Magna reports Q1 sales edged higher, adjusted profit up from year ago

Magna International Inc. signage sits on display outside the company's Polycon Industries auto parts manufacturing facility in Guelph, Ontario, Canada, on Thursday, Aug. 30, 2018.

TORONTO — Magna International Inc. reported a loss attributable to the company of US$12 million in its latest quarter compared with a profit of US$146 million a year earlier.

The Ontario-based automotive supplier, which keeps its books in U.S. dollars, says the loss amounted to four cents per diluted share for the quarter ended March 31 compared with a profit of 52 cents per diluted share a year ago.

On an adjusted basis, Magna says it earned US$1.38 per share in its latest quarter compared with an adjusted profit of 78 cents US per share a year earlier.

Sales totalled US$10.38 billion for the quarter, up from US$10.07 billion in the first quarter of 2025.

In its updated outlook, Magna says it now expects its sales for 2026 to total between US$41.5 billion and US$43.1 billion, down from its earlier forecast for between $41.9 billion and US$43.5 billion.

Magna is one of the world’s largest automotive suppliers and has operations across 28 countries around the world.

This report by The Canadian Press was first published May 1, 2026.