Latest news with #StevenB.Hedlund
Business Wire
5 days ago
- Business
- Business Wire
Lincoln Electric Acquires Remaining Interest in Alloy Steel
CLEVELAND--(BUSINESS WIRE)-- Lincoln Electric Holdings, Inc. (Nasdaq: LECO) (the 'Company') announced today that it has acquired the remaining 65% interest in Alloy Steel Australia (Int) Pty Ltd. and its related businesses ('Alloy Steel'). The Company acquired an approximate 35% ownership interest in Alloy Steel on April 1, 2025, and following the completion of this transaction, the Company fully owns Alloy Steel. 'We are pleased to welcome the Alloy Steel team to Lincoln Electric to expand our presence in the attractive maintenance and repair sector,' said Steven B. Hedlund, Lincoln Electric's Chair, President and Chief Executive Officer. Alloy Steel is a privately held manufacturer of maintenance and repair solutions headquartered in Perth, Australia. It supplies proprietary wear plate solutions, engineering services and digital monitoring to the mining sector primarily in the Asia Pacific region to help customers extend asset life and minimize operational downtime. Alloy Steel's offering complements Lincoln Electric's current portfolio of maintenance and repair solutions for mining, steel, agricultural, and industrial applications. 'We are pleased to welcome the Alloy Steel team to Lincoln Electric to expand our presence in the attractive maintenance and repair sector,' said Steven B. Hedlund, Lincoln Electric's Chair, President and Chief Executive Officer. 'Customers are increasingly investing in maintenance to extend the life and maximize the productivity, safety, and energy efficiency of their assets. We are looking forward to expanding their innovative wear plate solution globally and scaling its reach beyond the Asia Pacific mining sector.' Alloy Steel's annual revenue is approximately USD$50 million and their results will be reported in the International Welding Segment. The acquisition is expected to be accretive to Company earnings, excluding transaction costs, at approximately $0.13 to $0.15 per diluted common share on an annual basis. Terms of the transaction were not disclosed. Forward-Looking Statements The Company's expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "forecast," "guidance" or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. These risks and uncertainties include our ability to successfully integrate Alloy Steel and our ability to achieve the expected growth from the Alloy Steel acquisition. For additional discussion, see "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024. About Lincoln Electric Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers' fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln has 71 manufacturing locations in 20 countries and a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company's website at
Business Wire
31-07-2025
- Business
- Business Wire
Lincoln Electric Reports Second Quarter 2025 Results
CLEVELAND--(BUSINESS WIRE)--Lincoln Electric Holdings, Inc. (the 'Company') (Nasdaq: LECO) today reported second quarter 2025 net income of $143.4 million, or diluted earnings per share (EPS) of $2.56, which includes special item after-tax net charges of $2.2 million, or $0.04 EPS. This compares with prior year period net income of $101.7 million, or $1.77 EPS, which included special item after-tax net charges of $32.6 million, or $0.57 EPS. Excluding special items, second quarter 2025 adjusted net income was $145.6 million, or $2.60 adjusted EPS. This compares with adjusted net income of $134.3 million, or $2.34 adjusted EPS, in the prior year period. 'I am pleased to report solid second quarter results, which demonstrate how we are effectively managing the business in a dynamic operating environment while positioning for long-term growth and margin expansion,' said Steven B. Hedlund, Chair & CEO. Share Second quarter 2025 sales increased 6.6% to $1,088.7 million reflecting a 2.9% increase in organic sales and 3.0% benefit from acquisitions. Operating income for the second quarter 2025 was $192.1 million, or 17.6% of sales. This compares with operating income of $148.8 million, or 14.6% of sales, in the prior year period. Excluding special items, adjusted operating income was $195.1 million, or 17.9% of sales, as compared with $177.6 million, or 17.4% of sales, in the prior year period. 