Lincoln Electric (LECO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Lincoln Electric Holdings (LECO) reported revenue of $1.06 billion, up 9.4% over the same period last year. EPS came in at $2.44, compared to $2.18 in the year-ago quarter.
The reported revenue represents a surprise of -3.48% over the Zacks Consensus Estimate of $1.1 billion. With the consensus EPS estimate being $2.32, the EPS surprise was +5.17%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Lincoln Electric performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- The Harris Products Group: $130.20 million versus $133.88 million estimated by four analysts on average.
Net Sales- International Welding: $253.40 million versus $252.39 million estimated by four analysts on average.
Net Sales- Americas Welding: $676.97 million versus the four-analyst average estimate of $713.56 million.
Inter-segment sales- Americas Welding: $30.85 million compared to the $35.64 million average estimate based on two analysts.
Inter-segment sales- International Welding: $8.29 million versus $9.53 million estimated by two analysts on average.
Inter-segment sales- The Harris Products Group: $2.87 million compared to the $2.88 million average estimate based on two analysts.
Total Sales- The Harris Products Group: $133.06 million compared to the $135.68 million average estimate based on two analysts. The reported number represents a change of -5.1% year over year.
Total Sales- Corporate and Elimination: -$42.01 million versus -$48.04 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.4% change.
Total Sales- Americas Welding: $707.82 million compared to the $753.75 million average estimate based on two analysts. The reported number represents a change of +13.3% year over year.
Total Sales- International Welding: $261.70 million compared to the $259.80 million average estimate based on two analysts. The reported number represents a change of +6.3% year over year.
Adjusted EBIT- Americas Welding: $139.87 million versus the four-analyst average estimate of $143.42 million.
Adjusted EBIT- Corporate/Eliminations: -$2.18 million compared to the -$3.87 million average estimate based on four analysts.
View all Key Company Metrics for Lincoln Electric here>>>
Shares of Lincoln Electric have returned +5% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Lincoln Electric Holdings, Inc. (LECO) : Free Stock Analysis Report
