Lincoln Electric Q3 sales beat on higher volumes

Overview

• Industrial machinery maker's Q3 sales rose 15.1%, beating analyst expectations, driven by volume growth

• Adjusted EPS for Q3 rose 21%, beating analyst expectations

• Company raised quarterly dividend by 10.1%

Outlook

• Company did not provide specific financial guidance or outlook in the press release

Result Drivers

• VOLUME GROWTH - Co said Q3 sales growth was primarily driven by higher volumes

• MARGIN EXPANSION - Co reported higher operating income margins in Q3

• INFLATION MANAGEMENT - Co said it managed inflationary headwinds during the quarter

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

• Wall Street's median 12-month price target for Lincoln Electric Holdings, Inc. is $317.00, about 22.6% above its October 26 closing price of $258.65

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 23 three months ago

Reuters Recommended Reads

• Oct 27 - Applied Industrial Technologies Q1 sales rise 7.6%

• Oct 27 - Sweden's Alfa Laval Q3 sales rise on order intake

• Oct 27 - Pentair Q3 sales beat estimates on water solutions growth; reaffirms profit guidance

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)