The following is a summary of the Linamar Corporation (LIMAF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Linamar Corporation reported Q1 sales of $2.72 billion, a 19% increase YoY, and EPS rose by 31% to $2.59.

• Double-digit growth is reflected in both top and bottom lines, achieving a milestone with annual sales crossing $10 billion.

• Net debt stands at $1.83 billion, with expectations to go under 1 times EBITDA in 12 to 18 months.

• Significant Q1 accomplishments include increases in normalized net earnings (31.1% to $159.6 million), fully diluted normalized EPS (30.8% to $2.59), and a maintained liquidity level of $1.3 billion.

Business Progress:

• Successful completion of the Bourgault acquisition is expected to greatly contribute to the results, with integration currently in progress.

• New business wins continue in the technology and propulsion sectors, supported by award-winning innovations.

• Thanks to recent acquisitions, the Mobility and Industrial segments showed significant performance, including a 58% growth in normalized OE in the Mobility segment.

• The company's active product launch includes micro scissor models in the Skyjack division and the new Front Mount Rotary Disc Series in MacDon.

• There are plans for two new facilities in Mexico and China, supporting Skyjack's growth and expanding global market access.

• Looking forward, double-digit top-line growth is expected for both the Agricultural and Skyjack divisions in 2024, and high single-digit to low double-digit top-line growth is projected in the Mobility segment.

More details: LINAMAR CORP IR

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