Lincoln Electric Reports Fourth Quarter and Full Year 2024 Results
Lincoln Electric (NASDAQ: LECO) reported Q4 2024 financial results with net sales of $1,022 million, down 3.4% year-over-year. The company posted Q4 operating income margin of 17.3% and adjusted operating income margin of 18.2%. Q4 EPS was $2.47, with adjusted EPS of $2.57.
For full-year 2024, net sales decreased 4.4% to $4.0 billion, reflecting a 6.5% decrease in organic sales, partially offset by a 2.5% benefit from acquisitions. Full-year operating income margin was 15.9%, with adjusted operating income margin at 17.6%. The company reported full-year EPS of $8.15 and adjusted EPS of $9.29.
The company generated strong cash flows from operations of $599 million and returned $426 million to shareholders through dividends and share repurchases in 2024. Despite challenging industrial sector demand, management highlighted strong execution of cost-saving actions and operational improvements advancing performance towards their 2025 Higher Standard Strategy goals.
Lincoln Electric (NASDAQ: LECO) ha riportato i risultati finanziari del quarto trimestre 2024 con vendite nette di 1.022 milioni di dollari, in calo del 3,4% rispetto all'anno precedente. L'azienda ha registrato un margine di reddito operativo del quarto trimestre del 17,3% e un margine di reddito operativo rettificato del 18,2%. L'EPS del quarto trimestre è stato di 2,47 dollari, con un EPS rettificato di 2,57 dollari.
Per l'intero anno 2024, le vendite nette sono diminuite del 4,4%, raggiungendo i 4,0 miliardi di dollari, riflettendo una diminuzione del 6,5% nelle vendite organiche, parzialmente compensata da un beneficio del 2,5% derivante da acquisizioni. Il margine di reddito operativo per l'intero anno è stato del 15,9%, con un margine di reddito operativo rettificato al 17,6%. L'azienda ha riportato un EPS annuale di 8,15 dollari e un EPS rettificato di 9,29 dollari.
L'azienda ha generato forti flussi di cassa dalle operazioni di 599 milioni di dollari e ha restituito 426 milioni di dollari agli azionisti attraverso dividendi e riacquisti di azioni nel 2024. Nonostante la domanda difficile nel settore industriale, la direzione ha evidenziato una forte esecuzione delle azioni di risparmio sui costi e miglioramenti operativi che avanzano le performance verso gli obiettivi della loro strategia Higher Standard del 2025.
Lincoln Electric (NASDAQ: LECO) informó sobre los resultados financieros del cuarto trimestre de 2024, con ventas netas de 1,022 millones de dólares, una disminución del 3.4% en comparación con el año anterior. La compañía reportó un margen de ingreso operativo del cuarto trimestre del 17.3% y un margen de ingreso operativo ajustado del 18.2%. El EPS del cuarto trimestre fue de 2.47 dólares, con un EPS ajustado de 2.57 dólares.
Para el año completo 2024, las ventas netas disminuyeron un 4.4% a 4.0 mil millones de dólares, reflejando una disminución del 6.5% en las ventas orgánicas, parcialmente compensada por un beneficio del 2.5% de adquisiciones. El margen de ingreso operativo para el año completo fue del 15.9%, con un margen de ingreso operativo ajustado del 17.6%. La compañía reportó un EPS anual de 8.15 dólares y un EPS ajustado de 9.29 dólares.
La compañía generó fuertes flujos de efectivo de operaciones de 599 millones de dólares y devolvió 426 millones de dólares a los accionistas a través de dividendos y recompra de acciones en 2024. A pesar de la demanda desafiante en el sector industrial, la dirección destacó la sólida ejecución de acciones de ahorro de costos y mejoras operativas que avanzan en el rendimiento hacia sus objetivos de la estrategia Higher Standard 2025.
링컨 일렉트릭 (NASDAQ: LECO)는 2024년 4분기 재무 결과를 보고하며, 순매출이 10억 2200만 달러로 전년 대비 3.4% 감소했다고 발표했습니다. 회사는 4분기 운영 소득 마진이 17.3%, 조정된 운영 소득 마진이 18.2%라고 밝혔습니다. 4분기 주당 순이익(EPS)은 2.47달러, 조정된 EPS는 2.57달러였습니다.
2024년 전체 연간 기준으로 순매출은 4.4% 감소하여 40억 달러에 달하며, 이는 유기적 매출이 6.5% 감소한 것과 관련이 있으며, 인수로 인한 2.5%의 혜택으로 부분적으로 상쇄되었습니다. 전체 운영 소득 마진은 15.9%였으며, 조정된 운영 소득 마진은 17.6%였습니다. 회사는 연간 EPS가 8.15달러, 조정된 EPS가 9.29달러라고 보고했습니다.
회사는 운영에서 5억 9900만 달러의 강력한 현금 흐름을 생성했으며, 2024년에는 배당금과 자사주 매입을 통해 주주에게 4억 2600만 달러를 반환했습니다. 산업 부문의 수요가 어려운 상황에서도 경영진은 비용 절감 조치와 운영 개선의 강력한 실행을 강조하며 2025년의 Higher Standard 전략 목표를 향한 성과를 향상시키고 있다고 밝혔습니다.
Lincoln Electric (NASDAQ: LECO) a annoncé les résultats financiers du quatrième trimestre 2024, avec des ventes nettes de 1,022 millions de dollars, en baisse de 3,4 % par rapport à l'année précédente. L'entreprise a enregistré une marge de revenu opérationnel de 17,3 % pour le quatrième trimestre et une marge de revenu opérationnel ajusté de 18,2 %. Le BPA du quatrième trimestre était de 2,47 dollars, avec un BPA ajusté de 2,57 dollars.
