11:56 AM EDT, 10/31/2025 (MT Newswires) -- (Updates shares.)

Magna (MG.TO, MGA) on Friday reported a 4% increase in its third-quarter adjusted earnings per share on higher sales, supported by rising global light vehicle production.

Adjusted earnings per share were US$1.33, rising from US$1.28. Net income was US$305 million, down from US$484 million.

Sales also grew to US$10.46 billion from US$10.28 billion. Adjusted EBIT came in at US$613 million, up from US$594 million.

Magna attributed the increase in adjusted EBIT to productivity and efficiency improvements and higher equity income, partially offset by commercial items in the third quarters of 2025 and 2024 and higher tariff costs.

The company increased its 2025 outlook for sales and adjusted net income attributable to Magna. Sales are expected to be US$41.1 billion-US$42.1 billion in 2025, up from the previous guidance of US$40.4 billion-US$42.0 billion. Adjusted net income attributable to Magna is forecast at US$1.45 billion-US$1.55 billion, an increase from the previous guidance of US$1.35 billion-US$1.55 billion.

Magna shares were last seen up C$2.63 to C$65.12 on the Toronto Stock Exchange.

Price: 65.09, Change: +2.60, Percent Change: +4.16