TORonTO — Shares in auto parts maker Martinrea International Inc. fell more than 17 per cent Tuesday, a day after the Toronto company reported lower third-quarter net earnings.

Its stock was down $2.12 to $10.20 by mid-morning on the Toronto Stock Exchange.

Martinrea, which makes automotive parts, assemblies and modules, and fluid management systems focused on the auto industry, reported Monday that it had $19.4 million of net earnings attributable to shareholders, or 23 cents per share, for the three months ended Sept. 30. That was down from $20.9 million or 25 cents in the same period a year earlier.

The earnings came in below analyst estimates of 25 cents per share, according to Thomson Reuters.

Martinreas revenue rose to a record $859.5 million from $767.9 million. But revenue, excluding tooling revenue, was about $785 million, at the low end of the companys guidance due to lower production volumes at key vehicle platforms in North America. Revenues for the quarter, excluding tooling revenues, should be in the range of $825 million to $845 million,

Martinrea employs about 14,000 workers at 40 operating divisions in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain and China.