Lincoln Electric Q3 Results Top Estimates; Boosts Dividend 14.3%
(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) reported Tuesday that net income for the third quarter soared to $109.23 million or $1.87 per share from $31.76 million or $0.53 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $119.57 million or $2.04 per share, compared to $93.75 million or $1.56 per share in the year-ago quarter.
On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $1.95 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 16 percent to a record of $935.24 million from $806.45 million in the same quarter last year. Organic sales grew 21 percent. Analysts expected revenues of $910.93 million.
Further, the company's Board of Directors declared a 14.3 percent higher quarterly cash dividend of $0.64 per share, payable on January 14, 2023 to shareholders of record as of December 31, 2022.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Lincoln Electric Promotes COO Steven Hedlund To Succeed Christopher Mapes As President And CEO
Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus
Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus
Pound Slides Against Majors
FTSE 100 Weak Again, Looks Headed For Weekly Loss
Pound Falls Against Majors
French Stocks Mostly Subdued In Cautious Trade