'I am pleased to report solid second quarter results, which demonstrate how we are effectively managing the business in a dynamic operating environment while positioning for long-term growth and margin expansion,' said Steven B. Hedlund, Chair, President and Chief Executive Officer. 'With the progression of the business, our operating agility and strong cash generation, we are well positioned to continue to create value for our shareholders through the cycle.' Six Months 2025 Summary Net income for the six months ended June 30, 2025 was $261.9 million, or $4.66 EPS, which includes special item after-tax net charges of $5.6 million, or $0.10 EPS. This compares with prior year period net income of $225.1 million, or $3.91 EPS, which included special item after-tax net charges of $37.8 million, or $0.66 EPS. Excluding special items, adjusted net income for the six months ended June 30, 2025 was $267.5 million, or $4.76 EPS. This compares with adjusted net income of $262.9 million, or $4.57 adjusted EPS, in the prior year period. Sales increased 4.5% to $2,093.1 million in the six months ended June 30, 2025 primarily reflecting a 0.8% increase in organic sales and 3.9% benefit from acquisitions. Operating income for the six months ended June 30, 2025 was $357.1 million, or 17.1% of sales. This compares with operating income of $313.9 million, or 15.7% of sales, in the prior year period. Excluding special items, adjusted operating income was $364.6 million, or 17.4% of sales, as compared with $349.0 million, or 17.4% of sales, in the prior year period. Other Matters The Company has entered into an agreement to acquire the remaining 65% of Alloy Steel Australia (Int) Pty Ltd. ('Alloy Steel'), for approximately $90 million, which is expected to close on August 1, 2025, subject to the satisfaction of customary closing conditions. This transaction will result in the full ownership of Alloy Steel following the Company's April 1, 2025, acquisition of a 35% ownership interest. Alloy Steel supplies proprietary technology, engineering services and digital monitoring to the mining sector. Alloy Steel has annual revenues of approximately $50 million and their results will be reported in the International Welding segment. The acquisition is expected to be accretive to Company earnings, excluding transaction costs, at approximately $0.13 to $0.15 per diluted common share on an annual basis. Webcast Information A conference call to discuss second quarter 2025 financial results will be webcast live today, July 31, 2025, at 10:00 a.m., Eastern Time. Those interested in participating via webcast in listen-only mode can access the event here or on the Company's Investor Relations home page at For participants who would like to participate via telephone, please dial (888) 440-4368 (domestic) or (646) 960-0856 (international) and use confirmation code 6709091. A replay of the earnings call will be available via webcast on the Company's website. About Lincoln Electric Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers' fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln operates 71 manufacturing and automation system integration locations across 20 countries and maintains a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company's website at Non-GAAP Information Adjusted operating income, adjusted net income, adjusted EBIT, adjusted effective tax rate, adjusted diluted earnings per share ('adjusted EPS'), Organic sales, Cash conversion, adjusted net operating profit after taxes and adjusted return on invested capital ('adjusted ROIC') are non-GAAP financial measures. Management uses non-GAAP measures to assess the Company's operating performance by