Linamar Corp reports results for the quarter ended in June - Earnings Summary

Linamar

08/08/2024 22:52

* Linamar Corp  LNR.TO  reported quarterly adjusted earnings
of
C$3.06​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of
C$2.61.  The mean expectation of five analysts for the quarter
was for earnings of C$2.97 per share. Wall Street expected
results to range from C$2.61  to C$3.15 per share.
    * Revenue rose 11.6% to C$2.85 billion from a year ago;
analysts
expected C$2.94 billion. 
    * The company reported quarterly net income of C$174.1
million.
    * Linamar Corp shares had fallen by 8.0% this quarter and
lost 4.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1% in
the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto, truck &
motorcycle parts peer group is also "buy"

Wall Street's median 12-month price target for Linamar Corp is
C$89.00 
This summary was machine generated from LSEG data August 8 at
09:52 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.97           3.06           Beat
 Mar. 31 2024      2.06           2.59           Beat
 Dec. 31 2023      1.74           1.98           Beat
 Sep. 30 2023      2.07           2.21           Beat