Lincoln Electric Q1 Profit Increases, beats estimates

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

The company's bottom line came in at $123.415 million, or $2.14 per share. This compares with $121.931 million, or $2.09 per share, in last year's first quarter.

Excluding items, Lincoln Electric reported adjusted earnings of $128.656 million or $2.23 per share for the period.

Analysts on average had expected the company to earn $2.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.6% to $981.197 million from $1.039 billion last year.

Lincoln Electric earnings at a glance (GAAP) :

-Earnings (Q1): $123.415 Mln. vs. $121.931 Mln. last year. -EPS (Q1): $2.14 vs. $2.09 last year. -Revenue (Q1): $981.197 Mln vs. $1.039 Bln last year.