Magna International (MGA) shares surged 5.47% in pre-market trading following the release of its second-quarter financial results, which handily beat analyst expectations and prompted the company to raise its full-year profit guidance.

The Canadian auto parts maker reported adjusted earnings per share of $1.86 for the quarter, significantly above the consensus estimate of $1.53. Revenue climbed 3% to $10.98 billion, also exceeding forecasts of $10.73 billion. Magna credited the strong performance to new program launches, productivity improvements, and disciplined execution across its global operations.

Looking ahead, Magna lifted its 2026 adjusted EPS outlook to a range of $6.70 to $7.30, up from the prior range of $6.25 to $7.25. The company also raised its adjusted EBIT margin and free cash flow targets, reflecting confidence in continued solid execution through the remainder of the year, despite a slight trim to its sales guidance due to foreign exchange headwinds and earlier-than-expected divestitures.