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Magna Announces Third Quarter 2022 Results

AURORA, Ontario, November 4, 2022 — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2022.

Swamy Kotagiri, Magna CEO

“In the third quarter, we managed through an operating environment that remains challenged by ongoing production schedule volatility and elevated energy costs in Europe. We continue to take steps to address the short-term industry turbulence as well as operating inefficiencies at certain facilities, while remaining focused on our go-forward strategy and value creation.”


- Swamy Kotagiri, Magna’s Chief Executive Officer