Magna announces first quarter 2021 results

Magna International Inc. today reported financial results for the first quarter ended March 31, 2021

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, 2021March 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