Pour l'année complète 2024, les ventes nettes ont diminué de 4,4 % pour atteindre 4,0 milliards de dollars, reflétant une baisse de 6,5 % des ventes organiques, partiellement compensée par un bénéfice de 2,5 % provenant des acquisitions. La marge de revenu opérationnel pour l'année complète était de 15,9 %, avec une marge de revenu opérationnel ajusté de 17,6 %. L'entreprise a rapporté un BPA annuel de 8,15 dollars et un BPA ajusté de 9,29 dollars.
L'entreprise a généré de solides flux de trésorerie provenant des opérations de 599 millions de dollars et a restitué 426 millions de dollars aux actionnaires par le biais de dividendes et de rachats d'actions en 2024. Malgré une demande difficile dans le secteur industriel, la direction a souligné la forte exécution des actions d'économies de coûts et des améliorations opérationnelles qui avancent la performance vers les objectifs de leur stratégie Higher Standard 2025.
Lincoln Electric (NASDAQ: LECO) berichtete über die Finanzergebnisse des vierten Quartals 2024 mit Nettoumsätzen von 1.022 Millionen Dollar, was einem Rückgang von 3,4 % im Jahresvergleich entspricht. Das Unternehmen verzeichnete eine Betriebsgewinnmarge im vierten Quartal von 17,3 % und eine angepasste Betriebsgewinnmarge von 18,2 %. Der EPS im vierten Quartal betrug 2,47 Dollar, mit einem angepassten EPS von 2,57 Dollar.
Für das gesamte Jahr 2024 sanken die Nettoumsätze um 4,4 % auf 4,0 Milliarden Dollar, was einen Rückgang der organischen Verkäufe um 6,5 % widerspiegelt, der teilweise durch einen Vorteil von 2,5 % aus Akquisitionen ausgeglichen wurde. Die Betriebsgewinnmarge für das gesamte Jahr betrug 15,9 %, während die angepasste Betriebsgewinnmarge bei 17,6 % lag. Das Unternehmen berichtete einen EPS für das gesamte Jahr von 8,15 Dollar und einen angepassten EPS von 9,29 Dollar.
Das Unternehmen erwirtschaftete starke Cashflows aus dem operativen Geschäft in Höhe von 599 Millionen Dollar und gab 426 Millionen Dollar an die Aktionäre zurück, unter anderem durch Dividenden und Aktienrückkäufe im Jahr 2024. Trotz der herausfordernden Nachfrage im Industriesektor hob das Management die starke Umsetzung von Kostensenkungsmaßnahmen und operativen Verbesserungen hervor, die die Leistung in Richtung ihrer Ziele der Higher Standard Strategie 2025 vorantreiben.
- Strong adjusted operating income margin improvement to 18.2% in Q4 2024 vs 17.2% in Q4 2023
- Robust cash flow from operations of $599 million for full year 2024
- Significant shareholder returns of $426 million through dividends and share repurchases
- Successful cost-saving initiatives and operational improvements
- Q4 net sales declined 3.4% to $1,022 million
- Full-year net sales decreased 4.4% to $4.0 billion
- Organic sales declined 6.5% for full year 2024
- Net income decreased 14.5% to $466.1 million for full year 2024
Insights
Lincoln Electric's Q4 2024 results demonstrate the company's operational resilience and effective cost management in a challenging industrial environment. Despite a
The balance sheet remains robust with
Particularly noteworthy is Lincoln's strong cash generation, with
The results underscore Lincoln's market leadership in welding solutions and automation systems, with strategic positioning in high-value segments helping to offset broader industrial sector weakness. The company's focus on operational excellence and strategic growth initiatives, combined with its strong financial position, provides a solid foundation for capitalizing on future market recovery.
Fourth Quarter 2024 Highlights
-
Net sales of
$1,022 million
-
Operating income margin of
17.3% ; Adjusted operating income margin of18.2%
-
EPS of
$2.47 $2.57
Full Year 2024 Highlights
-
Net sales of
$4.0 billion
-
Operating income margin of
15.9% ; Adjusted operating income margin of17.6%
-
EPS of
$8.15 $9.29
-
Cash flows from operations of
$599 million
-
Returned
$426 million
Fourth quarter 2024 sales decreased
“We are pleased with fourth quarter and full year operating profit margin and earnings performance despite challenging industrial sector demand as diligent price/cost management, strong execution of our cost saving actions and operational improvements advanced performance towards our 2025 Higher Standard Strategy goals,” stated Steven B. Hedlund, Chair, President and Chief Executive Officer. “Our focus on serving customers, driving employee engagement, and investing in long-term growth positions us well to capitalize on the next growth cycle and deliver superior value for our stakeholders.”
Twelve Months 2024 Summary
Net income for the twelve months ended December 31, 2024 was
Sales decreased
Webcast Information
A conference call to discuss fourth quarter 2024 financial results will be webcast live today, February 13, 2025, at 10:00 a.m., Eastern Time. Those interested in participating via webcast in listen-only mode can access the event here or on the Company's Investor Relations home page at https://ir.lincolnelectric.com. For participants who would like to participate via telephone, please dial (888) 440-4368 (domestic) or (646) 960-0856 (international) and use confirmation code 6709091. A replay of the earnings call will be available via webcast on the Company's website.
About Lincoln Electric
Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers’ fabrication capabilities to help them build a better world. Headquartered in
Non-GAAP Information
Adjusted operating income, adjusted net income, adjusted EBIT, adjusted effective tax rate, adjusted diluted earnings per share (“adjusted EPS”), Organic sales, Cash conversion, adjusted net operating profit after taxes and adjusted return on invested capital (“adjusted ROIC”) are non-GAAP financial measures. Management uses non-GAAP measures to assess the Company's operating performance by excluding certain disclosed special items that management believes are not representative of the Company's core business. Management believes that excluding these special items enables them to make better period-over-period comparisons and benchmark the Company's operational performance against other companies in its industry more meaningfully. Furthermore, management believes that non-GAAP financial measures provide investors with meaningful information that provides a more complete understanding of Company operating results and enables investors to analyze financial and business trends more thoroughly. Non-GAAP financial measures should not be viewed in isolation, are not a substitute for GAAP measures and have limitations including, but not limited to, their usefulness as comparative measures as other companies may define their non-GAAP measures differently.
