UPDATE 2-Auto parts maker Magna says factory glitches to hurt profit

Thu Nov 5, 2015 10:17am EST
 
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* Factory issues to hurt Q4, 2016 earnings

* Q3 adj EPS 97 cents vs estimate $1.09 - I/B/E/S

* Cuts 2015 operating margin estimate to 7.7 pct from 8 pct

* Shares fall 12 pct in early trading (Adds CEO comments, Q3 details, share activity)

Nov 5 (Reuters) - Canadian auto parts maker Magna International Inc said operational glitches at three of its plants in North America would weigh on its earnings in the current quarter and spill over to the first half of next year.

Magna's Toronto shares were down 12 percent at C$61.30 in early trading.

Increased downtime due to breakdowns at its facilities, two of which are in Canada, weighed on its third-quarter earnings as customers were seeking production at full tilt, Magna Chief Executive Don Walker said.

Magna also engineers and assembles vehicles for BMW's Mini and Daimler's Mercedes-Benz.

Walker said the company was looking closely at any impact related to its customer, Volkswagen AG, which has been hit by a diesel emissions scandal.   Continued...