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The airline beat estimates as it reported adjusted earnings before interest, taxes, depreciation and amortization of $1.2 billion, above the consensus of $919 million and more than $1 billion above the figure recorded in the second quarter of 2022.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYExclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
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Martinrea International Inc. Reports Record Revenue and Earnings in Q2 2023Martinrea International Inc., a parts supplier based in Vaughan, Ontario, achieved record revenue and adjusted earnings in the second quarter of 2023. The company's sales reached $1.36 billion, up from $1.11 billion in the same quarter of 2022. Adjusted net earnings nearly doubled to 62 cents per share. The CEO, Pat D'Eramo, stated that these strong results indicate ongoing improvement in the auto sector. The company attributed the revenue and earnings gains to a less volatile production environment and positive commercial settlements with its customers. D'Eramo also highlighted the importance of regular negotiations with automakers to ensure fair part prices amidst fluctuating input costs and high inflation rates.
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