Linamar Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 08:48 pm
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Linamar Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was CAD 2,552.83 million compared to CAD 1,981.64 million a year ago. Net income was CAD 134.99 million compared to CAD 104.47 million a year ago. Basic earnings per share from continuing operations was CAD 2.19 compared to CAD 1.61 a year ago. Diluted earnings per share from continuing operations was CAD 2.19 compared to CAD 1.61 a year ago.
For the six months, sales was CAD 4,845.5 million compared to CAD 3,759.73 million a year ago. Net income was CAD 251.99 million compared to CAD 200.76 million a year ago. Basic earnings per share from continuing operations was CAD 4.1 compared to CAD 3.08 a year ago. Diluted earnings per share from continuing operations was CAD 4.09 compared to CAD 3.08 a year ago.
Linamar Corporation is a Canada-based advanced manufacturing company. The Company is engaged in providing manufacturing solutions and developing engineered products. Its segments include Industrial and Mobility. The Industrial segment consists of MacDon, Salford, Bourgault, and Skyjack. MacDon manufactures combined draper headers and self-propelled windrowers for the agricultural harvesting industry. Skyjack manufactures scissor, boom, and telehandler lifts for the aerial work platform industry. The Mobility segment is focused on propulsion systems, structural and chassis systems, energy storage and power generation for both the global electrified and traditionally powered vehicle markets and is subdivided into three regional groups and one global product group: North America, Europe, Asia Pacific, and the newly formed Structures Group. The regional mobility groups are vertically integrated operations combining expertise in light metal casting, forging, machining, and assembly.