magna international inc shares fell in early trading friday morning after the company reported lower profit in the fourth quarter at 1016 am et the companys torontolisted shares were trading about 14 lower at 7487 canadian dollars 5564 for the three months ended dec 31 the canadian autoparts manufacturer said net income fell to 95 million or 33 cents a share from 464 million or 154 a share a year earlier on an adjusted basis pershare earnings fell to 91 cents from 130 a share according to consensus expectations of analysts polled on factset earings were forecast to fall even lower to 85 cents adjusted earnings before interest and taxes also fell reaching 356 million in the quarter compared with 508 million the year before meanwhile sales in the period increased to 957 billion from 911 billion also beating expectations of 947 billion looking ahead magna laid out its expectations for 2023 pegging total sales between 396 billion and 412 billion this is ahead of 2022s sales which rose 44 to 3784 billion and ahead of consensus expectations for revenue to reach 3972 billion on the low end of magnas updated guidance net income is expected to be between 11 billion and 14 billion up from the 592 million reported for 2022 a 61 decline from 2021 this is expected to grow further in 2025 setting new targets for revenue to be between 447 billion and 472 billion with analysts expectations near the midpoint of 4636 billion