Lincoln Electric Q1 Profit Rises 6.4% YoY; Organic Sales Up 0.9%
Lincoln Electric Holdings, Inc. (LECO) reported first-quarter adjusted net income of $75.0 million, or $1.17 per share compared to $73.3 million, or $1.10 per share, last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $1.22 for the quarter. Analysts’ estimates typically exclude special items.
First-quarter sales increased 0.2% to $759.2 million with a 0.9% increase in organic sales. Analysts expected revenue of $767.35 million for the quarter.
Christopher Mapes, CEO, said., “During this cautious period in the cycle, we remain focused on profitable growth and improving returns. Exciting new product launches, acquisitions and a strong balance sheet position us well to continue to generate value for all of our stakeholders.”
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