billboard - default
interstitial1 - interstitial
interstitial2 - interstitial

Lincoln Electric Q3 Sales Up 20%

SHARE

The Lincoln Electric Logo

Lincoln Electric reported third quarter 2021 net income of $31.8 million, or diluted earnings per share (EPS) of $0.53, which includes special item after-tax charges of $62.0 million, or $1.03 EPS; Q3 2021 sales increased 20.6 percent to $806.5 million from an 18.3 percent increase in organic sales, 2.0 percent benefit from acquisitions and 0.3 percent favorable foreign exchange.

Special item charges primarily relate to the termination of a pension plan. This compares with prior year period net income of $58.5 million, or $0.97 EPS, which included special item after-tax charges of $7.5 million, or $0.13 EPS. Excluding these items, third quarter 2021 adjusted net income was $93.8 million, or $1.56 Adjusted EPS. This compares with Adjusted net income of $66.0 million, or $1.10 Adjusted EPS in the prior year period.

Operating income for the third quarter 2021 was $115.6 million, or 14.3 percent of sales, including special item charges of $7.2 million. This compares with operating income of $77.8 million, or 11.6 percent of sales, in the prior year period. Excluding special items, adjusted operating income was $122.7 million, or 15.2 percent of sales, as compared with $84.1 million, or 12.6 percent of sales, in the prior year period.

“I am pleased to report that strong execution of our 2025 Higher Standard Strategy initiatives delivered record third quarter adjusted earnings performance,” said Christopher L. Mapes, chairman, president, and CEO. “We are serving strong demand and are effectively managing inflationary headwinds and supply chain constraints, which generated solid cash flows, cash conversion and superior returns.”

Source: Lincoln Electric

leaderboard2 -