Auto-parts maker Linamar reported $169.2-million in net earnings during the third quarter, up from $138-million the previous year.Glenn Lowson/The Globe and Mail
Linamar Corp. LNR-T reported $169.2-million in net earnings during the third quarter, up from $138-million during the same period a year earlier.
The company says its earnings amounted to $2.82 per diluted share, up from $2.24 a year earlier.
The Guelph, Ont.-based auto-parts manufacturer says its sales totalled $2.5-billion during the third quarter, down from $2.6-billion during the prior-year quarter.
Linamar says that since it continues to comply with the Canada-U.S.-Mexico trade agreement, the majority of its products going into the U.S. are tariff-free.
Linda Hasenfratz, Linamar’s executive chair, says in a press release that in a low-growth environment, the company is being opportunistic to chase acquisitions.
In October, Linamar announced it was expanding its U.S. manufacturing footprint through a US$300-million deal to buy select North American assets of Aludyne Inc.