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Lincoln Electric Holdings Inc. (LECO) is a global leader in the design, development, and manufacture of arc welding products, robotic welding systems, plasma and oxy-fuel cutting equipment, and brazing and soldering alloys. Headquartered in Cleveland, Ohio, Lincoln Electric boasts a vast network of manufacturing, distribution, sales, and technical support, covering more than 160 countries worldwide. With operations in 19 countries and a workforce of 11,000 employees, the company generated approximately $4.2 billion in sales in 2023.
Lincoln Electric serves a wide array of industries including general fabrication, heavy industries, automotive, construction, shipbuilding, energy, and process industries. The company's product portfolio includes advanced arc-welding solutions, cutting-edge plasma and oxy-fuel cutting systems, and a comprehensive range of brazing and soldering alloys. Additionally, Lincoln Electric is known for its automation solutions which enhance productivity and efficiency.
One of the company's recent notable achievements is the introduction of the Velion™ DC Fast Charger for Electric Vehicles. This Level 3 DC fast charger platform provides unparalleled charging speeds and reliability. The Velion™ is designed with industrial-grade components and leverages more than a century of Lincoln Electric’s expertise in designing and manufacturing high-quality industrial equipment. The charger meets and exceeds the requirements of the federal government's National Electric Vehicle Infrastructure Formula Program (NEVI), offering exceptional performance with an efficiency of 95% and the capability to operate in a wide temperature range.
Financially, Lincoln Electric has shown robust performance. In the fourth quarter of 2023, the company reported a net income of $156.6 million, and earnings per share (EPS) of $2.70. The company's sales increased by 13.7% to $1.1 billion, reflecting strong demand and effective execution of their strategic initiatives. For the full year of 2023, the net income was $545.2 million with a sales increase of 11.4% to $4.2 billion. The company continues to focus on advancements in engineering, materials science, software development, and automation to drive operational excellence.
For more detailed information about Lincoln Electric and its innovative products and services, please visit the company's website at http://www.lincolnelectric.com
Lincoln Electric Holdings (Nasdaq: LECO) announced that Christopher L. Mapes, Chairman and CEO, will present at Baird’s 2021 Global Industrial Conference.
The event will be held virtually on November 10, 2021, at 8:30 a.m. ET. The presentation will be available via webcast on the Investor Relations website. A replay will also be accessible later.
Lincoln Electric is a global leader in the design and manufacture of welding and cutting products, with operations in 18 countries and coverage in over 160 countries.
Lincoln Electric Holdings (LECO) reported a 20.6% increase in net sales for Q3 2021, reaching a record $806.5 million, driven by an 18.3% rise in organic sales. Operating income margin improved to 14.3%, while adjusted EPS climbed 41.8% to $1.56. Net income, however, decreased by 45.4% to $31.8 million, reflecting a $73.6 million pension termination charge. Cash flow from operations rose 23% to $109.9 million. The company declared a 9.8% increase in its quarterly dividend to $0.56 per share, payable on January 14, 2022.
Lincoln Electric Holdings, Inc. (LECO) has announced a 9.8% increase in its quarterly cash dividend from $0.51 per share to $0.56 per share, totaling $2.24 on an annualized basis. This marks the 26th consecutive annual increase in dividends, reflecting the company's strong cash flow generation. The dividend is payable on January 14, 2022 for shareholders of record by December 31, 2021. CEO Christopher L. Mapes emphasizes confidence in their 2025 Higher Standard Strategy.
Lincoln Electric Holdings, Inc. (Nasdaq: LECO) will announce its third quarter 2021 results on October 28, 2021, before market open. An investor webcast is scheduled for 10:00 a.m. (ET) on the same day. Interested investors can participate in the call by dialing (877) 344-3899 domestically or (315) 625-3087 internationally. The conference call will also be available for replay on the company's investor relations website.
Lincoln Electric is a global leader in arc welding products and operates 55 manufacturing locations in 18 countries.
Lincoln Electric Holdings, listed on Nasdaq under LECO, will have its CFO, Gabriel Bruno, present at the Morgan Stanley 9th Annual Laguna Conference on September 15, 2021, at 1:30 PM ET. This virtual event will be accessible via webcast on the company's Investor Relations website, with a replay available afterward. Lincoln Electric is a global leader in welding products and cutting systems, operating 55 manufacturing locations in 18 countries.
Universal Technical Institute (UTI) is expanding its Welding Technology Training Program to the NASCAR Technical Institute in Mooresville, N.C., marking the eighth rollout of this program across its campuses. Set to start in January 2022, the 36-week course addresses the high demand for welders in various industries, including automotive and aerospace. UTI anticipates strong enrollment driven by local employer needs, particularly noted by LA West, Inc., seeking skilled welders. The program is developed in collaboration with Lincoln Electric (LECO), a leader in the welding sector.
Lincoln Electric Holdings (Nasdaq: LECO) has acquired Overstreet-Hughes Company, Inc. and Shoals Tubular, Inc., manufacturers specializing in copper and aluminum HVAC components, with combined annual sales of approximately $50 million. This acquisition is part of The Harris Products Group’s strategy to enhance its HVAC offerings and position itself for growth in this sector. The integration aims to provide HVAC OEMs with a more comprehensive range of solutions, supporting the company's Higher Standard 2025 Strategy.
Lincoln Electric reported a 39.9% increase in net sales for Q2 2021, totaling $826.5 million, driven by a 36.0% rise in organic sales. Operating income surged to $121.8 million, with a margin of 14.7%. EPS rose by 255.6% to $1.60, and adjusted EPS increased 108.8% to $1.67. Cash flow from operations reached $100 million, while ROIC improved to 21.4%. For the first six months, net income was $170.3 million or $2.83 EPS, reflecting a substantial year-over-year growth.
Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced its participation in several upcoming financial events throughout August 2021. Key events include the Jefferies Virtual Industrials Conference on August 4, Northcoast Research 2021 Industrial and Business Services Conference on August 9, and the Seaport Global Annual Virtual Summer Investor Conference on August 25. All presentations will feature Gabriel Bruno, EVP and CFO, and will be accessible via the company's Investor Relations website, where replays will also be available.
On July 21, 2021, Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced a quarterly cash dividend of $0.51 per common share, payable on October 15, 2021 to shareholders recorded as of September 30, 2021. Known as a leader in arc welding products, Lincoln Electric operates 55 manufacturing sites across 18 countries and serves a global network of markets in over 160 countries. The dividend reflects the company's ongoing commitment to returning value to shareholders.
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