Linamar (LNR.TO) said Wednesday after trade its second-quarter normalized earnings climbed to C$3.08 per share, from C$2.81 per share, in the prior year period.
Analysts polled by FactSet had expected C$3.12 per share.
The auto parts manufacturer reported sales jumped 18.8% year over year to reach a record of C$3.14 billion, above the C$3.03 billion forecast. Linamar attributed the increase to the success of its diversification strategy.
The company will pay a regular quarter dividend of C$0.32 per share on Sept. 10, to shareholders of record on Aug. 24.
"Q2 was another strong quarter for us despite a challenging environment with record sales overall and notably record sales and earnings in our important Mobility segment," said Executive Chair Linda Hasenfratz. "New business wins are tracking ahead of target as we continue to win in a dynamic marketplace and our outlook is positive for continued growth top and bottom line this year and next."
Linamar shares closed up C$1.25, to C$107.07 on the Toronto Stock Exchange.