Filing Flows › Lincoln Electric Holdings (LECO) › Q3 2025
Lincoln Electric Holdings (LECO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the third quarter 2025 (Q3 2025), +8% from a year earlier and -3% from the quarter before. Operating margin was 16.6%, net earnings $123M (11.6% of revenue).
Lincoln Electric Holdings, Q3 2025: revenue $1.1B (+8% year over year), operating margin 16.6%, net earnings $123M, operating cash flow $237M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -3% | +8% |
| Gross profit | $389M | -4% | +11% |
| Operating profit | $177M | -8% | +21% |
| Net earnings | $123M | -14% | +22% |
| Operating cash flow | $237M | +65% | +19% |
| Free cash flow | $205M | — | +25% |
What changed
Revenue was $1.1B in Q3 2025, up 8% year over year and down 3% from the previous quarter. Americas Welding was the largest line at 65% of revenue. Americas Welding added $0.05B year over year (up 9%), 71% of the total change.
Gross margin was 36.7%, up 0.9 points from a year earlier. Operating profit was $0.18B, a 16.6% margin (up 1.9 points year over year). Of the extra revenue versus a year earlier, 40% reached operating profit, above the 15% margin then. Operating expenses grew 3% against revenue growth of 8%. The fastest-growing cost line was SG&A (+11%). Net earnings were $0.12B, up 22% year over year. The effective tax rate was 26.1%.
Operating cash flow was $0.24B (up 19% year over year), 193% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $0.09B. After capital expenditures ($0.03B), free cash flow as the company reports it was $0.21B.
Questions
What was Lincoln Electric Holdings' revenue in the third quarter 2025?
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the third quarter 2025 (Q3 2025), +8% from a year earlier and -3% from the quarter before.
Was Lincoln Electric Holdings profitable in the third quarter 2025?
Operating profit was $177M (16.6% of revenue) and net earnings $123M.