Forward-Looking Statements
The Company’s expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “forecast,” “guidance” or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company’s operating results. The factors include, but are not limited to: general economic, financial and market conditions; the effectiveness of commercial and operating initiatives; the effectiveness of information systems and cybersecurity programs; presence of artificial intelligence technologies; completion of planned divestitures; interest rates; disruptions, uncertainty or volatility in the credit markets that may limit our access to capital; currency exchange rates and devaluations; adverse outcome of pending or potential litigation; actual costs of the Company’s rationalization plans; the Company’s ability to complete acquisitions, including the Company’s ability to successfully integrate acquisitions; market risks and price fluctuations related to the purchase of commodities and energy; global regulatory complexity; the effects of changes in tax law; tariff rates in the countries where the Company conducts business; and the possible effects of events beyond our control, including but not limited to, the ongoing conflicts between
Lincoln Electric Holdings, Inc.
Financial Highlights
(In thousands, except per share amounts)
(Unaudited)
Consolidated Statements of Income
|
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Fav (Unfav) to |
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Three Months Ended December 31, |
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Prior Year |
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||||||||||||
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2024 |
|
% of Sales |
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2023 |
|
% of Sales |
|
$ |
|
% |
|
||||
Net sales |
|
$ |
1,022,031 |
|
|
100.0 |
% |
$ |
1,058,514 |
|
100.0 |
% |
$ |
(36,483) |
|
(3.4) |
% |
Cost of goods sold |
|
|
653,409 |
|
|
63.9 |
% |
|
687,484 |
|
64.9 |
% |
|
34,075 |
|
5.0 |
% |
Gross profit |
|
|
368,622 |
|
|
36.1 |
% |
|
371,030 |
|
35.1 |
% |
|
(2,408) |
|
(0.6) |
% |
Selling, general & administrative expenses |
|
|
187,067 |
|
|
18.3 |
% |
|
188,931 |
|
17.8 |
% |
|
1,864 |
|
1.0 |
% |
Rationalization and asset impairment net charges |
|
|
4,538 |
|
|
0.4 |
% |
|
(21,932) |
|
(2.1) |
% |
|
(26,470) |
|
120.7 |
% |
Operating income |
|
|
177,017 |
|
|
17.3 |
% |
|
204,031 |
|
19.3 |
% |
|
(27,014) |
|
(13.2) |
% |
Interest expense, net |
|
|
11,372 |
|
|
1.1 |
% |
|
8,663 |
|
0.8 |
% |
|
(2,709) |
|
(31.3) |
% |
Other income |
|
|
1,408 |
|
|
0.1 |
% |
|
1,662 |
|
0.2 |
% |
|
(254) |
|
(15.3) |
% |
Income before income taxes |
|
|
167,053 |
|
|
16.3 |
% |
|
197,030 |
|
18.6 |
% |
|
(29,977) |
|
(15.2) |
% |
Income taxes |
|
|
26,824 |
|
|
2.6 |
% |
|
40,386 |
|
3.8 |
% |
|
13,562 |
|
33.6 |
% |
Effective tax rate |
|
|
16.1 |
% |
|
|
|
|
20.5 |
% |
|
|
|
|
|
4.4 |
% |
Net income |
|
$ |
140,229 |
|
|
13.7 |
% |
$ |
156,644 |
|
14.8 |
% |
$ |
(16,415) |
|
(10.5) |
% |
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|
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|
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Basic earnings per share |
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$ |
2.49 |
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$ |
2.75 |
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$ |
(0.26) |
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(9.5) |
% |
Diluted earnings per share |
|
$ |
2.47 |
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|
|
$ |
2.70 |
|
|
|
$ |
(0.23) |
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(8.5) |
% |
Weighted average shares (basic) |
|
|
56,309 |
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|
57,063 |
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Weighted average shares (diluted) |
|
|
56,818 |
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|
|
|
|
57,911 |
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Fav (Unfav) to |
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Twelve Months Ended December 31, |
|
Prior Year |
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|||||||||||
|
|
2024 |
|
% of Sales |
|
2023 |
|
% of Sales |
|
$ |
|
% |
|
|||
Net sales |
|
$ |
4,008,670 |
|
100.0 |
% |
$ |
4,191,636 |
|
100.0 |
% |
$ |
(182,966) |
|
(4.4) |
% |
Cost of goods sold |
|
|
2,535,758 |
|
63.3 |
% |
|
2,726,191 |
|
65.0 |
% |
|
190,433 |
|
7.0 |
% |
Gross profit |
|
|
1,472,912 |
|
36.7 |
% |
|
1,465,445 |
|
35.0 |
% |
|
7,467 |
|
0.5 |
% |
Selling, general & administrative expenses |
|
|
780,590 |
|
19.5 |
% |
|
758,910 |
|
18.1 |
% |
|
(21,680) |
|
(2.9) |
% |
Rationalization and asset impairment net charges |
|
|
55,860 |
|
1.4 |
% |
|
(11,314) |
|
(0.3) |
% |
|
(67,174) |
|
593.7 |
% |
Operating income |
|
|
636,462 |
|
15.9 |
% |
|
717,849 |
|
17.1 |
% |
|
(81,387) |
|
(11.3) |
% |
Interest expense, net |
|
|
42,786 |
|
1.1 |
% |
|
44,371 |
|
1.1 |
% |
|
1,585 |
|
3.6 |
% |
Other income |
|
|
473 |
|
0.0 |
% |
|
13,388 |
|
0.3 |
% |
|
(12,915) |
|
(96.5) |
% |
Income before income taxes |
|
|
594,149 |
|
14.8 |
% |
|
686,866 |
|
16.4 |
% |
|
(92,717) |
|
(13.5) |
% |
Income taxes |
|
|
128,041 |
|
3.2 |
% |
|
141,618 |
|
3.4 |
% |
|
13,577 |
|
9.6 |
% |
Effective tax rate |
|
|
21.6 |
% |
|
|
|
20.6 |
% |
|
|
|
|
|
(1.0) |
% |
Net income |
|
$ |
466,108 |
|
11.6 |
% |
$ |
545,248 |
|
13.0 |
% |
$ |
(79,140) |
|
(14.5) |
% |
|
|
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|
|
Basic earnings per share |
|
$ |
8.23 |
|
|
|
$ |
9.50 |
|
|
|
$ |
(1.27) |
|
(13.4) |
% |
Diluted earnings per share |
|
$ |
8.15 |
|
|
|
$ |
9.37 |
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|
|
$ |
(1.22) |
|
(13.0) |
% |
Weighted average shares (basic) |
|
|
56,639 |
|
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|
57,364 |
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Weighted average shares (diluted) |
|
|
57,194 |
|
|
|
|
58,221 |
|
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Lincoln Electric Holdings, Inc.
