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Linamar Q3 profit climbs 34.7% YOY

Linamar Corp. said its third-quarter normalized net income came to C$1.79 per share, compared with the S&P Capital IQ consensus estimate of C$1.79 per share.

EPS increased 34.5% year over year from C$1.33.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$117.5 million, an increase of 34.7% from C$87.2 million in the year-earlier period.

The normalized profit margin fell to 6.8% from 6.8% in the year-earlier period.

Total revenue increased 14.3% year over year to C$1.46 billion from C$1.27 billion, and total operating expenses increased 11.6% on an annual basis to C$1.26 billion from C$1.13 billion.

Reported net income grew 13.6% year over year to C$122.2 million, or C$1.86 per share, from C$107.6 million, or C$1.64 per share.