Company Reports

Lincoln Electric manufactures welding, cutting, and brazing products, claiming leading market share globally. Alongside Illinois Tool Works and ESAB, Lincoln Electric is one of the top three players offering a complete welding solutions package, including equipment and consumables, which we think differentiates it from smaller competitors.

Lincoln Electric's second-quarter adjusted EPS of $2.93 beat the FactSet consensus estimate by $0.12, as organic sales came in above expectations thanks to strong growth in the Americas and Asia Pacific.

Lincoln Electric's first-quarter adjusted earnings per share increased by 16% from the prior-year period to $2.50, beating the FactSet consensus estimate by $0.07. Management now expects full-year net sales growth in the high-single digits, up from midsingle digits previously.

Lincoln Electric manufactures welding, cutting, and brazing products, claiming leading market share globally. Alongside Illinois Tool Works and ESAB, Lincoln Electric is one of the top three players offering a complete welding solutions package, including equipment and consumables, which we think differentiates it from smaller competitors.

Lincoln Electric manufactures welding, cutting, and brazing products, claiming leading market share globally. Alongside Illinois Tool Works and ESAB, Lincoln Electric is one of the top three players offering a complete welding solutions package, including equipment and consumables, which we think differentiates it from smaller competitors.

Lincoln Electric ended 2025 on a solid note, as its fourth-quarter adjusted EPS of $2.65 beat the FactSet consensus estimate by $0.11. For full-year 2026, management expects net sales growth in the midsingle digits, with equal contribution from volume and price.

Lincoln Electric increased its third-quarter organic sales by 5.6% from the prior-year period, on 7.8% higher pricing and 2.2% lower volumes. Management maintained its full-year organic sales growth and adjusted operating margin outlook.

Lincoln Electric manufactures welding, cutting, and brazing products, claiming leading market share globally. Alongside Illinois Tool Works and ESAB, Lincoln Electric is one of the top three players offering a complete welding solutions package, including equipment and consumables, which we think differentiates it from smaller competitors.

Lincoln Electric's second-quarter organic sales grew 3% year over year, driven by a 5% increase in price, partially offset by a 2% decrease in volume. Consumables sales were up by a high-single-digit percentage, compared with equipment down midsingle digits and automation down low single digits.

Lincoln Electric manufactures welding, cutting, and brazing products, claiming leading market share globally. Alongside Illinois Tool Works and ESAB, Lincoln Electric is one of the top three players offering a complete welding solutions package, including equipment and consumables, which we think differentiates it from smaller competitors.

Narrow-moat Lincoln Electric’s first-quarter organic sales slumped 1.2% from the prior-year period, driven by a mid-single-digit decline in equipment, while consumables and automation remained relatively stable. We’ve trimmed our fair value estimate to $192 from $197, as our more conservative near-term revenue growth and operating margin projections were partially offset by time value of money.

Lincoln Electric is a manufacturer of welding, cutting, and brazing products, claiming leading market share globally. Alongside rivals ITW and ESAB, Lincoln Electric is one of the top three players offering a complete welding-solutions package, including equipment and consumables, which we think differentiates the firm from smaller competitors.

Narrow-moat-rated Lincoln Electric’s shares climbed by around 12% in intraday trading on Feb. 13 after the company smashed fourth-quarter expectations, as its adjusted EPS of $2.57 beat the FactSet consensus estimate by $0.58. After rolling our model forward one year, we’ve raised our fair value estimate to $197 from $182, primarily driven by our more optimistic operating margin expectations.

Lincoln Electric is a manufacturer of welding, cutting, and brazing products, claiming leading market share globally. Alongside rivals ITW and ESAB, Lincoln Electric is one of the top three players offering a complete welding-solutions package, including equipment and consumables, which we think differentiates the firm from smaller competitors.

Narrow-moat-rated Lincoln Electric’s third-quarter adjusted EPS decreased by 11% from the prior-year period to $2.14 amid continued headwinds from lower industrial production and slower capital spending in the automotive sector. We’ve lowered our fair value estimate to $182 from $184, which reflects our slightly more muted near-term revenue growth projections.

Lincoln Electric is a manufacturer of welding, cutting, and brazing products, claiming leading market share globally. Alongside rivals ITW and ESAB, Lincoln Electric is one of the top three players offering a complete welding-solutions package, including equipment and consumables, which we think differentiates the firm from smaller competitors.

Narrow-moat-rated Lincoln Electric’s second-quarter adjusted EPS decreased by 4% year over year, from $2.44 to $2.34, as the firm faced macroeconomic headwinds and slower capital spending in the automotive sector. While we’ve left our long-term forecast largely unchanged, we’ve slightly raised our fair value estimate to $184 per share from $182 due to time value of money. We see Lincoln Electric as modestly overvalued at current levels, and we’d prefer to wait for a more attractive entry point, especially since a challenging macroeconomic environment could weigh on near-term revenue growth.

Lincoln Electric is a manufacturer of welding, cutting, and brazing products, claiming leading market share globally. Alongside rivals ITW and ESAB, Lincoln Electric is one of the top three players offering a complete welding-solutions package, including equipment and consumables, which we think differentiates the firm from smaller competitors.

Lincoln Electric is a manufacturer of welding, cutting, and brazing products, claiming leading market share globally. Alongside rivals ITW and ESAB, Lincoln Electric is one of the top three players offering a complete welding-solutions package, including equipment and consumables, which we think differentiates the firm from smaller competitors.

Narrow-moat-rated Lincoln Electric reported mixed first-quarter results, as its revenue of $981 million fell $60 million short of the FactSet consensus estimate, but adjusted EPS of $2.23 beat the consensus by $0.06 thanks to strong margins in Americas welding and the Harris Products Group. We’ve trimmed our fair value estimate to $187 from $190, which reflects our slightly more conservative near-term organic revenue growth projections, partially offset by time value of money. We view the name as modestly overvalued at current levels.