Financial Highlights
(In thousands)
(Unaudited)
Balance Sheet Highlights
|
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Selected Consolidated Balance Sheet Data |
|
December 31, 2024 |
|
December 31, 2023 |
|
||
Cash and cash equivalents |
|
$ |
377,262 |
|
$ |
393,787 |
|
Accounts receivable, net |
|
|
481,979 |
|
|
538,830 |
|
Inventories |
|
|
544,037 |
|
|
562,864 |
|
Total current assets |
|
|
1,645,281 |
|
|
1,693,111 |
|
Property, plant and equipment, net |
|
|
619,181 |
|
|
575,316 |
|
Total assets |
|
|
3,520,142 |
|
|
3,377,297 |
|
Trade accounts payable |
|
|
296,590 |
|
|
325,435 |
|
Total current liabilities (1) |
|
|
878,802 |
|
|
754,610 |
|
Long-term debt, less current portion |
|
|
1,150,551 |
|
|
1,102,771 |
|
Total equity |
|
|
1,327,433 |
|
|
1,308,852 |
|
|
|
|
|
|
|
|
|
Operating Working Capital |
|
December 31, 2024 |
|
December 31, 2023 |
|
||
Average operating working capital to Net sales (2) |
|
|
16.9 |
% |
|
17.1 |
% |
|
|
|
|
|
|
|
|
Invested Capital |
|
December 31, 2024 |
|
December 31, 2023 |
|
||
Short-term debt (1) |
|
$ |
110,524 |
|
$ |
2,439 |
|
Long-term debt, less current portion |
|
|
1,150,551 |
|
|
1,102,771 |
|
Total debt |
|
|
1,261,075 |
|
|
1,105,210 |
|
Total equity |
|
|
1,327,433 |
|
|
1,308,852 |
|
Invested capital |
|
$ |
2,588,508 |
|
$ |
2,414,062 |
|
|
|
|
|
|
|
|
|
Total debt / invested capital |
|
|
48.7 |
% |
|
45.8 |
% |
(1) |
Includes current portion of long-term debt. |
|
(2) |
Average operating working capital to Net sales is defined as the sum of Accounts receivable, Inventories and contract assets less Trade accounts payable and contract liabilities as of period end divided by annualized rolling three months of Net sales. |
Lincoln Electric Holdings, Inc.
Financial Highlights
(In thousands, except per share amounts)
(Unaudited)
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
|
Twelve Months Ended December 31, |
|
||||||||
|
|
2024 |
|
2023 |
|
|
2024 |
|
2023 |
|
||||
Operating income as reported |
|
$ |
177,017 |
|
$ |
204,031 |
|
|
$ |
636,462 |
|
$ |
717,849 |
|
Special items (pre-tax): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rationalization and asset impairment net charges (2) |
|
|
4,538 |
|
|
(21,932) |
|
|
|
55,860 |
|
|
(11,314) |
|
Acquisition transaction costs (3) |
|
|
2,491 |
|
|
— |
|
|
|
7,042 |
|
|
— |
|
Amortization of step up in value of acquired inventories (5) |
|
|
1,552 |
|
|
— |
|
|
|
5,026 |
|
|
12,252 |
|
Adjusted operating income (1) |
|
$ |
185,598 |
|
$ |
182,099 |
|
|
$ |
704,390 |
|
$ |
718,787 |
|
As a percent of total sales |
|
|
18.2 |
% |
|
17.2 |
% |
|
|
17.6 |
% |
|
17.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income as reported |
|
$ |
140,229 |
|
$ |
156,644 |
|
|
$ |
466,108 |
|
$ |
545,248 |
|
Special items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rationalization and asset impairment net charges (2) |
|
|
4,538 |
|
|
(21,932) |
|
|
|
55,860 |
|
|
(11,314) |
|
Acquisition transaction costs (3) |
|
|
2,491 |
|
|
— |
|
|
|
7,042 |
|
|
— |
|
Pension settlement net (gains) charges (4) |
|
|
(174) |
|
|
845 |
|
|
|
3,792 |
|
|
845 |
|
Amortization of step up in value of acquired inventories (5) |
|
|
1,552 |
|
|
— |
|
|
|
5,026 |
|
|
12,252 |
|
Loss (gain) on asset disposal (6) |
|
|
— |
|
|
— |
|
|
|
4,950 |
|
|
(1,646) |
|
Tax effect of Special items (7) |
|
|
(2,655) |
|
|
6,445 |
|
|
|
(11,513) |
|
|
2,537 |
|
Adjusted net income (1) |
|
|
145,981 |
|
|
142,002 |
|
|
|
531,265 |
|
|
547,922 |
|
Interest expense, net |
|
|
11,372 |
|
|
8,663 |
|
|
|
42,786 |
|
|
44,371 |
|
Income taxes as reported |
|
|
26,824 |
|
|
40,386 |
|
|
|
128,041 |
|
|
141,618 |
|
Tax effect of Special items (7) |
|
|
2,655 |
|
|
(6,445) |
|
|
|
11,513 |
|
|
(2,537) |
|
Adjusted EBIT (1) |
|
$ |
186,832 |
|
$ |
184,606 |
|
|
$ |
713,605 |
|
$ |
731,374 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax rate as reported |
|
|
16.1 |
% |
|
20.5 |
% |
|
|
