Linamar reports sales up on market share, pricing in latest quarter
The Canadian PressGeneral Automotive
Car parts maker sees income dip to $105M due to higher input costs.
GUELPH, Ont. – Linamar Corp. says sales climbed in its last quarter on increased market share and higher pricing while profits saw a modest dip in part on higher input costs.
The manufacturer says net income for the quarter ending June 30 came in at $104.5 million, or $1.61 per share, down from $108 million or $1.65 per share.
Adjusted net earnings were $109.3 million, or $1.68 per share, up from $106.9 million or $1.63 per share.
Sales came in at $1.98 billion, up from $1.58 billion for the same quarter last year.
Analysts had expected revenue of $1.8 billion and an adjusted net income of $1.09 per share, according to financial markets data firm Eikon.
The company says sales were also boosted by fewer supply chain problems, as well as acquisitions in both its industrial and mobility segments.
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