Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
    • UTECH Europe 2021
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
November 08, 2010 12:00 AM

Seat maker Magna's profits soars on rising sales

Utech Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    From Automotive News
    Toronto, Ontario -- Auto parts maker Magna International said its third-quarter profit soared as sales benefited from rising global auto production.

    North America's largest supplier said it earned $241 million in the third quarter, up from $51 million a year earlier. Revenue rose 27 percent to $5900 million.

    Per-share earnings were $2.06. Analysts expected the Canadian company to earn $1.52 a share on revenue of $5400 million, according to Thomson Reuters I/B/E/S.

    Magna also announced a two-for-one stock split of its outstanding common shares to be implemented by way of a stock dividend, payable on 24 Nov.

    If approved by regulators, shareholders will receive one additional common share of Magna for each common share held.

    The company's common shares are expected to begin trading on a split basis on the Toronto market 12 Nov, and on the New York Stock Exchange on 26 Nov.

    Magna released its results after market close. The shares have gained about 85 percent so far this year.

    Magna ranks No. 1 on the Automotive News list of the biggest suppliers to North America, with $8160 million in sales of original equipment parts in the region last year.

    "

    Recommended for You
    US government backs 3D printing initiative
    US government backs 3D printing initiative
    henkel adhesive recyclable packaging 800
    Henkel adds adhesives for recyclable food packaging
    formlabs 3dp pu resin 800
    Formlabs adds PU 3D printing resins
    Latest Issue
    April/May 2022 issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright Ā© 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
      • UTECH Europe 2021
    • Advertise
    • Contact Us
    • Issues
    • Subscribe