Lincoln Electric Q3 sales beat on higher volumes

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Beat

$1.22 bln

$1.17 bln (9 Analysts)

Q3 Adjusted EPS

Beat

$2.98

$2.80 (11 Analysts)

Q3 EPS

$2.63

Q3 Net Income

$144.30 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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