excluding certain disclosed special items that management believes are not representative of the Company's core business. Management believes that excluding these special items enables them to make better period-over-period comparisons and benchmark the Company's operational performance against other companies in its industry more meaningfully. Furthermore, management believes that non-GAAP financial measures provide investors with meaningful information that provides a more complete understanding of Company operating results and enables investors to analyze financial and business trends more thoroughly. Non-GAAP financial measures should not be viewed in isolation, are not a substitute for GAAP measures and have limitations including, but not limited to, their usefulness as comparative measures as other companies may define their non-GAAP measures differently. Forward-Looking Statements The Company's expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as 'may,' 'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'believe,' 'forecast,' 'guidance' or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. The factors include, but are not limited to: general economic, financial and market conditions; the effectiveness of commercial and operating initiatives; the effectiveness of information systems and cybersecurity programs; presence of artificial intelligence technologies; completion of planned divestitures; interest rates; disruptions, uncertainty or volatility in the credit markets that may limit our access to capital; currency exchange rates and devaluations; adverse outcome of pending or potential litigation; actual costs of the Company's rationalization plans; the Company's ability to complete acquisitions, including the Company's ability to successfully integrate acquisitions; market risks and price fluctuations related to the purchase of commodities and energy; global regulatory complexity; the effects of changes in tax law, including any changes from the new legislation implemented in the One Big Beautiful Bill Act; tariff rates in the countries where the Company conducts business; and the possible effects of events beyond our control, including but not limited to, the ongoing geopolitical conflicts, political unrest, acts of terror, natural disasters and pandemics on the Company or its customers, suppliers and the economy in general. For additional discussion, see 'Item 1A. Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and on Form 10-Q for the quarter ended March 31, 2025. Fav (Unfav) to Six Months Ended June 30, Prior Year 2025 % of Sales 2024 % of Sales $ % Net sales $ 2,093,061 100.0 % $ 2,002,880 100.0 % $ 90,181 4.5 % Cost of goods sold 1,322,066 63.2 % 1,250,668 62.4 % (71,398) (5.7) % Gross profit 770,995 36.8 % 752,212 37.6 % 18,783 2.5 % Selling, general & administrative expenses 407,526 19.5 % 407,232 20.3 % (294) (0.1) % Rationalization and asset impairment charges 6,407 0.3 % 31,095 1.6 % 24,688 79.4 % Operating income 357,062 17.1 % 313,885 15.7 % 43,177 13.8 % Interest expense, net 24,746 1.2 % 19,440 1.0 % (5,306) (27.3) % Other income 4,478 0.2 % 709 — 3,769 531.6 % Income before income taxes 336,794 16.1 % 295,154 14.7 % 41,640 14.1 % Income taxes 74,911 3.6 % 70,031 3.5 % (4,880) (7.0) % Effective tax rate 22.2 % 23.7 % 1.5 % Net income $ 261,883 12.5 % $ 225,123 11.2 % $ 36,760 16.3 % Basic earnings per share $ 4.69 $ 3.96 $ 0.73 18.4 % Diluted earnings per share $ 4.66 $ 3.91 $ 0.75 19.2 % Weighted average shares (basic) 55,801 56,841 Weighted average shares (diluted) 56,242 57,505 Expand Lincoln Electric Holdings, Inc. Financial Highlights (In thousands) (Unaudited) Balance Sheet Highlights Selected Consolidated Balance Sheet Data June 30, 2025 December 31, 2024 Cash and cash equivalents $ 299,481 $ 377,262 Accounts receivable, net 554,277 481,979 Inventories 621,440 544,037 Total current assets 1,725,226 1,645,281 Property, plant and equipment, net 660,672 619,181 Total assets 3,727,369 3,520,142 Trade accounts payable 375,833 296,590 