Magna International Inc. today reported financial results for the first quarter ended March 31, 2021. Please click HERE for full first quarter Financial Statements and MD&A.
THREE MONTHS ENDED | ||||||||
March 31, 2021 | March 31, 2020 | |||||||
Reported | ||||||||
Sales | $ | 10,179 | $ | 8,657 | ||||
Income from operations before income taxes | $ | 805 | $ | 386 | ||||
Net income attributable to Magna International Inc. | $ | 615 | $ | 261 | ||||
Diluted earnings per share | $ | 2.03 | $ | 0.86 | ||||
Non-GAAP Financial Measures(1) | ||||||||
Adjusted EBIT | $ | 770 | $ | 403 | ||||
Adjusted diluted earnings per share | $ | 1.86 | $ | 0.86 | ||||
All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars |
(1) Adjusted EBIT and Adjusted diluted earnings per share are Non-GAAP financial measures that have no standardized meaning under U.S. GAAP, and as a result may not be comparable to the calculation of similar measures by other companies. A reconciliation of these Non-GAAP financial measures is included in the back of this press release.
Please click here to view the full press release.
SOURCE: Magna