Lincoln Elec Hldgs Inc - LECO STOCK NEWS

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) is set to participate in two significant financial community events this November. The Baird’s 2022 Global Industrial Conference is scheduled for November 8 in Chicago, while the J.P. Morgan Equity Opportunities Forum will take place on November 14 in Miami. The company is recognized as a global leader in advanced arc welding solutions, with 56 manufacturing locations in 19 countries, emphasizing its strong market presence. For details on their offerings, visit Lincoln Electric's website.

Lincoln Electric reported a strong third quarter in 2022, with net sales increasing by 16% to a record $935.2 million, driven by a 21% rise in organic sales. The net income surged to $109.2 million from $31.8 million year-over-year, while EPS rose 253% to $1.87. Operating margins improved, with a 15.2% margin reported. The company returned $59 million to shareholders through dividends and buybacks. The announcement of the $427 million acquisition of Fori Automation aims to boost automation growth.

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced a 14.3% increase in its quarterly cash dividend, raising it from $0.56 to $0.64 per share, equating to $2.56 annually. This marks the 27th consecutive annual dividend increase. The dividend is payable on January 13, 2023, to shareholders on record as of December 31, 2022. CEO Christopher L. Mapes attributed this increase to the successful execution of their Higher Standard 2025 Strategy and confidence in future cash flow generation.

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced the acquisition of Fori Automation, Inc. for $427 million, set to enhance its automation capabilities and expand its international footprint. This acquisition aims to support Lincoln's goal of achieving $1 billion in automation sales by 2025. Fori provides advanced automated welding and assembly systems, primarily for automotive and aerospace sectors. The deal is expected to add approximately $225 million in annual automation sales and is projected to be accretive to earnings by the fourth quarter of 2022.

Lincoln Electric will host the WorldSkills International Competition 2022 Special Edition for Welding and Construction Metal Work at its Welding Technology & Training Center in Cleveland, Ohio from October 17 to 21. The event will attract over 135 competitors and delegates from more than 30 countries, emphasizing skills in trades. As the official Global Industry Partner since 2011, Lincoln Electric aims to address the skilled welder shortage and promote workforce development. An education summit will also take place on October 19.

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) will announce its third quarter 2022 financial results on October 27, 2022, prior to market open. The company will hold an investor conference call at 10:00 a.m. ET the same day. Investors can join the call via webcast or telephone, with a replay available on the company's website following the event. Lincoln Electric is recognized as a leader in arc welding solutions and operates 56 manufacturing locations across 19 countries, serving customers globally.

Cleveland-based Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced its participation in key financial community events this September. The Morningstar Management Behind The Moat Conference will feature CFO Gabriel Bruno on September 7, 2022. Following this, on September 15, 2022, Bruno will present at the Morgan Stanley 10th Annual Laguna Conference, with a live webcast scheduled for 7:35 am Pacific Time. Investors can access the live presentation and replay through the company's Investor Relations website. Lincoln Electric is a leading global provider of welding solutions, with 56 manufacturing facilities worldwide.

Lincoln Electric Holdings announces its plan to design and manufacture DC fast chargers for the U.S. EV market, featuring a 50kW architecture scalable to over 300kW. Production is set for 2023 at its Cleveland, Ohio facility. The initiative aims to address 'range anxiety' by enhancing EV charging infrastructure, facilitating quicker charging times (15-45 minutes). It emphasizes domestic manufacturing to meet the Infrastructure Investment Act's requirements. CEO Christopher L. Mapes believes this venture will drive long-term growth and innovation as part of the Higher Standard 2025 strategy.