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 ...

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, 2020 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) Ohio 34- ...