LECO
Lincoln Electric Holdings, Inc.243.46
-0.78-0.32%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms growth; details automation orders
Q&A largely reaffirmed the prepared script's 2026 mid-single digit growth outlook, with added color on automation's strong Q4 order wins—mostly large automotive projects—driving expected mid-single recovery from 2025's decline, though smaller fabricators remain cautious on capex. Enterprise RISE initiatives, like center-led functions, will phase in high-20s incrementals steadily over five years. Pricing holds neutral, Harris metals adder neutralizes volatility. Automation stays dilutive near-term but targets mid-teens margins long-term. No consumables inflection despite PMI uptick. Center-led boosts efficiency without killing agility. Investors eye capex broadening and Europe-independent int'l growth.
Key Stats
Market Cap
13.44BP/E (TTM)
26.12Basic EPS (TTM)
9.32Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
Lincoln Electric drove FY2025 net sales to $4.23B, up 5.6% y/y on 6.2% pricing amid higher input costs, despite 3.7% volume dip from softer capital spending; Harris Products Group surged 13.4% while Americas Welding grew 6.2%. Operating income hit 17.0% of sales, up from 15.9%, with Adjusted EBIT steady at 17.8% thanks to cost controls offsetting LIFO charges. Q4 buybacks tallied 211K shares under the ongoing program; cash flow funded $661M ops, $169M dividends. Strong balance sheet holds $309M cash, $1.3B debt. Yet cyclical welding demand ties momentum to industrial capex.
8-K
Q4 sales up 5.5%, adj. EPS $2.65
Lincoln Electric reported Q4 2025 net sales up 5.5% to $1,079 million, with organic growth of 2.5%, but GAAP EPS dipped to $2.45 from $2.47 while adjusted EPS climbed to $2.65. Full-year sales rose 5.6% to $4,233 million, adjusted EPS hit $9.87, and operations generated $661 million in cash—returned $507 million to shareholders. Strong pricing offset volume drops. RISE strategy eyes 2030 targets.
10-Q
Q3 FY2025 results
Lincoln Electric drove Q3 sales to $1.1B, up 7.9% y/y, with pricing offsetting softer volumes while acquisitions added 1.7%; operating income climbed 21% to $177M (16.6% margin, from 14.8%) as rationalization charges plunged 71%. Diluted EPS hit $2.21, up 25% y/y on 55.6M shares. Operating cash flow tallied $566M YTD, funding $137M Alloy Steel buy (April/August 2025, $131M net cash) and $286M buybacks; cash sits at $293M with $1.2B debt and $915M revolver room. Free cash flow not disclosed in the 10-Q. Share repurchases accelerate nicely.
8-K
Q3 sales soar 7.9%
Lincoln Electric posted Q3 net sales up 7.9% to $1,061M, fueled by 5.6% organic growth and acquisitions, lifting operating margin to 16.6% from 14.8%. Adjusted EPS climbed to $2.47, with operations gushing $237M cash at 149% conversion. Board hiked dividend 5.3% to $0.79/share. Cash flows crush expectations.
8-K
New executive severance plan adopted
Lincoln Electric Holdings adopted the Executive Severance Plan on October 15, 2025, effective November 1, replacing prior change-in-control agreements for senior executives including CEO Steven Hedlund. It offers tiered benefits for involuntary terminations: pre-CIC cash severance multiples of 2 for CEO, 1 for Tier 2, and 0.75 for Tier 3, paid over 24, 12, or 9 months, plus prorated bonuses and COBRA coverage. Post-CIC, enhanced multiples rise to 3, 2, and 1 in lump sums, with outplacement up to $30,000. This modernizes retention amid uncertainty, yet ties payouts to releases and covenants.
IPO
Employees
Sector
Industry
ABBNY
ABB Ltd.
73.43-0.33
ESAB
ESAB Corporation
114.39-1.06
GNRC
Generac Holdlings Inc.
155.36-3.07
HIHO
Highway Holdings Limited
1.07+0.03
ITW
Illinois Tool Works Inc.
250.66-8.00
LINC
Lincoln Educational Services Co
23.21+0.37
LNKS
Linkers Industries Limited
0.32+0.01
SWK
Stanley Black & Decker, Inc.
72.80-1.35
TTC
Toro Company (The)
72.65-0.83
WOR
Worthington Enterprises, Inc.
56.29-1.45