Lincoln Electric Holdings, Inc. (LECO), a welding, cutting, and brazing products manufacturer, Thursday reported higher earnings and revenue for the first quarter compared to the same period last year.
Quarterly earnings increased 15.1 percent to $136.4 million or $2.47 per share from $118.5 million or $2.10 per share of last year.
Excluding items, earnings rose to $138.5 million or $2.50 per share from $121.9 million or $2.16 per share of the previous year.
Revenue grew 11.7 percent to $1,121.4 million from $1004.4 million of the prior year, reflecting a 7.8 percent increase in organic sales, a 1.6 percent benefit from acquisitions and a 2.3 percent favorable foreign exchange.
On Wednesday, LECI shares closed at $257.51, down 0.96% on the Nasdaq.
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