Magna International Stock Hits 52-Week High - Here's Why

Magna International Inc. (NYSE: MGA ) stock was trading higher in Friday’s premarket session after the auto supplier reported second-quarter results that topped Wall Street estimates and raised its full-year adjusted earnings outlook. The company reported adjusted earnings of $1.86 per share, beating the consensus estimate of $1.61. That was up from $1.44 per share a year earlier. Revenue increased to $10.98 billion from $10.63 billion a year ago, exceeding analysts’ expectations of $10.70 billion. Adjusted EBIT rose 16% year over year to $677 million from $583 million. Updated 2026 Outlook Magna raised its full-year 2026 adjusted earnings guidance to a range of $6.70 to $7.30 per share, up from its prior forecast of $6.25 to $7.25 per share. Analysts were expecting full-year adjusted earnings of $6.71 per share. The company, however, lowered its full-year sales outlook to...