Lincoln Electric Q1 Profit Increases, beats estimates

(RTTNews) - Lincoln Electric (LECO) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $126.03 million, or $2.13 per share. This compares with $74.17 million, or $1.23 per share, in last year's first quarter.

Excluding items, Lincoln Electric reported adjusted earnings of $124.68 million or $2.10 per share for the period.

Analysts on average had expected the company to earn $1.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.2% to $925.44 million from $757.02 million last year.

Lincoln Electric earnings at a glance (GAAP) :

-Earnings (Q1): $126.03 Mln. vs. $74.17 Mln. last year. -EPS (Q1): $2.13 vs. $1.23 last year. -Analyst Estimate: $1.67 -Revenue (Q1): $925.44 Mln vs. $757.02 Mln last year.