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Linamar (LNR) investor relations material
Linamar Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Achieved strong earnings growth in the Mobility segment, with normalized operating earnings up 87.7% to $165.9M and margins at 8.6%, offsetting significant declines in the Industrial/agricultural segment and demonstrating the benefits of business diversification.
Completed two major acquisitions—Aludyne in the US and GF Leipzig in Germany—adding over $1B in annualized sales and expanding advanced casting and structural component capabilities.
Generated exceptional free cash flow of $321M in Q3 2025, up $51.3M year-over-year, supporting acquisitions and shareholder returns, with liquidity at $2.2B.
Maintained a conservative balance sheet with net debt to EBITDA at 0.8x and strong liquidity of $2.2B, a 54.9% increase from Q3 2024.
Tariff impacts remain manageable, creating onshoring and acquisition opportunities.
Financial highlights
Q3 2025 sales were $2.5B, down 3.6% year-over-year due to a 26% decline in Industrial (mainly agriculture), partially offset by a 7% increase in Mobility.
Normalized net earnings were $150.1M (5.9% of sales); normalized EPS was $2.51, up 6.8% year-over-year.
Mobility segment sales grew 7.1% to $1,922M, with normalized operating earnings up 87.7% to $165.9M and margin at 8.6%.
Industrial segment sales declined 26.3% to $619.7M, with normalized operating earnings down 56% to $61.7M and margin at 10%.
Free cash flow for Q3 2025 was $320.9M, up from $269.6M year-over-year; cash position at quarter-end was $1.2B.
Outlook and guidance
2025 guidance unchanged: Mobility segment expected to deliver sales and double-digit operating earnings growth, with margin expansion supported by acquisitions.
Industrial segment to see double-digit declines in sales and earnings, with margins now expected below the normal 14–18% range.
Consolidated 2025 sales to decline modestly, but normalized EPS and net earnings to grow; strong free cash flow and balance sheet to continue.
2026 outlook: Mobility to drive overall growth, with full-year contributions from acquisitions; CapEx to rise but remain below normal range.
Management remains focused on market leadership, disciplined cash management, and leveraging recent acquisitions for growth in 2026.
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Q4 20254 Mar, 2026
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Frequently asked questions
Linamar Corporation is a Canadian manufacturing company that designs and produces precision-engineered products for automotive, industrial, and mobility markets. Its operations include powertrain systems, driveline components, access equipment, and agricultural machinery. The company serves OEMs and end-users worldwide. Linamar Corporation is headquartered in Guelph, Canada, and its shares are listed on the TSX.
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