21.6 |
% |
|
20.6 |
% |
Net special item tax impact |
|
|
0.7 |
% |
|
(1.2) |
% |
|
|
(0.8) |
% |
|
(0.4) |
% |
Adjusted effective tax rate (1) |
|
|
16.8 |
% |
|
19.3 |
% |
|
|
20.8 |
% |
|
20.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share as reported |
|
$ |
2.47 |
|
$ |
2.70 |
|
|
$ |
8.15 |
|
$ |
9.37 |
|
Special items per share |
|
|
0.10 |
|
|
(0.25) |
|
|
|
1.14 |
|
|
0.04 |
|
Adjusted diluted earnings per share (1) |
|
$ |
2.57 |
|
$ |
2.45 |
|
|
$ |
9.29 |
|
$ |
9.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares (diluted) |
|
|
56,818 |
|
|
57,911 |
|
|
|
57,194 |
|
|
58,221 |
|
(1) |
Adjusted operating income, adjusted net income, adjusted EBIT, adjusted effective tax rate and adjusted diluted EPS are non-GAAP financial measures. Refer to Non-GAAP Information section. |
|
(2) |
2024 charges primarily relate to rationalization plans initiated during the third quarter of 2024 in all three segments, as well as previously initiated plans and the disposition of the Company’s Russian entity in International Welding. 2023 net gains primarily relates the gain on sale of a property, partially offset by charges within International Welding. |
|
(3) |
Transaction costs related to acquisitions which are included in Selling, general & administrative expenses. |
|
(4) |
Pension settlement net (gains) charges primarily due to the final settlement associated with the termination of pension plans and are included in Other income. |
|
(5) |
Costs related to acquisitions which are included in Cost of goods sold. |
|
(6) |
Loss (gain) on asset disposal included in Other income. |
|
(7) |
Includes the net tax impact of Special items recorded during the respective periods. The tax effect of Special items impacting pre-tax income was calculated as the pre-tax amount multiplied by the applicable tax rate. The applicable tax rates reflect the taxable jurisdiction and nature of each Special item. |
Lincoln Electric Holdings, Inc.
Financial Highlights
(In thousands, except per share amounts)
(Unaudited)
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended December 31, |
|
||||
Return on Invested Capital |
|
2024 |
|
2023 |
|
||
Net income as reported |
|
$ |
466,108 |
|
$ |
545,248 |
|
Plus: Interest expense (after-tax) |
|
|
39,665 |
|
|
38,050 |
|
Less: Interest income (after-tax) |
|
|
7,593 |
|
|
5,033 |
|
Net operating profit after taxes |
|
$ |
498,180 |
|
$ |
578,265 |
|
Special items: |
|
|
|
|
|
|
|
Rationalization and asset impairment net charges |
|
|
55,860 |
|
|
(11,314) |
|
Acquisition transaction costs |
|
|
7,042 |
|
|
— |
|
Pension settlement net charges |
|
|
3,792 |
|
|
845 |
|
Amortization of step up in value of acquired inventories |
|
|
5,026 |
|
|
12,252 |
|
Loss (gain) on asset disposal |
|
|
4,950 |
|
|
(1,646) |
|
Tax effect of Special items (2) |
|
|
(11,513) |
|
|
2,537 |
|
Adjusted net operating profit after taxes (1) |
|
$ |
563,337 |
|
$ |
580,939 |
|
|
|
|
|
|
|
|
|
Invested Capital |
|
December 31, 2024 |
|
December 31, 2023 |
|
||
Short-term debt |
|
$ |
110,524 |
|
$ |
2,439 |
|
Long-term debt, less current portion |
|
|
1,150,551 |
|
|
1,102,771 |
|
Total debt |
|
|
1,261,075 |
|
|
1,105,210 |
|
Total equity |
|
|
1,327,433 |
|
|
1,308,852 |
|
Invested capital |
|
$ |
2,588,508 |
|
$ |
2,414,062 |
|
|
|
|
|
|
|
|
|
Return on invested capital as reported |
|
|
19.2 |
% |
|
24.0 |
% |
Adjusted return on invested capital (1) |
|
|
21.8 |
% |
|
24.1 |
% |
(1) |
Adjusted net operating profit after taxes and adjusted ROIC are non-GAAP financial measures. Refer to Non-GAAP Information section. |
|
(2) |
Includes the net tax impact of Special items recorded during the respective periods. The tax effect of Special items impacting pre-tax income was calculated as the pre-tax amount multiplied by the applicable tax rate. The applicable tax rates reflect the taxable jurisdiction and nature of each Special item. |
Lincoln Electric Holdings, Inc.
