GUELPH, Ont. – Auto parts manufacturer Linamar Corp., facing heightened risk from U.S. tariffs., says it swung to a loss last quarter from a writedown on its European operations.
The Guelph, Ont.-based manufacturer says it lost $232.3 million in the quarter ending Dec. 31, compared with earnings of $104.4 million last year.
The loss came as it recorded a $385.5 million goodwill impairment related to what it says is a weak European market.
Linamar says it had sales of $2.38 billion in the quarter, down from $2.45 billion in the prior year.
Adjusted earnings worked out to $111.8 million, down from $122.2 million last year.
Along with automotive products, the company also produces agricultural and industrial equipment.
This report by The Canadian Press was first published March 5, 2025.
Companies in this story: (TSX:LNR)
