Lincoln Electric (LECO) Tops Q1 EPS by 8c

Lincoln Electric (NASDAQ: LECO) reported Q1 EPS of $0.76, $0.08 better than the analyst estimate of $0.68. Revenue for the quarter came in at $550.7 million versus the consensus estimate of $560.71 million.

“We achieved solid margins and returns this quarter,” stated Christopher L. Mapes, Chairman, President and Chief Executive Officer. “While volumes continued to compress on weak industrial demand and challenging year-over-year comparisons, cost reduction actions and solid execution of our operational and commercial initiatives significantly mitigated the impact of year-over-year declines. In this part of the cycle, we continue to invest in innovation, our long-term growth strategies and returning cash to shareholders. We are diligently managing costs and margin performance and are looking for sustainable improvement in industrial sector conditions to drive increased customer demand.”

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

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