Lincoln Elec Hldgs Inc Stock Price, News & Analysis

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) will participate in three virtual events in November 2020 aimed at the financial community. These events include the Baird 2020 Global Industrial Conference on November 10, the Bernstein Operational Decisions Conference on November 16, and the Northcoast Research Fall Management Forum on November 17. Key executives, including Chairman and CEO Christopher L. Mapes and CFO Gabriel Bruno, will represent the company. Lincoln Electric is recognized as a global leader in welding products and has a broad manufacturing presence with 59 locations across 18 countries.

Lincoln Electric reported a third quarter 2020 net income of $58.5 million, or $0.97 EPS, reflecting an 8.5% decline in net sales to $668.9 million compared to the previous year. Adjusted EPS stood at $1.10. Operating income margin was 11.6%, with an adjusted margin of 12.6%. The company anticipates cost reduction benefits between $80 million and $85 million for the year. For the nine months ending September 30, net income decreased to $141 million, or $2.34 EPS, amid an overall 13.5% decline in sales. A quarterly dividend was raised 4.1% to $0.51 per share.

Lincoln Electric Holdings (Nasdaq: LECO) announced Steven B. Hedlund as Executive Vice President and President of the Americas and International Welding segments. Hedlund will spearhead the company's Higher Standard 2025 Strategy, focusing on growth and margin enhancement. Key initiatives include strategic investments in IT systems, operational processes, and joint product development, which are expected to improve alignment across regional welding businesses. This role aims to accelerate commercial growth and drive long-term stakeholder value.

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has announced the appointment of Kellye L. Walker to its Board of Directors, effective October 20, 2020. Walker, Executive Vice President and Chief Legal Officer of Eastman Chemical Company, brings extensive experience in corporate governance and strategy development, which will benefit Lincoln Electric's Higher Standard 2025 Strategy. The company now has 12 directors, 11 of whom are non-employee directors. Lincoln Electric, a leader in welding products and systems, operates 59 manufacturing locations globally.

Lincoln Electric announced a 4.1% increase in its quarterly cash dividend, raising it from $0.49 to $0.51 per share, equivalent to $2.04 annually. This marks the 25th consecutive annual increase, highlighting the company's strong cash flow and commitment to shareholder value. The dividend will be payable on January 15, 2021, to shareholders of record as of December 31, 2020. The company continues to focus on long-term growth while maintaining its dividend strategy.

Lincoln Electric Holdings (Nasdaq: LECO) announced its third quarter 2020 results will be released on October 27, 2020, before market open. An investor conference call is scheduled for 10:00 a.m. (ET) on the same day, which will be available via webcast. Interested parties can access the webcast and participate by registering on the Company's Investor Relations website.

Lincoln Electric, a leader in welding products and automation, operates in 18 countries with a strong global distribution network.

Lincoln Electric Holdings (LECO) reported a 24.0% decline in net sales for the second quarter of 2020, totaling $590.7 million. Operating income was 6.7% of sales, down from 13.5% in the prior year, affected by $23.2 million in rationalization charges. Adjusted EPS was $0.80, compared to $1.28 the previous year. The company expects $55 to $65 million in cost reductions for 2020. Six-month net income was $82.6 million, with a notable decrease in revenue and earnings compared to 2019.

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has declared a quarterly cash dividend of $0.49 per common share, set for payment on October 15, 2020, to shareholders of record as of September 30, 2020. As a leader in arc welding products and automated systems, Lincoln Electric is headquartered in Cleveland, Ohio, with 59 manufacturing locations across 18 countries. The company has a vast distribution network that spans over 160 countries.

CLEVELAND, July 21, 2020 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Nasdaq: LECO, will participate in key financial events this August. The company will present at the Jefferies Virtual Industrials Conference on August 5, 2020, at 9:10 a.m. ET, with CEO Christopher L. Mapes. Additionally, Gabriel Bruno, CFO, will represent Lincoln at the Seaport Global Annual Virtual Summer Investor Conference on August 26, 2020. Lincoln Electric is a global leader in arc welding products and has a robust presence with 59 manufacturing locations across 18 countries.