Filing Flows › Lincoln Electric Holdings (LECO) › Q1 2025
Lincoln Electric Holdings (LECO) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Lincoln Electric Holdings (LECO) reported revenue of $1.0B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -2% from the quarter before. Operating margin was 16.4%, net earnings $118M (11.8% of revenue).
Lincoln Electric Holdings, Q1 2025: revenue $1.0B (+2% year over year), operating margin 16.4%, net earnings $118M, operating cash flow $186M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | -2% | +2% |
| Gross profit | $365M | -0.9% | -0.8% |
| Operating profit | $165M | -7% | -0.1% |
| Net earnings | $118M | -16% | -4% |
| Operating cash flow | $186M | +94% | +39% |
| Free cash flow | $159M | +147% | +48% |
What changed
Revenue was $1.0B in Q1 2025, up 2% year over year and down 2% from the previous quarter. Americas Welding was the largest line at 65% of revenue. Americas Welding added $0.03B year over year (up 5%), 125% of the total change. International Welding declined 7%.
Gross margin was 36.4%, down 1.2 points from a year earlier. Operating profit was $0.16B, a 16.4% margin (down 0.4 points year over year). Operating profit fell $129K even though revenue rose $0.02B versus a year earlier, so costs grew faster than sales. Operating expenses fell 1% while revenue rose 2%. Net earnings were $0.12B, down 4% year over year. The effective tax rate was 22.7%.
Operating cash flow was $0.19B (up 39% year over year), 157% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.03B left free cash flow of $0.16B.
Questions
What was Lincoln Electric Holdings' revenue in the first quarter 2025?
Lincoln Electric Holdings (LECO) reported revenue of $1.0B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -2% from the quarter before.
Was Lincoln Electric Holdings profitable in the first quarter 2025?
Operating profit was $165M (16.4% of revenue) and net earnings $118M.