Total current liabilities (1) 1,025,239 878,802 Long-term debt, less current portion 1,150,395 1,150,551 Total equity 1,379,613 1,327,433 Operating Working Capital June 30, 2025 December 31, 2024 Average operating working capital to Net sales (2) 18.4 % 16.9 % Invested Capital June 30, 2025 December 31, 2024 Short-term debt (1) $ 105,323 $ 110,524 Long-term debt, less current portion 1,150,395 1,150,551 Total debt 1,255,718 1,261,075 Total equity 1,379,613 1,327,433 Invested capital $ 2,635,331 $ 2,588,508 Total debt / invested capital 47.6 % 48.7 % Expand (1) Includes current portion of long-term debt. (2) Average operating working capital to Net sales is defined as the sum of Accounts receivable, Inventories and contract assets less Trade accounts payable and contract liabilities as of period end divided by annualized rolling three months of Net sales. Expand Lincoln Electric Holdings, Inc. Financial Highlights (In thousands, except per share amounts) (Unaudited) Non-GAAP Financial Measures Three Months Ended June 30, Six Months Ended June 30, Operating income as reported $ 192,144 $ 148,838 $ 357,062 $ 313,885 Special items (pre-tax): Rationalization and asset impairment charges (2) 2,542 26,490 6,407 31,095 Acquisition transaction costs (3) 429 2,182 1,231 3,944 Amortization of step up in value of acquired inventories (4) — 112 (140) 112 Adjusted operating income (1) $ 195,115 $ 177,622 $ 364,560 $ 349,036 As a percent of net sales 17.9 % 17.4 % 17.4 % 17.4 % Net income as reported $ 143,396 $ 101,708 $ 261,883 $ 225,123 Special items: Rationalization and asset impairment charges (2) 2,542 26,490 6,407 31,095 Acquisition transaction costs (3) 429 2,182 1,231 3,944 Amortization of step up in value of acquired inventories (4) — 112 (140) 112 Loss on asset disposal (5) — 4,950 — 4,950 Tax effect of Special items (6) (755) (1,182) (1,913) (2,308) Adjusted net income (1) 145,612 134,260 267,468 262,916 Interest expense, net 12,619 10,661 24,746 19,440 Income taxes as reported 40,163 34,916 74,911 70,031 Tax effect of Special items (6) 755 1,182 1,913 2,308 Adjusted EBIT (1) $ 199,149 $ 181,019 $ 369,038 $ 354,695 Effective tax rate as reported 21.9 % 25.6 % 22.2 % 23.7 % Net special item tax impact 0.0 % (4.4) % 0.1 % (2.1) % Adjusted effective tax rate (1) 21.9 % 21.2 % 22.3 % 21.6 % Diluted earnings per share as reported $ 2.56 $ 1.77 $ 4.66 $ 3.91 Special items per share 0.04 0.57 0.10 0.66 Adjusted diluted earnings per share (1) $ 2.60 $ 2.34 $ 4.76 $ 4.57 Weighted average shares (diluted) 55,968 57,366 56,242 57,505 Expand (1) Adjusted operating income, adjusted net income, adjusted EBIT, adjusted effective tax rate and adjusted diluted EPS are non-GAAP financial measures. Refer to Non-GAAP Information section. (2) 2025 charges primarily relate to rationalization plans initiated in Americas Welding and International Welding. 2024 charges primarily relate to rationalization plans initiated within International Welding and the Harris Products Group. (3) Transaction costs related to acquisitions which are included in Selling, general & administrative expenses. (4) Costs related to acquisitions which are included in Cost of goods sold. (5) Loss on asset disposal included in Other income (expense). (6) Includes the net tax impact of Special items recorded during the respective periods. The tax effect of Special items impacting pre-tax income was calculated as the pre-tax amount multiplied by the applicable tax rate. The applicable tax rates reflect the taxable jurisdiction and nature of each Special item. Expand Lincoln Electric Holdings, Inc. Financial Highlights (In thousands, except per share amounts) (Unaudited) Non-GAAP Financial Measures Twelve Months Ended June 30, Return on Invested Capital 2025 2024 Net income as reported $ 502,868 $ 511,110 Plus: Interest expense (after-tax) 42,688 36,607 Less: Interest income (after-tax) 6,636 7,654 Net operating profit after taxes $ 538,920 $ 540,063 Special Items: Rationalization and asset impairment charges 31,172 16,237 