Financial Highlights
(In thousands, except per share amounts)
(Unaudited)
Condensed Consolidated Statements of Cash Flows
|
|
|
|
|
|
|
Three Months Ended December 31, |
||||
|
2024 |
|
2023 |
||
OPERATING ACTIVITIES: |
|
|
|
|
|
Net income |
$ |
140,229 |
|
$ |
156,644 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |
|
|
|
|
|
Rationalization and asset impairment net charges |
|
(5,032) |
|
|
3,651 |
Depreciation and amortization |
|
23,143 |
|
|
21,969 |
Gain on sale of property |
|
— |
|
|
(36,187) |
Pension settlement (gains) charges |
|
(174) |
|
|
845 |
Other non-cash items, net |
|
(32,540) |
|
|
(34,431) |
Changes in operating assets and liabilities, net of effects from acquisitions: |
|
|
|
|
|
Decrease in accounts receivable |
|
16,663 |
|
|
8,285 |
Decrease in inventories |
|
47,051 |
|
|
64,313 |
Net change in other current assets |
|
(21,647) |
|
|
(20,879) |
Decrease in trade accounts payable |
|
(20,301) |
|
|
(7,356) |
Net change in other current liabilities |
|
(34,607) |
|
|
(47,919) |
Net change in other long-term assets and liabilities |
|
(16,990) |
|
|
12,727 |
NET CASH PROVIDED BY OPERATING ACTIVITIES |
|
95,795 |
|
|
121,662 |
|
|
|
|
|
|
INVESTING ACTIVITIES: |
|
|
|
|
|
Capital expenditures |
|
(31,486) |
|
|
(24,528) |
Proceeds from sale of property, plant and equipment |
|
5,292 |
|
|
44,898 |
Other investing activities |
|
320 |
|
|
6,010 |
NET CASH (USED BY) PROVIDED BY INVESTING ACTIVITIES |
|
(25,874) |
|
|
26,380 |
|
|
|
|
|
|
FINANCING ACTIVITIES: |
|
|
|
|
|
Proceeds from (payments on) short-term borrowings |
|
2,928 |
|
|
(5,057) |
Payments on long-term borrowings |
|
(169) |
|
|
(112) |
Proceeds from exercise of stock options |
|
1,524 |
|
|
9,068 |
Purchase of shares for treasury |
|
(52,539) |
|
|
(68,176) |
Cash dividends paid to shareholders |
|
(40,164) |
|
|
(36,733) |
Other financing activities |
|
(3,922) |
|
|
— |
NET USED BY USED BY FINANCING ACTIVITIES |
|
(92,342) |
|
|
(101,010) |
|
|
|
|
|
|
Effect of exchange rate changes on Cash and cash equivalents |
|
(4,535) |
|
|
4,088 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |
|
(26,956) |
|
|
51,120 |
Cash and cash equivalents at beginning of period |
|
404,218 |
|
|
342,667 |
Cash and cash equivalents at end of period |
$ |
377,262 |
|
$ |
393,787 |
|
|
|
|
|
|
Cash dividends paid per share |
$ |
0.71 |
|
$ |
0.64 |
Lincoln Electric Holdings, Inc.
Financial Highlights
(In thousands, except per share amounts)
(Unaudited)
Condensed Consolidated Statements of Cash Flows
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
||||
|
|
2024 |
|
2023 |
||
OPERATING ACTIVITIES: |
|
|
|
|
|
|
Net income |
|
$ |
466,108 |
|
$ |
545,248 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |
|
|
|
|
|
|
Rationalization and asset impairment net charges |
|
|
20,887 |
|
|
4,779 |
Depreciation and amortization |
|
|
88,238 |
|
|
86,670 |
Gain on sale of property |
|
|
— |
|
|
(36,187) |
Pension settlement charges |
|
|
3,792 |
|
|
845 |
Other non-cash items, net |
|
|
(23,056) |
|
|
(13,004) |
Changes in operating assets and liabilities, net of effects from acquisitions: |
|
|
|
|
|
|
Decrease in accounts receivable |
|
|
52,829 |
|
|
14,980 |
Decrease in inventories |
|
|
25,355 |
|
|
122,094 |
Net change in other current assets |
|
|
(41,558) |
|
|
(35,608) |
Decrease in trade accounts payable |
|
|
(27,189) |
|
|
(32,028) |
Net change in other current liabilities |
|
|
32,703 |
|
|
10,056 |
Net change in other long-term assets and liabilities |
|
|
868 |
|
|
(303) |
NET CASH PROVIDED BY OPERATING ACTIVITIES |
|
|
598,977 |
|
|
667,542 |
|
|
|
|
|
|
|
INVESTING ACTIVITIES: |
|
|
|
|
|
|
Capital expenditures |
|
|
(116,603) |
|
|
(90,987) |
Acquisition of businesses, net of cash acquired |
|
|
(252,746) |
|
|
(32,685) |
Proceeds from sale of property, plant and equipment |
|
|
7,798 |
|
|
49,494 |
Other investing activities |
|
|
320 |
|
|
(551) |
NET CASH USED BY INVESTING ACTIVITIES |
|
|
(361,231) |
|
|
(74,729) |
|
|
|
|
|
|
|
FINANCING ACTIVITIES: |
|
|
|
|
|
|
Proceeds from (payments on) short-term borrowings |
|
|
8,449 |
|
|
(79,873) |
Proceeds from long-term borrowings |
|
|
550,000 |
|
|
— |
Payments on long-term borrowings |
|
|
(400,677) |
|
|
(8,109) |
Proceeds from exercise of stock options |
|
|
27,404 |
|
|
22,365 |
Purchase of shares for treasury |
|
|
(263,751) |
|
|
(198,765) |
Cash dividends paid to shareholders |
|
|
(162,143) |
|
|
(148,010) |
Other financing activities |
|
|
(3,922) |
|
|
— |
NET CASH USED BY FINANCING ACTIVITIES |
|
|
(244,640) |
|
|
(412,392) |
|
|
|
|
|
|
|
Effect of exchange rate changes on Cash and cash equivalents |
|
|
(9,631) |
|
|
16,216 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |
|
|
(16,525) |
|
|
196,637 |
Cash and cash equivalents at beginning of period |
|
|
393,787 |
|
|
197,150 |
Cash and cash equivalents at end of period |
|
$ |
377,262 |
|
$ |
393,787 |
|
|
|
|
|
|
|
Cash dividends paid per share |
|
$ |
2.84 |
|
$ |
2.56 |
Lincoln Electric Holdings, Inc.
