Welcome to our dedicated page for Lincoln Electric Holdings news (Ticker: LECO), a resource for investors and traders seeking the latest updates and insights on Lincoln Electric Holdings stock.
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 the release of its second quarter 2021 results, scheduled for July 27, 2021, prior to market opening. An investor webcast will follow at 10:00 a.m. (ET) on the same day. Interested participants can access the earnings call via the Company's Investor Relations website, where a replay will also be available. Lincoln Electric, a leader in arc welding products and cutting systems, operates across 55 manufacturing locations in 18 countries, supporting a vast global distribution network.
Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced its participation in two upcoming virtual financial events in June 2021. The KeyBanc Virtual Industrials & Basic Materials Conference will feature Chairman and CEO Christopher L. Mapes on June 3, while the Stifel 2021 Virtual Cross Sector Insight Conference on June 9 will include Executive Vice President and CFO Gabriel Bruno. The latter's presentation will be webcast and accessible via the company's Investor Relations website, where a replay will also be available. Lincoln Electric is a global leader in arc welding and cutting systems.
Lincoln Electric (Nasdaq: LECO) has announced that Gabriel Bruno, Executive Vice President and Chief Financial Officer, will speak at the Oppenheimer 16th Annual Industrial Growth Conference on May 5, 2021, at 10:30 AM ET. The event will be conducted virtually and can be accessed via their Investor Relations website. A replay will also be available on the same platform.
Lincoln Electric is a global leader in arc welding products and cutting systems, with 55 manufacturing locations across 18 countries and a presence in over 160 countries.
Lincoln Electric (Nasdaq: LECO) reported strong first quarter 2021 results, achieving net sales of $757.0 million, a 7.8% increase driven by 6.4% organic sales growth. Operating income margin improved to 13.7%, with adjusted operating income margin at 14.4%. Net income rose 33.5% to $74.2 million or $1.23 EPS, while adjusted EPS increased 37% to $1.37. The company cited effective strategic execution and cost management as key factors in achieving record earnings amidst market recovery.
Gregory Doria has been appointed as Senior Vice President and President of The Harris Products Group, effective October 1, 2021, following the retirement of David J. Nangle. Doria, who has been with Lincoln Electric since 2000, previously held positions in sales and marketing, including Vice President of Marketing. Nangle's tenure was marked by record sales and profitability growth, with significant achievements in operational excellence. The leadership transition aims to enhance HPG's strategic initiatives and capitalize on future growth opportunities.
Lincoln Electric Holdings, Inc. (Nasdaq: LECO) declared a quarterly cash dividend of $0.51 per common share. This dividend will be payable on July 15, 2021, to shareholders on record as of June 30, 2021. Lincoln Electric is a global leader in welding and cutting solutions, operating 55 manufacturing locations across 18 countries with a distribution network in over 160 countries.
Lincoln Electric Holdings (Nasdaq: LECO) announced the promotion of Lisa Shapiro to Vice President, Corporate Controller, effective April 13, 2021. In her new role, Shapiro will oversee global accounting, financial reporting, and tax compliance, reporting to CFO Gabriel Bruno. Shapiro, who joined Lincoln Electric in 2016, previously served as Director of Financial Reporting. Her experience at PricewaterhouseCoopers and her qualifications as a CPA position her to support the company's Higher Standard 2025 strategic initiatives.
Lincoln Electric Holdings, Inc. (LECO) announced it will release its first quarter 2021 results on April 27, 2021, prior to market open. An investor webcast will occur at 10:00 a.m. (ET) on the same day. The earnings call will be available in listen-only mode on the Company's Investor Relations website. For investors seeking to ask questions, a phone line will be available for dial-in participants. A replay of the earnings call will also be accessible afterwards. Lincoln Electric is a leader in welding and cutting equipment globally, with a presence in 18 countries.
Lincoln Electric (Nasdaq: LECO) has acquired Zeman Bauelemente, a top designer and manufacturer of robotic assembly and welding systems based in Austria. This acquisition enhances Lincoln's automation sales by approximately 10% and strengthens its international capabilities. Zeman's systems, known as Steel Beam Assembler (SBA), will integrate with Lincoln's PythonX solutions, boosting productivity for structural steel fabricators. The terms of the acquisition were not disclosed. This move aligns with Lincoln's Higher Standard 2025 Strategy, targeting growth in structural steel and infrastructure sectors.
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