Lincoln Electric Q2 Results Top Estimates; Boosts Dividend 4.1% - Quick Facts

(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) reported Tuesday that net income for the third quarter declined to $58.5 million or $0.97 per share from $72.5 million or $1.17 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $66.0 million or $1.10 per share, compared to $67.7 million or $1.09 per share in the year-ago quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter decreased 8.5 percent to $668.89 million from $730.78 million in the same quarter last year. Organic sales declined 8.3 percent. Analysts expected revenues of $611.60 million.

Further, the company's Board of Directors declared a 4.1 percent higher quarterly cash dividend of $0.51 per share, payable on January 15, 2021 to shareholders of record as of December 31, 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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