Impressive Cash Flow Drives Dividend Increase, Buyback GUELPH, ON, Nov. 9, 2021 /CNW/ - (TSX: LNR)
- Free cash flow1 was $223.9 million for the third quarter of 2021 ("Q3 2021") continuing the company's excellent balance sheet management;
- Liquidity, measured as cash and cash equivalents and available credit as at September 30, 2021, is $1.8 billion an increase from $1.3 billion at September 30, 2020;
- During Q3 2021, the Company experienced modest sales growth versus the third quarter of 2020 ("Q3 2020");
- Industrial segment sales up 45% and normalized operating earnings up 50% compared to Q3 2020:
- Strong access equipment sales from the market recovery and market share growth for certain targeted products and regions; and
- Increased agricultural sales from market growth amplified by global market growth in all core products.
- Mobility segment continues to experience adverse conditions associated with semi conductor supply related issues leading to a sales decline;
- Strong content per vehicle in all regions from launching business and content on prioritized vehicles; and
- New business wins grow strong launch book to more than $3.7 billion, more than 22% year to date new business wins for electrified vehicles.