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Linamar Q2 profit climbs 28.1% YOY

Linamar Corp. said its second-quarter normalized net income came to C$1.96 per share, compared with the S&P Capital IQ consensus estimate of C$2.16 per share.

EPS climbed 27.7% year over year from C$1.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$129.0 million, an increase of 28.1% from C$100.7 million in the year-earlier period.

The normalized profit margin increased to 7.8% from 7.4% in the year-earlier period.

Total revenue climbed 21.1% on an annual basis to C$1.66 billion from C$1.37 billion, and total operating expenses grew 20.0% from the prior-year period to C$1.44 billion from C$1.20 billion.

Reported net income increased 31.0% year over year to C$157.3 million, or C$2.39 per share, from C$120.1 million, or C$1.83 per share.