AP NEWS
Click to copy
Click to copy

Lincoln Electric: 2Q Earnings Snapshot

July 23, 2019

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.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LECO at https://www.zacks.com/ap/LECO

All contents © copyright 2019 The Associated Press. All rights reserved.