Lincoln Electric (LECO) Q4 Earnings Top, Sales Lag Estimates
Zacks Investment Research | Feb 16, 2020 09:16PM ET
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) reported fourth-quarter 2019 adjusted earnings of $1.15 per share, which beat the Zacks Consensus Estimate of $1.13. However, the reported figure declined 11% year over year. While reduction in global industrial production rates across most of the end sectors impacted demand for consumables, slowdown in capital spending and project deferrals reduced orders for automated systems. This impacted the company’s fourth-quarter top and bottom-line performance.
Including one-time items, the bottom line came in at $1.03 compared with $1.35 in the prior-year quarter.
Total revenues declined 1% year over year to $736 million as a decrease of 6.5% in organic sales offset a gain of 5.9% from acquisitions. The top line missed the Zacks Consensus Estimate of $737 million.
Lincoln Electric Holdings, Inc. Price, Consensus and EPS Surprise
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