Acquisition transaction costs 4,332 3,944 Pension settlement charges 3,792 845 Amortization of step up in value of acquired inventories 4,771 4,964 Loss on asset disposal — 4,950 Tax effect of Special items (2) (11,118) 2,357 Adjusted net operating profit after taxes (1) $ 571,869 $ 573,360 Invested Capital June 30, 2025 June 30, 2024 Short-term debt $ 105,323 $ 6,254 Long-term debt, less current portion 1,150,395 1,098,430 Total debt 1,255,718 1,104,684 Total equity 1,379,613 1,312,906 Invested capital $ 2,635,331 $ 2,417,590 Return on invested capital as reported 20.4 % 22.3 % Adjusted return on invested capital (1) 21.7 % 23.7 % Expand (1) Adjusted net operating profit after taxes and adjusted ROIC are non-GAAP financial measures. Refer to Non-GAAP Information section. (2) Includes the net tax impact of Special items recorded during the respective periods. The tax effect of Special items impacting pre-tax income was calculated as the pre-tax amount multiplied by the applicable tax rate. The applicable tax rates reflect the taxable jurisdiction and nature of each Special item. Expand Lincoln Electric Holdings, Inc. Financial Highlights (In thousands, except per share amounts) (Unaudited) Condensed Consolidated Statements of Cash Flows Six Months Ended June 30, 2025 2024 OPERATING ACTIVITIES: Net income $ 261,883 $ 225,123 Adjustments to reconcile Net income to Net cash provided by operating activities: Rationalization and asset impairment net charges 675 23,751 Depreciation and amortization 48,246 42,451 Other non-cash items, net (14,919 ) 16,535 Changes in operating assets and liabilities, net of effects from acquisitions: Increase in accounts receivable (52,208 ) (14,484 ) Increase in inventories (47,648 ) (27,626 ) Increase in other current assets (3,408 ) (5,153 ) Increase in trade accounts payable 68,092 28,956 Increase (decrease) in other current liabilities 68,579 (5,092 ) Net change in other long-term assets and liabilities 229 19,520 NET CASH PROVIDED BY OPERATING ACTIVITIES 329,521 303,981 INVESTING ACTIVITIES: Capital expenditures (52,392 ) (49,395 ) Acquisition of businesses, net of cash acquired (32,309 ) (152,654 ) Proceeds from sale of property, plant and equipment 5,231 1,303 NET CASH USED BY INVESTING ACTIVITIES (79,470 ) (200,746 ) FINANCING ACTIVITIES: Payments on short-term borrowings (5,206 ) (578 ) Proceeds from long-term borrowings — 400,000 Payments on long-term borrowings (169 ) (400,339 ) Proceeds from exercise of stock options 6,394 24,981 Purchase of shares for treasury (233,824 ) (160,820 ) Cash dividends paid to shareholders (84,904 ) (81,696 ) NET CASH USED BY FINANCING ACTIVITIES (317,709 ) (218,452 ) Effect of exchange rate changes on Cash and cash equivalents (10,123 ) (5,898 ) Cash and cash equivalents at beginning of period 377,262 393,787 Cash and cash equivalents at end of period $ 299,481 $ 272,672 Cash dividends paid per share $ 1.50 $ 1.42 Expand Lincoln Electric Holdings, Inc. Segment Highlights (1) (In thousands) (Unaudited) Net sales $ 696,730 $ 232,824 $ 159,119 $ — $ 1,088,673 Inter-segment sales 43,391 7,641 5,110 (56,142) — Total sales $ 740,121 $ 240,465 $ 164,229 $ (56,142) $ 1,088,673 Net income $ 143,396 As a percent of total sales 13.2 % EBIT (1) $ 137,010 $ 28,999 $ 31,798 $ (1,629) $ 196,178 As a percent of total sales 18.5 % 12.1 % 19.4 % 18.0 % Special items charges (3) 905 1,551 86 429 2,971 Adjusted EBIT (2) $ 137,915 $ 30,550 $ 31,884 $ (1,200) $ 199,149 As a percent of total sales 18.6 % 12.7 % 19.4 % 18.3 % Three months ended June 30, 2024 Net sales $ 648,936 $ 238,758 $ 133,989 $ — $ 1,021,683 Inter-segment sales 37,800 8,849 3,272 (49,921) — Total sales $ 686,736 $ 247,607 $ 137,261 $ (49,921) $ 1,021,683 Net income $ 101,708 As a percent of total sales 10 % EBIT (1) $ 136,297 $ (5,525) $ 25,063 $ (8,550) $ 147,285 As a percent of total sales 19.8 % (2.2) % 18.3 % 14.4 % Special items charges (4) 354 31,234 (140) 2,286 33,734 Adjusted EBIT (2) $ 136,651 $ 25,709 $ 24,923 $ (6,264) $ 181,019 As a percent of