Martinrea reports $133.3 million loss in fourth quarter, sales decline
Written by The Canadian Press on March 6, 2025
TORONTO — Martinrea International Inc. reported a loss of $133.3 million in its fourth quarter, compared to earnings of $1.9 million a year earlier.
The Toronto-based auto supplier says sales totalled $1.2 million, down from $1.3 million during the fourth quarter of 2023.
The net loss per share for the quarter ended Dec. 31 came to $1.82, compared with earnings of two cents per share a year earlier.
Martinrea posted a full-year loss of $34.5 million, while its sales declined six per cent to $5.0 million.
CEO Pat D’Eramo says electric vehicle sales have been slow to ramp up, resulting in margin pressure across the automotive parts industry.
As a result, he says the company is focusing on growth opportunities in North America while maintaining its presence in Europe and working to minimize its China footprint.
This report by The Canadian Press was first published March 6, 2025.
Companies in this story: (TSX: MRE)
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