Lincoln Electric (LECO +2.2%) gains despite posting a mixed Q2, missing on revenue but beating on a per share basis.
Looking forward, CEO Christopher Mapes says the company is maintaining a cautious outlook for the balance of the year on mixed end sector performance, but expects post solid margin and earnings performance, fueled by its new initiatives, product introductions and the careful management of expenses.
Stifel Nicolaus raises its price target to $68 on the back of the report, noting that LECO reported another strong quarter with significant margin expansion despite softer revenues.
Lincoln Electric (LECO +1.5%) has acquired Tennessee Rand Inc., a privately held manufacturer of tooling and robotic systems for welding applications. Financial terms of the agreement were not disclosed.
Welding product maker Lincoln Electric (LECO +13%) gains after its Q3 EPS topped Street estimates, despite coming up short on revenue. Total profits were flat overall, but better operating profit and improved margins helped buoy its bottom line performance.
Shares of welding-products maker Lincoln Electric (LECO -8.5%) tank after missing big on its Q2 report earlier today. Sales growth came in at 6.4%, which was far below expectations for the quarter and well behind the increase seen in Q1. Additionally, the company issued a cautious outlook for the second half, noting heightened uncertainty in both political and economic environments globally.
Lincoln Electric Holdings, Inc., is a manufacturer & reseller of welding and cutting products. Welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.