Martinrea reports $133.3 million loss in fourth quarter, sales decline.

U.S. President Donald Trump imposed sweeping tariffs on Canadian goods earlier this week, and Canada retaliated with tariffs of its own. However, Trump has now allowed a one-month exemption for the auto sector and some other goods.

Martinrea reported a loss of $133.3 million in its fourth quarter, compared to earnings of $1.9 million a year earlier. The Toronto-based company said 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.

As a result, he said the company is focusing on growth opportunities in North America while maintaining its presence in Europe and working to minimize its China footprint.

Source: MARKETSCREENER