total sales 19.9 % 10.4 % 18.2 % 17.7 % Expand (1) EBIT is defined as Operating income plus Other income. (2) The primary profit measure used by management to assess segment performance is adjusted EBIT. EBIT for each operating segment is adjusted for special items to derive adjusted EBIT. (3) Special items in 2025 primarily reflect Rationalization and asset impairments net charges of $905 in Americas Welding, $1,551 in International Welding and $86 in Harris Products Group, as well as acquisition transaction costs of $429 in Corporate/Eliminations. Expand Lincoln Electric Holdings, Inc. Segment Highlights (In thousands) (Unaudited) Six months ended June 30, 2025 Net sales $ 1,349,837 $ 451,885 $ 291,339 $ — $ 2,093,061 Inter-segment sales 73,763 14,473 9,094 (97,330) — Total sales $ 1,423,600 $ 466,358 $ 300,433 $ (97,330) $ 2,093,061 Net income $ 261,883 As a percent of total sales 12.5 % EBIT (1) $ 259,073 $ 50,599 $ 55,949 $ (4,081) $ 361,540 As a percent of total sales 18.2 % 10.8 % 18.6 % 17.3 % Special items charges (3) 3,040 2,963 264 1,231 7,498 Adjusted EBIT (2) $ 262,113 $ 53,562 $ 56,213 $ (2,850) $ 369,038 As a percent of total sales 18.4 % 11.5 % 18.7 % 17.6 % Six months ended June 30, 2024 Net sales $ 1,273,035 $ 474,519 $ 255,326 $ — $ 2,002,880 Inter-segment sales 67,778 17,257 6,365 (91,400) — Total sales $ 1,340,813 $ 491,776 $ 261,691 $ (91,400) $ 2,002,880 Net income $ 225,123 As a percent of total sales 11.2 % EBIT (1) $ 272,396 $ 19,182 $ 43,406 $ (20,390) $ 314,594 As a percent of total sales 20.3 % 3.9 % 16.6 % 15.7 % Special items charges (4) 354 34,304 1,396 4,047 40,101 Adjusted EBIT (2) $ 272,750 $ 53,486 $ 44,802 $ (16,343) $ 354,695 As a percent of total sales 20.3 % 10.9 % 17.1 % 17.7 % Expand (1) EBIT is defined as Operating income plus Other income. (2) The primary profit measure used by management to assess segment performance is adjusted EBIT. EBIT for each operating segment is adjusted for special items to derive adjusted EBIT. (3) Special items in 2025 primarily reflect Rationalization and asset impairments net charges of $3,040 in Americas Welding, $3,103 in International Welding and $264 in Harris Products Group, as well as acquisition transaction costs of $1,231 in Corporate/Eliminations. (4) Special items in 2024 primarily reflect rationalization net charges of $29,354 in International Welding, primarily due to the impact of the Company's disposition of its Russian entity, and $1,396 in the Harris Products Group, a loss on asset disposal of $4,950 recorded to Other income (expense) in International Welding, and acquisition transaction costs of $3,944 in Corporate/Eliminations. Expand Six Months Ended June 30 th Change in Net Sales by Segment Operating Segments Americas Welding $ 1,273,035 $ (47,086) $ 55,634 $ 77,519 $ (9,265) $ 1,349,837 International Welding 474,519 (29,820) 1,680 1,130 4,376 451,885 The Harris Products Group 255,326 15,458 21,392 — (837) 291,339 % Change Americas Welding (3.7) % 4.4 % 6.1 % (0.8) % 6.0 % International Welding (6.3) % 0.4 % 0.2 % 0.9 % (4.8) % The Harris Products Group 6.1 % 8.4 % — (0.4) % 14.1 % Consolidated (3.1) % 3.9 % 3.9 % (0.2) % 4.5 % Expand
Yahoo
10-06-2025
- Business
- Yahoo
Lincoln Electric to Ring the Nasdaq Opening Bell on June 10, 2025
Event Honors the Company's 30th Year Listed on the NASDAQ and its 130th Anniversary CLEVELAND, June 10, 2025--(BUSINESS WIRE)--Lincoln Electric Holdings, Inc. (Nasdaq: LECO) ("the Company"), the leading global manufacturer of advanced arc welding solutions, announced today that the Company will ring the Nasdaq Stock Market opening bell on Tuesday, June 10, 2025, which will begin at approximately 9:15am ET. Chair, President and CEO, Steven B. Hedlund, along with members of the Company's Board of Directors and its leadership team, will participate in the ceremonial bell ringing at the Nasdaq MarketSite in Times Square. The event recognizes the Company's 30th anniversary listed on the NASDAQ and marks the Company's 130 years of innovative leadership in