Magna Clocks 5% Sales Decline In Q1; Cuts FY22 Outlook
Magna International Inc (NYSE:MGA) (TSX:MG) reported a first-quarter FY22 sales decline of 5.3%, to $9.64 billion, beating the consensus of $9.31 billion. Global light vehicle production growth was down 7%, primarily driven by a 16% decrease in Europe. Body Exteriors & Structures segment sales grew 1.3% Y/Y, Power & Vision fell 3.5%,…
Benzinga ·
Benzinga
