AP NEWS

Lincoln Electric: 3Q Earnings Snapshot

October 30, 2019 GMT

CLEVELAND (AP) _ Lincoln Electric Holdings Inc. (LECO) on Wednesday reported third-quarter profit of $72.5 million.

On a per-share basis, the Cleveland-based company said it had net income of $1.17. Earnings, adjusted for non-recurring gains, came to $1.09 per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The manufacturer of specialized welding products and other equipment posted revenue of $730.8 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $749.8 million.

Lincoln Electric shares have increased 20% since the beginning of the year. The stock has climbed 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LECO at https://www.zacks.com/ap/LECO