The Globe and Mail reports in its Saturday, May 6, edition that Magna International raised its full-year earnings forecast on Friday. A Canadian Press dispatch to The Globe reports that chief executive officer Seetarama Kotagiri said on an analyst call, "If you go from March to April, we are starting to see a little bit of improvement." Magna expects light vehicle production in North America and Europe to grow to 15 million units and 16.3 million units. That is a slight improvement from its previous projection of 14.9 million for North America and 16.2 million for Europe. To mitigate inflationary pressures, the company is also beginning restructuring measures, such as consolidating certain corporate functions. Magna raised its 2023 profit forecast to a range of $1.3-billion to $1.5-billion from a range of $1.1-billion to $1.4-billion (all figures U.S.). It also raised its revenue forecast. On an adjusted basis, it reported earnings per share of $1.11 for the first quarter, beating expectations of 83 cents. Sales of $10.67-billion also topped expectations of $9.86-billion. Magna's beat reverses an "ugly streak" of three straight bottom-line shortfalls, says CFRA analyst Garrett Nelson.