Filing Flows › Lincoln Electric Holdings (LECO) › Q2 2026 › vs Q2 2025
Lincoln Electric Holdings (LECO) Q2 2026 vs Q2 2025 (year over year)
Lincoln Electric Holdings's revenue rose $131M (+12%) from $1.1B in Q2 2025 to $1.2B in Q2 2026. The biggest changes: Consumables +$93.4M (+16%); Equipment +$25.0M (+9%); Automation +$12.7M (+6%). Gross margin 36.8% against 37.3% (-0.4 pts).
Lincoln Electric Holdings, Q2 2026: revenue $1.2B (+12% year over year), operating margin 18.1%, net earnings $159M, operating cash flow $254M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 36.8% | 37.3% | -0.4 pts |
| Operating margin | 18.1% | 17.6% | +0.4 pts |
| Net margin | 13.0% | 13.2% | -0.2 pts |
| Free cash flow margin | 18.2% | 10.9% | +7.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Consumables | $688M | $595M | $93.4M | +16% |
| Equipment | $303M | $278M | $25.0M | +9% |
| Automation | $229M | $216M | $12.7M | +6% |
| Revenue | $1.2B | $1.1B | $131M | +12% |
| Gross profit | $449M | $406M | $43.4M | +11% |
| Cost of revenue | $771M | $683M | $87.5M | +13% |
| Operating profit | $221M | $192M | $28.5M | +15% |
| Operating expenses | $228M | $213M | $14.9M | +7% |
| Pre-tax earnings | $208M | $184M | $24.3M | +13% |
| Other expense, net | $12.8M | $8.6M | $4.2M | +49% |
| SG&A | $225M | $211M | $14.0M | +7% |
| Other operating costs | $3.5M | $2.5M | $939K | +37% |
| Net earnings | $159M | $143M | $15.1M | +11% |
| Income tax | $49.4M | $40.2M | $9.2M | +23% |
| Depreciation & amortization | $26.0M | $24.5M | $1.5M | +6% |
| Share-based compensation | $4.9M | $3.9M | $950K | +24% |
| Working capital & other | $64.4M | −$28.0M | $92.4M | — |
| Operating cash flow | $254M | $144M | $110M | +76% |
| Free cash flow (company-reported) | $222M | $118M | $104M | +88% |
| Capital expenditures | $31.4M | $25.4M | $6.0M | +24% |
Questions
How much did Lincoln Electric Holdings's revenue grow year over year in Q2 2026?
Lincoln Electric Holdings's revenue rose $131M (+12%) from $1.1B in Q2 2025 to $1.2B in Q2 2026.
What drove Lincoln Electric Holdings's revenue change in Q2 2026?
Consumables +$93.4M (+16%); Equipment +$25.0M (+9%); Automation +$12.7M (+6%).