Lincoln Electric: 2Q Earnings Snapshot
CLEVELAND (AP) _ Lincoln Electric Holdings Inc. (LECO) on Tuesday reported second-quarter earnings of $85.5 million.
On a per-share basis, the Cleveland-based company said it had profit of $1.36. Earnings, adjusted for one-time gains and costs, were $1.28 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The manufacturer of specialized welding products and other equipment posted revenue of $777 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $791.9 million.
Lincoln Electric shares have risen 8% since the beginning of the year. The stock has decreased almost 8% in the last 12 months.