Lincoln Electric Holdings, Inc. (LECO) reported Wednesday that net income for the first quarter declined to $118.49 million or $2.10 per share from $123.42 million or $2.14 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $121.86 million or $2.15 per share, compared to $128.66 million or $2.23 per share in the year-ago quarter.
On average, ten analysts polled expected the company to report earnings of $2.23 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 2.4 percent to $1.0 billion from $981.20 million in the same quarter last year. Organic sales declined 1.2 percent. Analysts expected revenues of $979.96 million.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
For comments and feedback: editorial@rttnews.com