Lincoln Electric (NASDAQ: LECO) reported Q3 EPS of $1.10, $0.32 better than the analyst estimate of $0.78. Revenue for the quarter came in at $668.89 million versus the consensus estimate of $611.6 million.

Third Quarter 2020 Highlights

• Net sales decline narrows to 8.5% on 8.3% lower organic sales
• Operating income margin of 11.6%; Adjusted operating income margin of 12.6%
• EPS of $0.97; Adjusted EPS of $1.10
• Solid balance sheet profile and strong cash flow generation with 117% cash conversion
• Cost reduction actions now estimated to provide $80 to $85 million of benefits in 2020

“We operated safely while supporting a rebound in demand across all of our regions and reportable segments in the third quarter," stated Christopher L. Mapes, Chairman, President and Chief Executive Officer. “Improved demand and diligent cost management generated solid profitability and earnings performance in the quarter.” Mapes continued, “Looking ahead, we are well-positioned to maximize growth and are focused on increasing profitability and returns to generate long-term value for our shareholders.”

For earnings history and earnings-related data on Lincoln Electric (LECO) click here.