Fri, Sep. 25, 11:20 AM
- Barclays analyst Robert Wertheimer begins coverage of the U.S. machinery sector with a negative view, seeing consensus estimates too high across the board with revenue for the current cycle already peaking for most of the sector.
- The analyst expects a sharper than expected downturn for North American trucks, with another peak level eight years away; the tractor supercycle is only two years in a downturn, while the prior two supercycles saw seven consecutive down years in machinery sales, Wertheimer says.
- Of the 15 companies in the firm's sector coverage universe, only two are rated Overweight: United Rentals (URI +1.5%) and Allison Transmission (ALSN +0.4%).
- Started with Equal Weight ratings: Actuant (ATU -1.2%), AGCO (AGCO +1%), Caterpillar (CAT -1%), Joy Global (JOY -2.9%), Lincoln Electric (LECO -0.8%), Manitowoc (MTW -1.9%), Terex (TEX -0.7%) and WABCO (WBC -1.2%).
- Rated Underweight: Deere (DE -0.3%), CNH Industrial (CNHI +1.5%), Cummins (CMI -0.8%), PACCAR (PCAR -1%) and Navistar (NAV -2.9%).
Mon, Jul. 27, 8:20 AM
- Adjusted net income of $71.8M, or $0.95 per diluted share vs. $81.5, or $1.01 per diluted share, in the comparable 2014 period.
- Adjusted operating income decreased 15.9% to $98M or 14.7% of sales, compared with $116.6M, or 16% of sales in 2014.
- During the quarter, Lincoln Electric (NASDAQ:LECO) returned $55.6M to shareholders through share repurchases.
- Q2 results
Mon, Jul. 27, 7:30 AM
Sun, Jul. 26, 5:30 PM
Thu, Jul. 23, 5:34 PM
Thu, Apr. 23, 4:46 PM
Tue, Apr. 21, 10:33 AM
- Adjusted net income of $68.3M, or $0.89 per diluted share vs. $74.1, or $0.91 per diluted share, in the comparable 2014 period.
- Adjusted operating income decreased 7.7% to $90.5M or 13.8% of sales, compared with $98.1M, or 14.3% of sales in 2014.
- During the quarter, Lincoln Electric (LECO +1.1%) returned $102.9M to shareholders through share repurchases. The company's 2015 share repurchase target is $400M.
- Q1 results
Tue, Apr. 21, 7:30 AM
Mon, Apr. 20, 5:30 PM
Tue, Feb. 17, 7:46 AM
- Adjusted net income of $75.4M, or $0.96 per diluted share vs. $89.2, or $1.09 per diluted share, in the comparable 2013 period.
- During the quarter, the company returned $57.8M to shareholders through share repurchases. The company's 2015 share repurchase target is $400M.
- "Looking ahead to 2015...while we are cautious about near-term factors such as foreign exchange and oil prices, we expect our strategic initiatives will continue to generate value for all of our stakeholders through the cycle," announced CEO Christopher Mapes.
- Q4 results
Tue, Feb. 17, 7:31 AM
Mon, Feb. 16, 5:30 PM
Thu, Feb. 5, 4:44 PM
Nov. 19, 2014, 7:33 AM
Oct. 30, 2014, 9:41 AM
- Adjusted net income of $74.9M, or $0.94 per diluted share vs. $71.1M, or $0.86 per diluted share, in the comparable 2013 period.
- Cash flows from operations up 10.7% to $268M on a year-to-date basis.
- The company repurchased 1.8M common shares during the quarter, returning $130M to shareholders, and increased its 2014 share repurchase target to $300M.
- Q3 results
Oct. 30, 2014, 7:35 AM
LECO vs. ETF Alternatives
Lincoln Electric Holdings, Inc., manufactures welding, cutting and brazing products. Its welding product includes arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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