Filing Flows › Lincoln Electric Holdings (LECO) › Q2 2025
Lincoln Electric Holdings (LECO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +7% from a year earlier and +8% from the quarter before. Operating margin was 17.6%, net earnings $143M (13.2% of revenue).
Lincoln Electric Holdings, Q2 2025: revenue $1.1B (+7% year over year), operating margin 17.6%, net earnings $143M, operating cash flow $144M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +8% | +7% |
| Gross profit | $406M | +11% | +6% |
| Operating profit | $192M | +17% | +29% |
| Net earnings | $143M | +21% | +41% |
| Operating cash flow | $144M | -23% | -16% |
| Free cash flow | $118M | -25% | -20% |
What changed
Revenue was $1.1B in Q2 2025, up 7% year over year and up 8% from the previous quarter. Americas Welding was the largest line at 64% of revenue. Americas Welding added $0.05B year over year (up 7%), 71% of the total change. International Welding declined 2%.
Gross margin was 37.3%, down 0.3 points from a year earlier. Operating profit was $0.19B, a 17.6% margin (up 3.1 points year over year). Of the extra revenue versus a year earlier, 65% reached operating profit, above the 15% margin then. Operating expenses fell 9% while revenue rose 7%. Net earnings were $0.14B, up 41% year over year. The effective tax rate was 21.9%.
Operating cash flow was $0.14B (down 16% year over year), 100% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.03B left free cash flow of $0.12B.
Questions
What was Lincoln Electric Holdings' revenue in the second quarter 2025?
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +7% from a year earlier and +8% from the quarter before.
Was Lincoln Electric Holdings profitable in the second quarter 2025?
Operating profit was $192M (17.6% of revenue) and net earnings $143M.