Lincoln Electric(US:LECO)2023-10-27 18:49Financial Performance - Q3 2023 net sales increased by 10.5% year-over-year to $1033.2 million[10], compared to $935.2 million in Q3 2022[10] - Q3 2023 adjusted operating income increased by 19.7% year-over-year to $183.4 million[10], representing 17.7% of sales[10], compared to $153.2 million in Q3 2022, which was 16.4% of sales[10] - Q3 2023 adjusted diluted EPS increased by 17.6% year-over-year to $2.40[10], compared to $2.04 in Q3 2022[10] - The company returned $82 million to shareholders through dividends and share repurchases[7] - Q3 2023 cash flow from operations increased by 71% year-over-year[27] Segment Performance - Americas Welding segment net sales increased by 13.6% year-over-year[32] - International Welding segment net sales increased by 11.8% year-over-year[36] - The Harris Products Group net sales decreased by 5.4% year-over-year[21] Sales Trends - Q3 organic sales increased by 0.4%[7], but were negatively impacted by approximately 230 bps due to fewer shipping days[8] - Equipment sales were up mid-single digit percent[8] - Consumables sales were down low-single digit percent in HPG (HVAC)[8] Market Performance - Energy sector sales were up mid-teens percent[8] - Heavy Industries sector sales were up mid-to-high single digit percent[8] - Automotive sector sales declined mid-teens percent[8] Outlook - The company anticipates low-double digit percent sales growth for the full year 2023, with mid-single digit percent organic sales growth[47]