Magna Q3 2025 at a Glance

Magna posted sales of U.S. $10.5 billion for the third quarter of 2025, an increase of 2% from the third quarter of 2024. The higher sales largely reflects:
• The launch of new programs.
• The net strengthening of foreign currencies against the U.S. dollar.
• 3% higher global light vehicle production.

These elements were partially offset by:
• The end of production of certain programs.
• Lower complete vehicle assembly volumes, substantially due to the end of production of the Jaguar I-Pace and E-Pace.
• Net customer price concessions subsequent to the third quarter of 2024.
• Lower production on certain programs.

Adjusted EBIT increased to $613 million in the third quarter of 2025 compared to $594 million in the third quarter of 2024. This mainly reflects:
• Continued productivity and efficiency improvements, including the benefit of our operational excellence initiatives and recent restructuring activities.
• Higher equity income.

These were partially offset by:
• Commercial items in the third quarters of 2025 and 2024, which had a net unfavorable impact on a year-over-year basis.
• Higher tariff costs.

Income from operations before income taxes decreased to $473 million for the third quarter of 2025 compared to $700 million in the third quarter of 2024, which includes Other expense (income), net items and Amortization of acquired intangibles totaling $75 million and ($160) million in the third quarters of 2025 and 2024, respectively. The most significant item in Other expense (income) in either period was the positive impact of recognizing $196 million of Fisker deferred revenue in the third quarter of 2024 as the associated agreements were cancelled. Excluding Other expense (income), net and Amortization of acquired intangibles from both periods, income from operations before income taxes increased $8 million in the third quarter of 2025 compared to the third quarter of 2024, largely reflecting the increase in Adjusted EBIT.

Net income attributable to Magna International Inc. was $305 million for the third quarter of 2025 compared to $484 million in the third quarter of 2024. Excluding Other expense (income), net, after tax and Amortization of acquired intangibles from both periods, net income attributable to Magna International Inc. increased $6 million in the third quarter of 2025 compared to the third quarter of 2024.

Diluted earnings per share were $1.08 in the third quarter of 2025, compared to $1.68 in the comparable period. Adjusted diluted earnings per share were $1.33, compared to $1.28 for the third quarter of 2024, an increase of 4%. The increase in adjusted diluted earnings per share reflects the impacts of higher adjusted EBIT and a lower share count resulting from share repurchases over the past 12 months.