Filing Flows › Lincoln Electric Holdings (LECO) › Q1 2026
Lincoln Electric Holdings (LECO) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), +12% from a year earlier and +4% from the quarter before. Operating margin was 16.6%, net earnings $136M (12.2% of revenue).
Lincoln Electric Holdings, Q1 2026: revenue $1.1B (+12% year over year), operating margin 16.6%, net earnings $136M, operating cash flow $102M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +4% | +12% |
| Gross profit | $399M | +7% | +9% |
| Operating profit | $186M | +1% | +13% |
| Net earnings | $136M | +0.3% | +15% |
| Operating cash flow | $102M | +8% | -45% |
| Free cash flow | $63.0M | — | -60% |
What changed
Revenue was $1.1B in Q1 2026, up 12% year over year and up 4% from the previous quarter. Consumables was the largest line at 57% of revenue. Consumables added $0.12B year over year (up 22%), 99% of the total change. Automation declined 2%.
Gross margin was 35.6%, down 0.8 points from Q1 2025. Operating profit was $0.19B, a 16.6% margin (up 0.2 points year over year). Of the extra revenue versus Q1 2025, 18% reached operating profit, above the 16% margin then. Operating expenses grew 6% against revenue growth of 12%. Net earnings were $0.14B, up 15% year over year. The effective tax rate was 21.3%.
Operating cash flow was $0.10B (down 45% year over year), 75% 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 used $0.07B. After capital expenditures ($0.04B), free cash flow as the company reports it was $0.06B.
Questions
What was Lincoln Electric Holdings' revenue in the first quarter 2026?
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), +12% from a year earlier and +4% from the quarter before.
Was Lincoln Electric Holdings profitable in the first quarter 2026?
Operating profit was $186M (16.6% of revenue) and net earnings $136M.