The company said it now expects full-year sales of $42.5 billion to $44.1 billion from the previous range of $42.6 billion to $44.2 billion. Analysts polled by Capital IQ expect $43.3 billion.

Magna International ( MGA ) said it now expects 2026 sales of $44 billion to $46.5 billion, from the previous range of $48.8 billion to $51.2 billion. Analysts polled by Capital IQ expect $47.26 billion.

Shares of Magna International ( MGA ) were down more than 2% premarket.

Price: 42.00, Change: -1.01, Percent Change: -2.35