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Linamar profit misses consensus by 15.4% in Q1


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Linamar profit misses consensus by 15.4% in Q1

Linamar Corp. said its first-quarter normalized net income came to C$1.58 per share, compared with the S&P Capital IQ consensus estimate of C$1.87 per share.

EPS increased 9.6% year over year from C$1.44.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$104.0 million, an increase of 9.9% from C$94.7 million in the year-earlier period.

The normalized profit margin dropped to 6.9% from 7.4% in the year-earlier period.

Total revenue grew 18.8% on an annual basis to C$1.52 billion from C$1.28 billion, and total operating expenses rose 20.0% year over year to C$1.35 billion from C$1.12 billion.

Reported net income grew 11.2% on an annual basis to C$126.4 million, or C$1.92 per share, from C$113.7 million, or C$1.73 per share.