Canadian auto parts maker Magna International Inc. reported Friday a sharp drop in fourth-quarter profit, below market estimates, while top line increased and beat the Wall Street view. Looking ahead, the company projects higher profit and sales for fiscal 2023, and higher sales for fiscal 2025.
For fiscal 2023, the company projects net income attributable between $1.1 billion and $1.4 billion, on sales of $39.6 billion to $41.2 billion.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.