Lincoln Electric 1Q 2022 results

Lincoln Electric

Lincoln Electric reported its first quarter 2022 results. Its net income was of $126.0 million, or diluted earnings per share of $2.13.

Moreover, its net sales increase was of 22.2% to record $925.4 million on 22.1% higher organic sales. Also, a 4.6% benefit from acquisitions, the operating income for the quarter was $161.2 million, or 17.4% of sales, including special item charges of $1.9 million. This compares with operating income of $103.9 million, or 13.7% of sales, in the prior year period. Excluding special items, Adjusted operating income was $163.1 million, or 17.6% of sales, as compared with $109.2 million, or 14.4% of sales, in the prior year period.

In addition, EPS increases 73.2% to record $2.13 and adjusted EPS increases 53.3% to record $2.10. ROIC increases 610 basis points to 25.0% and returned $137.9 million to shareholders through dividends and share purchases.

CEO’s Statement

“We achieved record first quarter sales, adjusted operating income margin, and adjusted EPS performance despite challenging operating conditions; demonstrating the resilience of our business and the benefits of our strategic initiatives,” stated Christopher L. Mapes, Lincoln’s Chairman, President and Chief Executive Officer. “Solid demand trends, diligent execution and productivity offset market headwinds and a difficult prior year comparison. Given dynamic market and supply chain challenges, we continue to monitor conditions and are responding as necessary to ensure Lincoln Electric is well-positioned to advance and generate superior value through this portion of the cycle.”

On April 28, 2022 the company hosted a conference call to discuss first quarter 2022 financial results. This webcast is available at Lincoln’s webpage as well as the full report on the first quarter results and slides.

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Lincoln Electric

Lincoln Electric Holdings Inc. was founded on December 5, 1895 in Cleveland, Ohio, where is headquartered at the moment. It is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions. Also, of automated joining, assembly cutting systems, plasma and oxy-fuel cutting equipment.

Moreover, the company has recognition as the Welding Expert™ for its leading material science, software development, automation engineering, and application expertise. This advance customers’ fabrication capabilities to help them build a better world. It has 56 manufacturing locations in 19 countries and a worldwide network of distributors and sales offices serving customers in over 160 countries.

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