Segment Highlights (1)
(In thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International |
|
The Harris |
|
Corporate / |
|
|
|
|
||||
|
|
Welding |
|
Welding |
|
Products Group |
|
Eliminations |
|
Consolidated |
|
|||||
Three months ended December 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
654,786 |
|
$ |
242,979 |
|
$ |
124,266 |
|
$ |
— |
|
$ |
1,022,031 |
|
Inter-segment sales |
|
|
37,134 |
|
|
11,233 |
|
|
2,801 |
|
|
(51,168) |
|
|
— |
|
Total sales |
|
$ |
691,920 |
|
$ |
254,212 |
|
$ |
127,067 |
|
$ |
(51,168) |
|
$ |
1,022,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
140,229 |
|
As a percent of total sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBIT (1) |
|
$ |
127,813 |
|
$ |
32,013 |
|
$ |
20,278 |
|
$ |
(1,679) |
|
$ |
178,425 |
|
As a percent of total sales |
|
|
18.5 |
% |
|
12.6 |
% |
|
16.0 |
% |
|
|
|
|
17.5 |
% |
Special items charges (3) |
|
|
4,110 |
|
|
517 |
|
|
1,289 |
|
|
2,491 |
|
|
8,407 |
|
Adjusted EBIT (2) |
|
$ |
131,923 |
|
$ |
32,530 |
|
$ |
21,567 |
|
$ |
812 |
|
$ |
186,832 |
|
As a percent of total sales |
|
|
19.1 |
% |
|
12.8 |
% |
|
17.0 |
% |
|
|
|
|
18.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Net sales |
|
$ |
654,707 |
|
$ |
292,177 |
|
$ |
111,630 |
|
$ |
— |
|
$ |
1,058,514 |
|
Inter-segment sales |
|
|
35,493 |
|
|
11,557 |
|
|
2,578 |
|
|
(49,628) |
|
|
— |
|
Total sales |
|
$ |
690,200 |
|
$ |
303,734 |
|
$ |
114,208 |
|
$ |
(49,628) |
|
$ |
1,058,514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
156,644 |
|
As a percent of total sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBIT (1) |
|
$ |
129,409 |
|
$ |
64,035 |
|
$ |
15,246 |
|
$ |
(2,997) |
|
$ |
205,693 |
|
As a percent of total sales |
|
|
18.7 |
% |
|
21.1 |
% |
|
13.3 |
% |
|
|
|
|
19.4 |
% |
Special items charges (gains) (4) |
|
|
60 |
|
|
(21,147) |
|
|
— |
|
|
— |
|
|
(21,087) |
|
Adjusted EBIT (2) |
|
$ |
129,469 |
|
$ |
42,888 |
|
$ |
15,246 |
|
$ |
(2,997) |
|
$ |
184,606 |
|
As a percent of total sales |
|
|
18.8 |
% |
|
14.1 |
% |
|
13.3 |
% |
|
|
|
|
17.4 |
% |
(1) |
EBIT is defined as Operating income plus Other income. |
|
(2) |
The primary profit measure used by management to assess segment performance is adjusted EBIT. EBIT for each operating segment is adjusted for special items to derive adjusted EBIT. |
|
(3) |
Special items in 2024 primarily reflect Rationalization and asset impairments net charges of |
|
(4) |
Special items in 2023 primarily reflect a net gain of |
Lincoln Electric Holdings, Inc.
Segment Highlights
(In thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International |
|
The Harris |
|
Corporate / |
|
|
|
|
||||
|
|
Welding |
|
Welding |
|
Products Group |
|
Eliminations |
|
Consolidated |
|
|||||
Year ended December 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
2,564,847 |
|
$ |
933,722 |
|
$ |
510,101 |
|
$ |
— |
|
$ |
4,008,670 |
|
Inter-segment sales |
|
|
135,758 |
|
|
35,861 |
|
|
12,321 |
|
|
(183,940) |
|
|
— |
|
Total sales |
|
$ |
2,700,605 |
|
$ |
969,583 |
|
$ |
522,422 |
|
$ |
(183,940) |
|
$ |
4,008,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
466,108 |
|
As a percent of total sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBIT (1) |
|
$ |
502,367 |
|
$ |
68,370 |
|
$ |
84,373 |
|
$ |
(18,175) |
|
$ |
636,935 |
|
As a percent of total sales |
|
|
18.6 |
% |
|
7.1 |
% |
|
16.2 |
% |
|
|
|
|
15.9 |
% |
Special items charges (3) |
|
|
27,821 |
|
|
37,747 |
|
|
3,955 |
|
|
7,147 |
|
|
76,670 |
|
Adjusted EBIT (2) |
|
$ |
530,188 |
|
$ |
106,117 |
|
$ |
88,328 |
|
$ |
(11,028) |
|
$ |
713,605 |
|
As a percent of total sales |
|
|
19.6 |
% |
|
10.9 |
% |
|
16.9 |
% |
|
|
|
|
17.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
2,655,546 |
|
$ |
1,040,006 |
|
$ |
496,084 |
|
$ |
— |
|
$ |
4,191,636 |
|
Inter-segment sales |
|
|
127,536 |
|
|
31,498 |
|
|
10,641 |
|
|
(169,675) |
|
|
— |
|
Total sales |
|
$ |
2,783,082 |
|
$ |
1,071,504 |
|
$ |
506,725 |
|
$ |
(169,675) |
|
$ |
4,191,636 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
545,248 |
|
As a percent of total sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBIT (1) |
|
$ |
528,411 |
|
$ |
146,218 |
|
$ |
74,144 |
|
$ |
(17,536) |
|
$ |
731,237 |
|
As a percent of total sales |
|
|
19.0 |
% |
|
13.6 |
% |
|
14.6 |
% |
|
|
|
|
17.4 |
% |
Special items charges (gain) (4) |
|
|
9,858 |
|
|
(9,721) |
|
|
— |
|
|
|
|
|
137 |
|
Adjusted EBIT (2) |
|
$ |
538,269 |
|
$ |
136,497 |
|
$ |
74,144 |
|
$ |
(17,536) |
|
$ |
731,374 |
|
As a percent of total sales |
|
|
19.3 |
% |
|
12.7 |
% |
|
14.6 |
% |
|
|
|
|
17.4 |
% |
(1) |
EBIT is defined as Operating income plus Other income. |
|
(2) |
The primary profit measure used by management to assess segment performance is adjusted EBIT. EBIT for each operating segment is adjusted for special items to derive adjusted EBIT. |
|
(3) |
Special items in 2024 primarily reflect rationalization net charges of |
|
(4) |
Special items in 2023 primarily reflect amortization of step up in value of acquired inventories of |
Lincoln Electric Holdings, Inc.
