05:59 AM EDT, 05/03/2024 (MT Newswires) -- Magna International ( MGA ) reported Q1 adjusted earnings Friday of US$1.08 per diluted share, down from $1.15 a year earlier. Analysts polled by Capital IQ expected $1.24.

Sales for the quarter ended March 31 were $10.97 billion, compared with $10.67 billion a year earlier. Analysts polled by Capital IQ expected $10.98 billion.

The company said it now expects full-year sales of $42.6 billion to $44.2 billion, from the previous range of $43.8 billion to $45.4 billion. Analysts polled by Capital IQ expect $44.50 billion.