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Linamar Q1 profit climbs 42.9% YOY

Linamar Corp. said its normalized net income for the first quarter came to C$1.44 per share, compared with the S&P Capital IQ consensus estimate of C$1.44 per share.

EPS climbed 42.1% year over year from C$1.01.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$94.7 million, a gain of 42.9% from C$66.2 million in the year-earlier period.

The normalized profit margin rose to 7.4% from 6.4% in the year-earlier period.

Total revenue rose 22.5% on an annual basis to C$1.28 billion from C$1.04 billion, and total operating expenses grew 20.5% from the prior-year period to C$1.12 billion from C$930.6 million.

Reported net income increased 42.7% on an annual basis to C$113.7 million, or C$1.73 per share, from C$79.7 million, or C$1.22 per share.