Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or (Exact name of registrant as specified in its charter) Ohio 34-1860551 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 22801 St. Clair Avenue, Cleveland, Ohio 44117 (Address of principal executive offices) (Zip Code) (216) 481 ...

Financial Data and Key Metrics Changes - The company achieved record sales of $3.2 billion in 2021, a 22% increase from the previous year, with 19% organic growth and 2% from acquisitions [8][10] - Adjusted earnings per share rose 50% to a record $6.22, with record returns of 23.9% [10][11] - Cash generation increased to $365 million, representing approximately 81% cash conversion, lower than the standard 100% performance [10][11] - The adjusted operating income margin increased by 240 basis points to 14.8% [8] Business Line Data and Key Metrics Changes - The Americas Welding segment's adjusted EBIT increased 21% to approximately $84 million, with organic sales up 24% [22] - The International Welding segment's adjusted EBIT nearly doubled to $28 million, with organic sales increasing approximately 13% [23] - The Harris Products Group saw a 16% increase in adjusted EBIT to $16 million, with organic sales up approximately 12% [25] Market Data and Key Metrics Changes - Organic sales growth was achieved across all end markets, with a strong mid-30% increase in construction infrastructure [13] - North America and European organic growth outpaced Asia Pacific due to slow industrial output in China [15] - Customers expressed needs for added capacity, driven by high demand, record backlogs, and low inventory levels [15] Company Strategy and Development Direction - The company is focused on its 2025 Higher Standard Strategy, targeting high single-digit to low double-digit sales growth from 2020 to 2025 [34][36] - The strategy includes advancing operational excellence, richening the business mix, and leveraging the Lincoln business system for greater efficiencies [36] - The company aims for an average operating income margin of 16% between 2020 and 2025, with a high teens to low 20% EPS growth rate [37] Management's Comments on Operating Environment and Future Outlook - Management anticipates navigating a dynamic operating environment in 2022, expecting a high single-digit to low double-digit organic growth rate [29] - The company plans to invest $70 million to $80 million in capital expenditures in 2022, with an expected cash conversion rate of approximately 90% [31] - Management expressed confidence in the demand profile and backlog levels entering 2022, indicating strong momentum [42][45] Other Important Information - The company increased its dividend by nearly 10%, marking the 26th consecutive increase [11] - The company maintained a solid balance sheet with approximately $729 million in liquidity and no near-term debt maturities [11][28] Q&A Session Summary Question: How is Lincoln's positioning and demand momentum entering 2022? - Management noted strong momentum from Q4 2021 continuing into early 2022, with strong backlogs primarily in equipment and automation [42] Question: What are the volume versus price contributions to the 2022 sales guide? - Management indicated that 2021 performance was about half volume and half price, with expectations for more price contribution in the first half of 2022 due to prior pricing actions [43][44] Question: What is the outlook for infrastructure spending and related catalysts? - Management highlighted that increased infrastructure spending is expected to positively impact various segments, including general industries and automation [46][47] Question: What is the expected contribution of automation to growth in 2022? - Management expects automation to grow at double-digit rates, driven by strong demand and backlog [72] Question: How does the company view the international business volume growth potential for 2022? - Management expects solid volume growth in the international business, excluding China, despite current challenges in that market [68] Question: What are the expectations for LIFO charges in 2022? - Management indicated that LIFO charges are factored into the operating plan, with expectations for a disciplined price/cost neutral approach [60][62] Question: How significant is the automation business in revenue now? - The automation business is currently at a run rate of around $500 million globally [95]

Financial Highlights - Full year 2021 reported sales increased 22% to a record $3.2 billion[9] - Full year 2021 adjusted EPS increased 50% to a record $6.22[9] - Full year 2021 record ROIC increased +620 bps vs prior year to 23.9%[9] - The company returned $286 million to shareholders through dividends and share repurchases in full year 2021[9] - Q4 2021 net sales increased 21.7% year-over-year to $844.3 million[12] - Q4 2021 adjusted diluted EPS increased 29.8% year-over-year to $1.61[12] Segment Performance - Americas Welding Q4 2021 net sales increased 24.2% year-over-year to $480.3 million[13] - International Welding Q4 2021 net sales increased 14.3% year-over-year to $245.5 million[17] - The Harris Products Group Q4 2021 net sales increased 28.1% year-over-year to $118.5 million[21] Sales Mix Analysis - Q4 2021 sales mix showed a total increase of 21.7%, with volume contributing 5.6% and price contributing 13.4%[11] - Americas Welding Q4 2021 sales mix showed a total increase of 24.2%, with volume contributing 9.3% and price contributing 14.6%[15] - International Welding Q4 2021 sales mix showed a total increase of 14.3%, with price contributing 13.9%[19] - The Harris Products Group Q4 2021 sales mix showed a total increase of 28.1%, with volume contributing 5.4% and price contributing 7.0%[21]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 (216) 481-8100 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified ...

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q3 2021 Earnings Conference Call October 28, 2021 10:00 AM ET Company Participants Amanda Butler - VP, IR & Communications Christopher Mapes - Chairman, President & CEO Gabriel Bruno - EVP, CFO & Treasurer Conference Call Participants Bryan Blair - Oppenheimer Dillon Cumming - Morgan Stanley Robert Barger - KeyBanc Capital Markets Operator Greetings, and welcome to the Lincoln Electric 2021 Third Quarter Financial Results Conference Call. [Operator Instructions] ...

Financial Performance & Strategy - Lincoln Electric reported a Q2 organic sales increase of 36%[6], driven by a 26% increase in volumes[6] - The company's Q2 performance saw approximately 80% of revenue from end sectors growing at a double-digit pace[6] - Lincoln Electric expects a high-teens percent organic sales growth for FY2021, reflecting H1-21 pricing actions[8] - The company's "Higher Standard 2025" strategy targets $1 billion in automation & additive sales by 2025[18] - Lincoln Electric's average annual sales growth target is mid-to-high single-digit percent[19], with an average 15% adjusted operating income margin[19] Balance Sheet & Capital Allocation - Lincoln Electric has a solid balance sheet with a total debt/EBITDA ratio of 1.55x and a net debt/EBITDA ratio of 1.15x as of June 30, 2021[9] - The company's total debt is $729 million and net debt is $538 million[9] - Lincoln Electric has ample liquidity of $767 million, including $191 million in cash and $576 million in available lines of credit[9] - The company expects >90% cash conversion in 2021[9] - Lincoln Electric's dividend has increased annually for 25 consecutive years, with a 4.1% CAGR from 2012-2021[34, 27]

Lincoln Electric Holdings, Inc. Overview Jefferies Industrials Conference August 4, 2021 Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied. Forward-looking statements generally can be identified by the use of words such a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter) (21 ...

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q2 2021 Earnings Conference Call July 27, 2021 10:00 AM ET Company Participants Amanda Butler - Vice President of Investor Relations & Communications Chris Mapes - Chairman, President & Chief Executive Officer Gabe Bruno - Chief Financial Officer Conference Call Participants Bryan Blair - Oppenheimer Mig Dobre - Baird Steve Barger - KeyBanc Capital Markets Dillon Cumming - Morgan Stanley Adam Farley - Stifel Walter Liptak - Seaport Operator Greetings and welcome ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 (216) 481-8100 (Registrant's telephone number, including area code) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLD ...