Lincoln Electric Q4 Results Rise, Beat Estimates

(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) reported Thursday that its fourth-quarter net income was $156.6 million or $2.70 per share, compared to prior year's $109.1 million or $1.87 per share.

Adjusted net income was $142 million or $2.45 per share, compared to $113.2 million or $1.94 per share last year.

Analysts on average expected the company to report earnings of $2.18 per share for the quarter, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Fourth-quarter 2023 sales increased 13.7 percent to $1.06 billion from last year's $930.93 million, reflecting a 2.6 percent increase in organic sales. The Street was looking for sales of $1.03 billion for the quarter.

In pre-market activity on Nasdaq, Lincoln shares were gaining around 1.5 percent to trade at $235.

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