Linamar Reports Strong Q3 Growth and Cash Flow

Linamar Corp. ( (LIMAF) ) has released its Q3 earnings. Here is a breakdown of the information Linamar Corp. presented to its investors.

Linamar Corporation is a diversified advanced manufacturing company that operates in the Industrial and Mobility segments, providing innovative manufacturing solutions and highly engineered products globally.

Linamar Corporation has reported strong financial results for the third quarter of 2024, showcasing continued growth in both its top and bottom lines, alongside exceptional free cash flow performance. The company has also announced a normal course issuer bid (NCIB) to repurchase shares, reflecting its commitment to returning value to shareholders.

The company’s sales rose by 8.3% to $2.64 billion, with normalized operating earnings up 14.1%, and normalized diluted earnings per share increasing by 6.3% for the quarter. The Industrial segment saw a 24.3% increase in sales, largely driven by market share gains and the acquisition of Bourgault Industries Ltd. Meanwhile, the Mobility segment experienced a 2.1% sales growth despite market challenges, supported by acquisitions and increased content per vehicle in North America. Free cash flow surged to $269.6 million, a remarkable improvement from the previous year.

Linamar’s strategic initiatives include maintaining a dividend of $0.25 per share and launching the NCIB, with approval from the Toronto Stock Exchange to purchase up to 4,021,282 shares. These moves demonstrate the company’s focus on deploying capital effectively while maintaining a conservative financial stance.

Looking ahead, Linamar remains committed to capitalizing on global opportunities, with its management expressing confidence in their ability to navigate challenging markets while continuing to deliver robust financial performance.