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Linamar Reports Record 1Q Sales, Earnings
Linamar Corp. say strong demand in all markets hiked its first-quarter sales, operating earnings and net income to record highs.
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Linamar Corp. say strong demand in all markets hiked its first-quarter sales, operating earnings and net income to record highs.
The Canadian supplier of precision metal components reports its sales climbed 19% to $1.5 billion (US$1.2 billion), operating earnings grew 11% to $172 million (US$134 million) and net income rose 11% to $126 million (US$98 million).
The company’s powertrain/driveline business boosted its first-quarter sales 24% to $253 million (US$196 million) through a combination of acquisitions, an increased global presence and new business in North America and Europe.
Last year Linamar’s sales jumped 24% to $5.2 billion, operating earnings rose 34% to $597 million, and net earnings zoomed 36% to $437 million.
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