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Linamar Reports Record Sales, Earnings Gains
Linamar Corp. reports its revenue in April-June climbed 21% to a record US$1.7 billion. Net earnings zoomed 31% to $157 million.
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Linamar Corp. reports its revenue in April-June climbed 21% to a record US$1.7 billion. Net earnings zoomed 31% to $157 million.
The Guelph, Ontario-based supplier of highly engineered metal components says its operating earnings for the quarter grew 29% to a record $214 million.
Results were led by the company’s powertrain/driveline business, where sales for the period rose 26% to $1.1 billion, and operating income jumped 45% to $50 million. Gains reflect a strong automotive market and the acquisition early this year of Montupet SA, a French supplier of aluminum cylinder heads to several carmakers.
CEO Linda Hasenfratz predicts record double-digit growth in sales and earnings for Linamar this year, thanks to stable markets and record new-business wins.
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