Lincoln Electric posts record Q3 sales of $806.5M; adjusted EPS up 41.8% to $1.56

LINCOLN ELECTRIC HOLDINGS INC

2021-Q3 EPS reported $3.36 revenue$2,389,929,000

Net sales increased 20.6% to a record $806.5M; organic sales grew 18.3%.
Adjusted EPS of $1.56 vs. $1.10 a year ago; GAAP EPS of $0.53 includes $73.6M pension termination charge.
Adjusted operating margin expanded 260 bps to 15.2%; ROIC rose 440 bps to 22.8%.
Quarterly dividend raised 9.8% to $0.56/share, payable Jan 14, 2022 to holders of record Dec 31, 2021.
Q4 estimated pre-tax pension settlement charges of $35M-$45M from annuity purchase.

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