Lincoln Electric: Q1 Earnings Snapshot
By AP News
Published - Apr 25, 2024, 07:59 AM ET
Last Updated - May 27, 2024, 01:07 AM EDT
CLEVELAND (AP) — CLEVELAND (AP) — Lincoln Electric Holdings Inc. (LECO) on Thursday reported first-quarter earnings of $123.4 million.
On a per-share basis, the Cleveland-based company said it had profit of $2.14. Earnings, adjusted for one-time gains and costs, were $2.23 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The manufacturer of specialized welding products and other equipment posted revenue of $981.2 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $1.04 billion.
