Lincoln Electric Q2 Profit Tops Estimates

(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) reported second quarter adjusted net income of $128.2 million, or $2.18 per share compared to $100.6 million, or $1.67 per share, last year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.96, for the quarter. Analysts' estimates typically exclude special items.

Net income was $127.8 million, or earnings per share of $2.18, compared with $96.1 million, or $1.60 per share, last year.

Sales increased 17.3% to $969.6 million from a 20.5% increase in organic sales and a 2.9% benefit from acquisitions, partially offset by 6.1% unfavorable foreign exchange. Analysts on average had estimated $939.35 million in revenue.