Linamar posts record revenue in Q2, forms new structures group
The Guelph, Ont.-based supplier said sales totaled $2.55 billion in the quarter, up from $1.98 billion in the same period a year earlier. Normalized earnings were $2.61 per share, up 55 per cent from $1.68 in the same three-month span of 2022.
“This quarter has been another example of Linamar’s diversification strategy again paying dividends in driving consistent, sustainable earnings growth,” she said on an Aug. 9 conference call with investors and analysts. Going forward, the company said it expects to maintain double-digit sales growth across both its mobility and industrial units in the back half of 2023. It also forecasts another year of double-digit growth in 2024.The emerging segment is “dramatically shifting the landscape” of the company’s mobility business, Hasenfratz said. Electrified or propulsion-agnostic components make up about one-third of Linamar’s mobility sales today.
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