Lincoln Electric Q4 Profit Rises, Beats Street

(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) that designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide on Thursday reported fourth quarter 2021 earnings that rose from last year and also surpassed the consensus estimates.

Net income for the period was $74.4 million or $1.25 per share as compared to $65.1 million or $1.08 per share in the previous period.

Adjusted net income for the period was $96.2 million or $1.61 per share as compared to $75.0 million or $1.24 per share in the corresponding quarter of the previous year.

10 analysts on avearge polled by Thomson Reuters were expecting the company to report earnings of $1.57 per share. Analysts typically exclude one-time items.

Net Sales for the period was $844.3 million as compared to $693.8 million in the previous period, registering a growth of 21.7 percent. 7 analysts polled by Thomson Reuters were expecting the company to report revenues of $821.06 million.

Operating income increased by 44 percent to $120.3 million, from $83.4 million in the year-ago quarter.

Shares of Lincoln Electric Holdings closed Wednesday's trading at $130.19, up $0.56 or 0.43 percent from previous close.