Lincoln Electric Posts $2.98 Q3 Adjusted EPS
LECO sits 20% above its 52-week low of $216.22.
Summary
Lincoln Electric reported third-quarter adjusted EPS of $2.98, while reported third-quarter EPS came in at $2.63. Net sales rose 15.1% to $1,221.3 million, operating margin was 17.3% (adjusted 18.0%), and the company returned $143 million to shareholders. That follows a strong second quarter, when sales rose 12% to $1.22 billion and adjusted EPS came in at $2.93, both ahead of consensus. The profit figure shows whether the momentum from Q2 carried into the fall, and the sales and margin numbers now fill in more of the picture. Management commentary may add further detail.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Lincoln Electric's Q3 net sales rose 15.1% to $1,221.3 million, operating margin was 17.3% (adjusted 18.0%), and it returned $143 million to shareholders.
At the time of this announcement, LECO was trading at $258.65 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $14.1B. The 52-week trading range was $216.22 to $310.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.