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Aug 2, 2017

Linamar's strong industrial performance pushes quarterly sales higher

Auto parts engine cars Linamar

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Canadian auto parts maker Linamar Corp (LNR.TO) on Wednesday reported higher quarterly sales, helped by a strong performance in its industrial sector.

The company reported sales of $1.77 billion during the second quarter, up 6.6 per cent from the same period in 2016.

Analysts on average had expected sales of $1.73 billion for the quarter ended June 30, according to Thomson Reuters I/B/E/S.

Linamar also beat on earnings, reporting $2.45 per share diluted, compared with expectations of earnings of $2.41 per share, according to Thomson Reuters I/B/E/S.

Linamar has previously said it expects top-line growth in the mid-to-high single digits in 2017.