Magna International trims 2026 sales target on weaker vehicle production outlook

11 articles · Updated · MarketWatch · May 1

The supplier now forecasts $41.5 billion-$43.1 billion in sales, assuming 14.9 million North American and 16.6 million European vehicles, while keeping its China estimate at 32 million.
Magna reaffirmed underlying earnings, free cash flow and $1.5 billion-$1.6 billion in capital spending, even as first-quarter net results swung to a $12 million loss from $146 million profit.
Quarterly sales rose 3.1% to $10.38 billion, helped by currency gains and new programmes, while adjusted earnings beat expectations and operating income was hit by asset-sale losses tied to exiting lighting and rooftop systems.

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