Lincoln Electric Holdings Inc

NASDAQ:LECOUnited States

Oct 31, 2024

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• Lincoln Electric Q3 Adjusted Earnings, Sales Fall, from 8:54AM ET on Thursday Oct 31, 2024 by MT Newswires

  8:54AM ET on Thursday Oct 31, 2024 by MT Newswires
  Companies Mentioned: LECO
  08:54 AM EDT, 10/31/2024 (MT Newswires) -- Lincoln Electric (LECO) reported Q3 adjusted earnings Thursday of $2.14 per diluted share, down from $2.40 a year earlier. Analysts polled by Capital IQ expected $2.05. Net sales for the quarter ended Sept....

• -- Earnings Flash (LECO) LINCOLN ELECTRIC HOLDINGS Posts Q3 Revenue $983.8M, from 7:35AM ET on Thursday Oct 31, 2024 by MT Newswires

  7:35AM ET on Thursday Oct 31, 2024 by MT Newswires
  Companies Mentioned: LECO
  07:35 AM EDT, 10/31/2024 (MT Newswires) -- ...

• -- Earnings Flash (LECO) LINCOLN ELECTRIC HOLDINGS Posts Q3 EPS $2.14, from 7:35AM ET on Thursday Oct 31, 2024 by MT Newswires

  7:35AM ET on Thursday Oct 31, 2024 by MT Newswires
  Companies Mentioned: LECO
  07:35 AM EDT, 10/31/2024 (MT Newswires) -- ...

• *DJ Lincoln Electric 3Q EPS $1.77 >LECO, from 7:30AM ET on Thursday Oct 31, 2024 by Dow Jones

  7:30AM ET on Thursday Oct 31, 2024 by Dow Jones
  Companies Mentioned: LECO
  Total sales $2,008,685 $ 715,371 $395,355 $ (132,772) $ 2,986,639 ========= =========== ======= ========= ========== Net income $ 325,879 As a percent of total sales 10.9% EBIT (1) $ 374,554 $ 36,357 $ 64,095 $ (16,496) $ 458,510 As a percent of total sales 18.6% 5.1% 16.2% 15.4% Special items charges (3) 23,711 37,230 2,666 4,656 68,263 --------- ----------- ------- --------- ---------- Adjusted EBIT (2) $ 398,265 $ 73,587 $ 66,761 $ (11,840) $ 526,773 ========= =========== ======= ========= ========== As a percent of total sales 19.8% 10.3% 16.9% 17.6% Nine months ended September 30, 2023 Net sales $2,000,839 $ 747,829 $384,454 $ -- $ 3,133,122 Inter-segment sales 92,043 19,941 8,063 (120,047) -- --------- ----------- ------- --------- ---------- Total sales $2,092,882 $ 767,770 $392,517 $ (120,047) $ 3,133,122 ========= =========== ======= ========= ========== Net income $ 388,605 As a percent of total sales 12.4% EBIT (1) $ 399,002 $ 82,183 $ 58,898 $ (14,538) $ 525,545 As a percent of total sales 19.1% 10.7% 15.0% 16.8% Special items charges (4) 9,798 11,426 -- -- 21,224 --------- ----------- ------- --------- ---------- Adjusted EBIT (2) $ 408,800 $ 93,609 $ 58,898 $ (14,538) $ 546,769 ========= =========== ======= ========= ========== As a percent of total sales 19.5% 12.2% 15.0% 17.5% (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 2024 primarily reflect rationalization net charges of $16,521 in Americas Welding, $32,030 in International Welding, including the impact of the Company's disposition of its Russian entity, and $2,666 in Harris Products Group. In addition, there was a loss on asset disposal of $4,950 recorded to Other (expense) income in International Welding, an amortization of step up in value of acquired inventories of $3,224 and $250 in Americas Welding and International Welding, respectively, pension settlement charges of $3,966 in Americas Welding, and acquisition transaction costs of $4,551 in Corporate/Eliminations. (4) Special items in 2023 primarily reflect amortization of step up in value of acquired inventories of $9,390 and $2,862 in Americas and International Welding, respectively, Rationalization and asset impairment net charges of $408 and $10,210 in Americas and International Welding, respectively, and a gain on asset disposal of $1,646 in International Welding. Lincoln Electric Holdings, Inc. Change in Net Sales by Segment (In thousands) (Unaudited) Three Months Ended September 30(th) Change in Net Sales by Segment Change in Net Sales due to: --------------------------------------------------------- Net Sales Foreign Net Sales 2023 Volume Acquisitions Price Exchange 2024 ---------- --------- -------------- -------- -------- -------- Operating Segments Americas Welding $ 665,228 $(57,292) $ 30,212 $ 2,505 $(3,627) $637,026 International Welding 242,010 (28,899) 1,064 (1,349) 3,398 216,224 The Harris Products Group 125,976 (3,727) -- 8,898 (638) 130,509 --------- ------- ---------- ------ ------ ------- Consolidated $1,033,214 $(89,918) $ 31,276 $10,054 $ (867) $983,759 ========= ======= ========== ====== ====== ======= % Change Americas Welding (8.6) % 4.5% 0.4 % (0.5) % (4.2) % International Welding (11.9) % 0.4% (0.6) % 1.4 % (10.7) % The Harris Products Group (3.0) % -- 7.1 % (0.5) % 3.6 % Consolidated (8.7) % 3.0% 1.0 % (0.1) % (4.8) % Nine Months Ended September 30(th) Change in Net Sales by Segment Change in Net Sales due to: ---------------------------------------------------------- Net Sales Foreign Net Sales 2023 Volume Acquisitions Price Exchange 2024 ---------- ---------- -------------- -------- -------- ---------- Operating Segments Americas Welding $2,000,839 $(145,610) $ 46,796 $11,311 $(3,275) $1,910,061 International Welding 747,829 (50,728) 1,121 (8,508) 1,029 690,743 The Harris Products Group 384,454 (15,106) -- 17,069 (582) 385,835 --------- -------- ---------- ------ ------ --------- Consolidated $3,133,122 $(211,444) $ 47,917 $19,872 $(2,828) $2,986,639 ========= ======== ========== ====== ====== ========= % Change Americas Welding (7.3) % 2.3% 0.6 % (0.2) % (4.5) % International Welding (6.8) % 0.1% (1.1) % 0.1 % (7.6) % The Harris Products Group (3.9) % -- 4.4 % (0.2) % 0.4 % Consolidated (6.7) % 1.5% 0.6 % (0.1) % (4.7) %