the arc welding industry since its founding in 1895. "We are honored to be invited to Nasdaq to participate in the opening bell ceremony to mark two exciting milestones in Lincoln Electric's storied history," said Hedlund. "The event provides a meaningful occasion to recognize our organization's long standing success and the superior value we continue to generate. This would not be possible without the hard work and ingenuity of our dedicated team, as well as the trust and unwavering support of our customers, partners and shareholders." The live broadcast will begin at 9:15 am ET and will be live-streamed at from the Nasdaq MarketSite Tower in New York City and is also available on Nasdaq's X and Facebook pages. About Lincoln Electric Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers' fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln operates 71 manufacturing and automation system integration locations across 20 countries and maintains a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company's website at View source version on Contacts Amanda ButlerVice President, Investor Relations & CommunicationsTel: 216.383.2534Email: Amanda_Butler@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
10-06-2025
- Business
- Business Wire
Lincoln Electric to Ring the Nasdaq Opening Bell on June 10, 2025
CLEVELAND--(BUSINESS WIRE)--Lincoln Electric Holdings, Inc. (Nasdaq: LECO) ('the Company'), the leading global manufacturer of advanced arc welding solutions, announced today that the Company will ring the Nasdaq Stock Market opening bell on Tuesday, June 10, 2025, which will begin at approximately 9:15am ET. "We are honored to be invited to Nasdaq to participate in the opening bell ceremony to mark two exciting milestones in Lincoln Electric's storied history." Share Chair, President and CEO, Steven B. Hedlund, along with members of the Company's Board of Directors and its leadership team, will participate in the ceremonial bell ringing at the Nasdaq MarketSite in Times Square. The event recognizes the Company's 30 th anniversary listed on the NASDAQ and marks the Company's 130 years of innovative leadership in the arc welding industry since its founding in 1895. 'We are honored to be invited to Nasdaq to participate in the opening bell ceremony to mark two exciting milestones in Lincoln Electric's storied history,' said Hedlund. 'The event provides a meaningful occasion to recognize our organization's long standing success and the superior value we continue to generate. This would not be possible without the hard work and ingenuity of our dedicated team, as well as the trust and unwavering support of our customers, partners and shareholders.' The live broadcast will begin at 9:15 am ET and will be live-streamed at from the Nasdaq MarketSite Tower in New York City and is also available on Nasdaq's X and Facebook pages. About Lincoln Electric Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers' fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln operates 71 manufacturing and automation system integration locations across 20 countries and maintains a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company's website at
Yahoo
30-04-2025
- Business
- Yahoo
Lincoln Electric (NASDAQ:LECO) Beats Q1 Sales Targets
Welding equipment manufacturer Lincoln Electric (NASDAQ:LECO) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 2.4% year on year to $1.00 billion. Its non-GAAP profit of $2.16 per share was 3.2% below analysts' consensus estimates. Is now the time to buy Lincoln Electric? Find out in our full research report. Revenue: $1.00 billion vs analyst estimates of $976.1 million (2.4% year-on-year growth, 2.9% beat) Adjusted EPS: $2.16 vs analyst expectations of $2.23 (3.2% miss) Adjusted EBITDA: $188.7 million vs analyst estimates of $197.6 million (18.8% margin, 4.5% miss) Operating Margin: 16.4%, in line with the same quarter last year Free Cash Flow Margin: 15.8%, up from 10.9% in the same quarter last year Organic Revenue fell 1.2% year on year (-6.2% in