LECO - Lincoln Electric Holdings Inc.

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Lincoln Electric Holdings, Inc., through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products in the United States, China, and Internationally. The company's welding products comprise arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes, and welding accessories. It also offers computer numeric controlled plasma and oxy-fuel cutting systems, and regulators and torches used in oxy-fuel welding, cutting, and brazing; and consumables used in the brazing and soldering alloys market. The company serves general metal fabrication, power generation and process industry, structural steel construction, heavy equipment fabrication, shipbuilding, automotive, pipe mills and pipelines, and offshore oil and gas exploration and extraction markets. It sells its products directly to users of welding products, as well as through industrial distributors, retailers, and agents. The company was founded in 1895 and is headquartered in Cleveland, Ohio.

 

Lincoln Electric tops 3Q profit forecasts
CLEVELAND (AP) _ Lincoln Electric Holdings Inc. (LECO) on Friday reported third-quarter net income of $60 million, after reporting a loss in the same period a year earlier.

The Cleveland-based company said it had profit of 89 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The manufacturer of specialized welding products and other equipment posted revenue of $567.6 million in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $591.5 million.

Lincoln Electric shares have climbed 21 percent since the beginning of the year. The stock has risen 15 percent in the last 12 months.