Lincoln Electric posts record Q1 sales of $1,039M; adjusted EPS up to $2.13

LINCOLN ELECTRIC HOLDINGS INC

2023-Q1 EPS reported $2.09 revenue$1,039,343,000

Net sales +12.3% to record $1,039M; organic sales +8.5%; acquisitions contributed 5.7%.
Adjusted EPS $2.13 vs $2.10 prior year; GAAP EPS $2.09 (down from $2.13).
Record operating cash flow $124M, up 188% YoY; returned $70M to shareholders.
Adjusted operating margin 16.3% (down 130 bps YoY) on input costs and mix.
CEO cites strong demand momentum in Americas Welding and automation; integration of Fori on track.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LINCOLN ELECTRIC HOLDINGS INC reported first quarter 2023 results: revenue $1,039.3 million, net income $121.9 million, EPS $2.09.

Period: first quarter 2023
Revenue: $1,039.3 million
Net income: $121.9 million
EPS: $2.09
Result: reported results

Exact text from the filing

CLEVELAND, Thursday, April 27, 2023 - Lincoln Electric Holdings, Inc. (the “Company”) (Nasdaq: LECO) today reported first quarter 2023 net income of $121.9 million, or diluted earnings per share (EPS) of $2.09, which includes special item after-tax net charges of $2.3 million, or $0.04 EPS. This compares with prior year period net income of $126.0 million, or $2.13 EPS, which included special item after-tax net gains of $1.3 million, or $0.03 EPS. Excluding these items, first quarter 2023 adjusted net income was $124.2 million, or $2.13 adjusted EPS. This compares with adjusted net income of $124.7 million, or $2.10 adjusted EPS, in the prior year period. First quarter 2023 sales increased 12.3% to $1,039.3 million reflecting an 8.5% increase in organic sales and a 5.7% benefit from acquisitions, partially offset by 1.9% unfavorable foreign exchange.

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Source: SEC EDGAR

accession 0000059527-23-000008

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