the same quarter last year) Market Capitalization: $10.31 billion 'We continued to execute well in the quarter with solid core operating results,' said Steven B. Hedlund, Chair, President and Chief Executive Officer. Headquartered in Ohio, Lincoln Electric (NASDAQ:LECO) manufactures and sells welding equipment for various industries. Reviewing a company's long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Over the last five years, Lincoln Electric grew its sales at a mediocre 6.5% compounded annual growth rate. This fell short of our benchmark for the industrials sector and is a tough starting point for our analysis. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Lincoln Electric's recent performance shows its demand has slowed as its annualized revenue growth of 2% over the last two years was below its five-year trend. We can dig further into the company's sales dynamics by analyzing its organic revenue, which strips out one-time events like acquisitions and currency fluctuations that don't accurately reflect its fundamentals. Over the last two years, Lincoln Electric's organic revenue averaged 2.5% year-on-year declines. Because this number is lower than its normal revenue growth, we can see that some mixture of acquisitions and foreign exchange rates boosted its headline results. This quarter, Lincoln Electric reported modest year-on-year revenue growth of 2.4% but beat Wall Street's estimates by 2.9%. Looking ahead, sell-side analysts expect revenue to grow 1.1% over the next 12 months, similar to its two-year rate. This projection is underwhelming and implies its newer products and services will not catalyze better top-line performance yet. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Lincoln Electric has been an efficient company over the last five years. It was one of the more profitable businesses in the industrials sector, boasting an average operating margin of 15.4%. This result isn't too surprising as its gross margin gives it a favorable starting point. Analyzing the trend in its profitability, Lincoln Electric's operating margin rose by 4.5 percentage points over the last five years, as its sales growth gave it operating leverage. In Q1, Lincoln Electric generated an operating profit margin of 16.4%, in line with the same quarter last year. This indicates the company's cost structure has recently been stable. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Lincoln Electric's EPS grew at a spectacular 15.3% compounded annual growth rate over the last five years, higher than its 6.5% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. We can take a deeper look into Lincoln Electric's earnings to better understand the drivers of its performance. As we mentioned earlier, Lincoln Electric's operating margin was flat this quarter but expanded by 4.5 percentage points over the last five years. On top of that, its share count shrank by 7%. These are positive signs for shareholders because improving profitability and share buybacks turbocharge EPS growth relative to revenue growth. Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For Lincoln Electric, its two-year annual EPS growth of 5.4% was lower than its five-year trend. We hope its growth can accelerate in the future. In Q1, Lincoln Electric reported EPS at $2.16, down from $2.23 in the same quarter last year. This print missed analysts' estimates, but we care more about long-term EPS growth than short-term movements. Over the next 12 months, Wall Street expects Lincoln Electric's full-year EPS of $9.21 to grow 2.5%. We enjoyed seeing Lincoln Electric beat analysts' revenue expectations this quarter. We were also happy its organic revenue narrowly outperformed Wall Street's estimates. On the other hand, its EBITDA missed and its EPS fell short of Wall Street's estimates. Overall, this was a mixed quarter. The stock remained flat at $184 immediately after reporting. Is Lincoln Electric an attractive investment opportunity right now? We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
