UPDATE 1-Linamar earnings leap 57 percent on U.S. demand
* Q3 EPS C$0.52 vs C$0.33 year-ago, before adjustments
* Sales rise 6.6 percent
* U.S. consumer demand boosts sales, offsets weak Europe
Nov 14 (Reuters) - Linamar Corp, Canada's second-biggest auto parts maker, reported a 57 percent increase in quarterly earnings on Wednesday as stronger demand in the United States offset weakness in Europe.
Earnings rose to C$33.7 million ($33.59 million), or 52 Canadian cents a share, in the three months to the end of September. That compared with earnings of C$25.1 million, or 33 Canadian cents, before adjustments, in the same period a year earlier.
Sales rose 6.6 percent to C$773.4 million.
Analysts, on average, forecast earnings of 50 Canadian cents a share, and sales C$790 million, according to Thomson Reuters I/B/E/S.
Sales from Linamar's powertrain unit increased by 5.5 percent to C$671.4 million on the back of U.S. consumer demand as well as additional sales from expanded and new facilities and new business in Canada, Mexico and Asia, Linamar said.
Sales at the company's smaller industrial unit increased 14.2 percent to C$102 million.
Linamar no longer provides a financial outlook.
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- Flights delayed as air pollution hits record in Shanghai
- Amish girl in Ohio will not be forced to resume chemo for cancer
- North Korea frees U.S. Korean War veteran after seven weeks