Linamar Corp. earns $104.4 million in fourth quarter as sales rise to $2.5 billion

Linda Hasenfratz, president and chief executive officer of Linamar Corp., speaks during a panel discussion at the Public Policy Forum Canada Growth Summit 3 in Toronto, Ontario, Canada, on Thursday, April 12, 2018. The summit is an annual forum where private, public, academic and other sectors can debate how to enhance prosperity for Canadians in a rapidly changing globalized economy. , Cole Burston/Bloomberg

The Canadian Press

Mar 6, 2024

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Linamar Corp. says it earned $104.4 million in the fourth quarter of 2023, up from $92.2 million a year earlier.

The Guelph, Ont.-based manufacturing company says sales were $2.5 billion, up from $2.1 billion during the same quarter in 2022. 

Diluted earnings per share were $1.69, up from $1.49. 

Earnings in 2023 rose year over year to $503.1 million, while sales for the full year also rose, to $7.9 billion. 

Executive chair and CEO Linda Hasenfratz said the company is looking forward to another year of double-digit growth in 2024. 

The company increased its dividend to shareholders to 25 cents per share. 

This report by The Canadian Press was first published March 6, 2024.