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Lincoln Electric Holdings (LECO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 27, 2026 · Lincoln Electric Holdings (LECO) Q3 2026 earnings results →
Q3 2026 Revenue up 15% year over year to $1.2B · 12¢ of every $1 of revenue kept as net profit · operating margin 17.3%
Lincoln Electric Holdings made $1.2B in Q3 2026 (+15% Y/Y): Consumables $683M, Equipment $306M, Automation $232M. Operating margin 17.3%, net earnings $144M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.2B in Q3 2026, up 15% year over year and roughly flat from the previous quarter. Consumables was the largest line at 56% of revenue. Consumables added $0.09B year over year (up 16%), 58% of the total change.
Gross margin was 34.8%, down 1.9 points from Q3 2025. Operating profit was $0.21B, a 17.3% margin (up 0.7 points year over year). Of the extra revenue versus Q3 2025, 22% reached operating profit, above the 17% margin then. Operating expenses grew 0% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+35%). Net earnings were $0.14B, up 18% year over year. The effective tax rate was 27.8%.
Operating cash flow was $0.22B (down 9% year over year), 149% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.04B. After capital expenditures ($0.04B), free cash flow as the company reports it was $0.17B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 27, 2026 | $1.2B | +15% | 17.3% | $144M | $216M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $1.2B | +12% | 18.1% | $159M | $254M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $1.1B | +12% | 16.6% | $136M | $102M |
| Q4 2025 | 10-K | Feb 25, 2026 | $1.1B | +6% | 17.1% | $136M | $95.0M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $1.1B | +8% | 16.6% | $123M | $237M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $1.1B | +7% | 17.6% | $143M | $144M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $1.0B | +2% | 16.4% | $118M | $186M |
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About Lincoln Electric Holdings
As used in this Annual Report on Form 10-K, the term "Company," except as otherwise indicated by the context, means Lincoln Electric Holdings, Inc. and its wholly-owned and majority-owned subsidiaries for which it has a controlling interest. Founded in 1895 and incorporated in the state of Ohio in 1906 as The Lincoln Electric Company, the Company reorganized into a holding company structure as Lincoln Electric Holdings, Inc. in 1998. The Company is a high-performance industrial machinery and technology leader who helps customers manufacture and maintain vital equipment and infrastructure. The Company’s innovative solutions enable higher quality and productivity across a variety of processes including welding, cutting, brazing, machining, process automation, and field repair.
In its own words, from its 10-K, filed Feb 25, 2026.
Lincoln Electric Holdings against its Metalworkg Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +20%. Operating margin: 17.3% against the peers' median 16.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LECO Lincoln Electric Holdings | Q3 2026 | $1.2B | +15% | 17.3% |
| SPXC SPX Technologies | Q3 2026 | $714M | +20% | 16.1% |
| NNBR NN | Q3 2026 | $131M | +26% | -2.5% |
| CVR Chicago Rivet & Machine | Q3 2026 | $7.5M | +2% | -12.2% |
Source: Lincoln Electric Holdings 10-Q on SEC EDGAR · CIK 59527 · Metalworkg Machinery & Equipment
13F: who owns LECO and who is buying
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Lincoln Electric Holdings gross margin by quarter
- Lincoln Electric Holdings operating margin by quarter
- Lincoln Electric Holdings net income by quarter
- Lincoln Electric Holdings free cash flow by quarter
- Lincoln Electric Holdings capital expenditures by quarter
- Lincoln Electric Holdings Consumables revenue by quarter
- Lincoln Electric Holdings Equipment revenue by quarter
- Lincoln Electric Holdings Automation revenue by quarter