Highlights

  • Net sales for the three months ended September 30, 2026 were $1,221,281 thousand, compared with $1,061,227 thousand in the prior year quarter.
  • Net income was $144,346 thousand, or $2.63 per diluted share, compared with $122,628 thousand, or $2.21 per diluted share.
  • Gross profit was 34.8% of sales, compared with 36.7%, which the company attributed to higher input costs.
  • The company anticipates capital expenditures of $140,000 to $150,000 thousand in 2026 and held $283,237 thousand in cash.

Lincoln Electric Holdings, Inc. (NASDAQ: LECO) shares were trading at USD 279.26 on October 27, 2026, up 7.97%, with a relative volume at time of 4.63. The welding and cutting equipment maker paid a cash dividend of $0.79 per share in October 2026 and filed its quarterly report for the period ended September 30, 2026 on October 27, 2026, with capital expenditure plans for 2026.

Lincoln Electric Holdings is an Ohio corporation with principal executive offices at 22801 St. Clair Avenue in Cleveland, Ohio. The company makes industrial machinery and technology for welding, cutting, brazing, machining, process automation and field repair, including arc welding equipment, filler metals, cutting systems, automated solutions and services. It reports three operating segments: Americas Welding, International Welding and The Harris Products Group. The Harris Products Group covers global cutting, soldering and brazing businesses, specialty gas equipment and a retail business. Its fiscal year ends December 31.

Third Quarter 2026 Results

Net sales for the three months ended September 30, 2026 were $1,221,281 thousand, against $1,061,227 thousand in the same quarter of 2025. The company said the change reflected higher organic sales, with higher volumes and higher pricing due to higher input costs, plus benefits from acquisitions and foreign exchange. Operating income was $211,376 thousand, or 17.3% of sales, compared with $176,657 thousand, or 16.6%.

Gross profit was $425,031 thousand, or 34.8% of sales, compared with $389,311 thousand, or 36.7%. The company said the lower percentage reflected higher input costs and noted last-in, first-out (LIFO) charges of $1,888 thousand, compared with $4,804 thousand a year earlier. Rationalization and asset impairment net charges were $7,853 thousand, compared with $5,831 thousand. The effective tax rate was 27.8%, compared with 26.1%. In the third quarter the company recognized approximately $12,977 thousand of income tax expense related to a change in its assertion on certain foreign earnings.

Net income was $144,346 thousand, or $2.63 per diluted share, compared with $122,628 thousand, or $2.21. Adjusted diluted earnings per share, a non-GAAP measure, was $2.98, compared with $2.47.

For the nine months ended September 30, 2026, net sales were $3,562,378 thousand, net income was $439,247 thousand and diluted earnings per share were $7.97.

Segment Results

Net sales were $801,264 thousand in Americas Welding, $226,904 thousand in International Welding and $193,113 thousand in The Harris Products Group for the third quarter. The company attributed the Americas Welding change to improved industrial demand and higher volumes across all three product lines. It attributed the International Welding volume decrease to slow industrial activity in Europe and the Middle East conflict. The company also reported that International Welding Adjusted EBIT and Adjusted EBIT as a percent of sales decreased, which it linked to lower volumes and higher input costs, partly offset by acquisitions.

Cash Flow, Debt and Capital Returns

Cash provided by operating activities for the nine months ended September 30, 2026 was $571,691 thousand, compared with $566,208 thousand. Capital expenditures were $111,819 thousand. Purchase of shares for treasury was $232,189 thousand and cash dividends paid to shareholders were $130,689 thousand.

At September 30, 2026, the company had $283,237 thousand of cash and cash equivalents, of which $179,018 thousand was held by international subsidiaries. Total debt was $1,149,969 thousand, and there were no outstanding borrowings under its $1,050,065 thousand of revolving credit facilities. As of that date, 4.3 million shares remained available under the share repurchase authorization, and the company is not obligated to make repurchases. In October 2026, it paid a cash dividend of $0.79 per share, or $42,784 thousand, to shareholders as of September 30, 2026.

Outlook

The filing does not include earnings guidance. It states that the company currently anticipates capital expenditures of $140,000 to $150,000 thousand in 2026, covering investments to increase capacity, improve operational effectiveness and general maintenance. Management said it expects to satisfy cash requirements for its ongoing businesses for the foreseeable future with cash from operations, existing cash balances and borrowings under existing credit facilities.