Business
Linamar's Exceptional Performance Continues with Record Results, Strong Margins, and Continued Cash Generation
GUELPH, ON , Aug. 7, 2014 /CNW/ - (TSX: LNR) Sales increase 18.9% over the second qua...
About this update from Linamar Corporation
[{"type":"text","content":"\n\nGUELPH, ON, Aug. 7, 2014 /CNW/ - (TSX: LNR)\n\n\nSales increase 18.9% over the second quarter of 2013 (\"Q2 2013\") to reach record levels of $1.1 billion; \nOperating earnings up 38.0% over Q2 2013 to reach record levels of $124.3 million; \nNet earnings up 47.8% over Q2 2013 and earnings per share up 46.8% over Q2 2013 reaching $89.7 million and $1.38 respectively, a new record for both; \nNet margins reach 8.1%; \nLaunch book at nearly $3.2 billion; \nIndustrial segment showed significant margin improvements from Q2 2013 with operating earnings up 52.0% to $38.0 million on a sales increase of 20.5%; \nPowertrain/Driveline showed strong margin improvements as well with operating earnings up 32.6% to $86.3 million from Q2 2013 on a sales increase of 18.5%; \nReturn on Capital Employed reached 21.5% continuing our trend of solid improvements for the last 12 quarters; \nReturn on Equity improved 14.8% from Q2 2013 to reach 24.1%; and \nContinued cash generation of nearly $50 million to drive one of the strongest balance sheets in our peer group.\n\n\n\n\nThree Months Ended\n\n\nSix Months Ended\n\n\n\n\nJune 30\n\n\nJune 30\n\n\n\n\n2014\n\n\n2013\n\n\n2014\n\n\n2013\n\n\n\n(in millions of dollars, except Earnings per share figures)                      \n\n\n$\n\n\n$\n\n\n$\n\n\n$\n\n\n\nSales\n\n\n1,105.1\n\n\n929.4\n\n\n2,147.9\n\n\n1,776.0\n\n\n\nOperating Earnings (Loss)\n\n\n\n\n\n\n\n\nPowertrain/Driveline\n\n\n86.3\n\n\n65.1\n\n\n168.1\n\n\n122.5\n\n\n\n\nIndustrial\n\n\n38.0\n\n\n25.0\n\n\n68.3\n\n\n39.3\n\n\n\nOperating Earnings (Loss)\n\n\n124.3\n\n\n90.1\n\n\n236.4\n\n\n161.8\n\n\n\nNet Earnings (Loss) \n\n\n89.7\n\n\n60.7\n\n\n169.4\n\n\n109.1\n\n\n\nNet Earnings (Loss) per Share\n\n\n1.38\n\n\n0.94\n\n\n2.61\n\n\n1.69\n\n\n\n\n\n\n\nOperating Highlights\n\nSales for the second quarter of 2014 (\"Q2 2014\") were $1,105.1 million, up $175.7 million from $929.4 million in Q2 2013.\n\nSales for the Powertrain/Driveline segment (\"Powertrain/Driveline\") increased by $138.2 million, or 18.5% in Q2 2014 compared with Q2 2013.  The sales increase in Q2 2014 was impacted by:\n\n\nthe significant levels of newly launched programs and volume increases on mature programs in North America; \nincreased European sales...