Lincoln Electric(LECO) ZACKS·2024-10-31 14:36Core Insights - Lincoln Electric Holdings (LECO) reported revenue of $983.76 million for the quarter ended September 2024, a decrease of 4.8% year-over-year, with EPS at $2.14 compared to $2.40 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $970.1 million by 1.41%, while the EPS surpassed the consensus estimate of $2.05 by 4.39% [1] Revenue Performance - Net Sales for the Harris Products Group were $130.51 million, exceeding the average estimate of $124.76 million, reflecting a year-over-year increase of 3.6% [3] - Net Sales for International Welding were $216.22 million, slightly above the average estimate of $213.95 million, but down 10.7% year-over-year [3] - Net Sales for Americas Welding were $637.03 million, surpassing the estimated $626.40 million, representing a decline of 4.2% compared to the previous year [3] Total Sales Analysis - Total Sales for the Harris Products Group reached $133.66 million, exceeding the average estimate of $125.39 million, with a year-over-year increase of 4.2% [3] - Total Sales for International Welding were $223.60 million, above the average estimate of $215.39 million, but down 9.4% year-over-year [3] - Total Sales for Americas Welding were $667.87 million, compared to the average estimate of $652.23 million, indicating a decline of 3.8% year-over-year [3] Inter-segment Sales - Inter-segment sales for Americas Welding were $30.85 million, exceeding the average estimate of $29.89 million, with a year-over-year increase of 6.8% [3] - Inter-segment sales for International Welding were $7.37 million, surpassing the average estimate of $5.48 million, reflecting a significant year-over-year increase of 50.6% [3] - Inter-segment sales for the Harris Products Group were $3.16 million, compared to the average estimate of $2.45 million, representing a year-over-year increase of 37.2% [3] Adjusted EBIT - Adjusted EBIT for Americas Welding was $125.52 million, exceeding the average estimate of $121.58 million [3] - Adjusted EBIT for Corporate/Eliminations was $4.50 million, compared to the average estimate of -$3.03 million, indicating a positive year-over-year change [3] Stock Performance - Lincoln Electric shares have returned +2.7% over the past month, outperforming the Zacks S&P 500 composite's +1% change [4] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [4]