Change in Net Sales by Segment
(In thousands)
(Unaudited)
Three Months Ended December 31st Change in Net Sales by Segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in Net Sales due to: |
|
|
|
|
||||||||||
|
Net Sales |
|
|
|
|
|
|
|
|
|
|
Foreign |
|
Net Sales |
|
|||
|
2023 |
|
Volume |
|
Acquisitions |
|
Price |
|
Exchange |
|
2024 |
|
||||||
Operating Segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Welding |
$ |
654,707 |
|
$ |
(46,844) |
|
$ |
54,301 |
|
$ |
(541) |
|
$ |
(6,837) |
|
$ |
654,786 |
|
International Welding |
|
292,177 |
|
|
(45,930) |
|
|
539 |
|
|
95 |
|
|
(3,902) |
|
|
242,979 |
|
The Harris Products Group |
|
111,630 |
|
|
3,057 |
|
|
— |
|
|
10,972 |
|
|
(1,393) |
|
|
124,266 |
|
Consolidated |
$ |
1,058,514 |
|
$ |
(89,717) |
|
$ |
54,840 |
|
$ |
10,526 |
|
$ |
(12,132) |
|
$ |
1,022,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Welding |
|
|
|
|
(7.2) |
% |
|
8.3 |
% |
|
(0.1) |
% |
|
(1.0) |
% |
|
0.0 |
% |
International Welding |
|
|
|
|
(15.7) |
% |
|
0.2 |
% |
|
0.0 |
% |
|
(1.3) |
% |
|
(16.8) |
% |
The Harris Products Group |
|
|
|
|
2.7 |
% |
|
— |
|
|
9.8 |
% |
|
(1.2) |
% |
|
11.3 |
% |
Consolidated |
|
|
|
|
(8.5) |
% |
|
5.2 |
% |
|
1.0 |
% |
|
(1.1) |
% |
|
(3.4) |
% |
Twelve Months Ended December 31st Change in Net Sales by Segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in Net Sales due to: |
|
|
|
|
||||||||||
|
|
Net Sales |
|
|
|
|
|
|
|
|
|
|
Foreign |
|
Net Sales |
|
|||
|
|
2023 |
|
Volume |
|
Acquisitions |
|
Price |
|
Exchange |
|
2024 |
|
||||||
Operating Segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Welding |
|
$ |
2,655,546 |
|
$ |
(192,454) |
|
$ |
101,097 |
|
$ |
10,770 |
|
$ |
(10,112) |
|
$ |
2,564,847 |
|
International Welding |
|
|
1,040,006 |
|
|
(96,658) |
|
|
1,660 |
|
|
(8,413) |
|
|
(2,873) |
|
|
933,722 |
|
The Harris Products Group |
|
|
496,084 |
|
|
(12,049) |
|
|
— |
|
|
28,041 |
|
|
(1,975) |
|
|
510,101 |
|
Consolidated |
|
$ |
4,191,636 |
|
$ |
(301,161) |
|
$ |
102,757 |
|
$ |
30,398 |
|
$ |
(14,960) |
|
$ |
4,008,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Welding |
|
|
|
|
|
(7.2) |
% |
|
3.8 |
% |
|
0.4 |
% |
|
(0.4) |
% |
|
(3.4) |
% |
International Welding |
|
|
|
|
|
(9.3) |
% |
|
0.2 |
% |
|
(0.8) |
% |
|
(0.3) |
% |
|
(10.2) |
% |
The Harris Products Group |
|
|
|
|
|
(2.4) |
% |
|
— |
|
|
5.7 |
% |
|
(0.4) |
% |
|
2.8 |
% |
Consolidated |
|
|
|
|
|
(7.2) |
% |
|
2.5 |
% |
|
0.7 |
% |
|
(0.4) |
% |
|
(4.4) |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213569191/en/
Amanda Butler
Vice President, Investor Relations & Communications
Tel: 216.383.2534
Email: Amanda_Butler@lincolnelectric.com
Source: Lincoln Electric Holdings, Inc.
FAQ
What were Lincoln Electric's (LECO) Q4 2024 earnings per share?
How much did Lincoln Electric's (LECO) sales decline in Q4 2024?
How much cash did Lincoln Electric (LECO) return to shareholders in 2024?
What was Lincoln Electric's (LECO) operating margin in Q4 2024?
How much cash flow from operations did Lincoln Electric (LECO) generate in 2024?
