![Cars driving along a highway with the sun setting in the distance](/images/default-source/stories/banners/topic-banners/1800x502-magna-38.jpg?sfvrsn=a02ceabf_3)
AURORA, Ontario, November 3, 2023 — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2023.
![Swamy Kotagiri, Magna CEO](/images/default-source/investors/2022-annual-report/swamy-kotagiri-lr-v1.0.jpg?sfvrsn=b99a7199_1)
“We continue to execute across all segments of our business through a combination of launching new programs, working to offset inflationary pressures, reducing expenses, and optimizing our cost structure. Our raised Outlook reflects our relentless focus on delivering short- and long-term margin expansion and increased returns on investment.”
- Swamy Kotagiri, Magna’s Chief Executive Officer