Filing Flows › Lincoln Electric Holdings (LECO) › Q4 2025
Lincoln Electric Holdings (LECO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +2% from the quarter before. Operating margin was 17.1%, net earnings $136M (12.6% of revenue).
Lincoln Electric Holdings, Q4 2025: revenue $1.1B (+6% year over year), operating margin 17.1%, net earnings $136M, operating cash flow $95.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +2% | +6% |
| Gross profit | $374M | -4% | +1% |
| Operating profit | $184M | +4% | +4% |
| Net earnings | $136M | +11% | -3% |
| Operating cash flow | $95.0M | -60% | -0.9% |
| Free cash flow | $52.0M | — | -19% |
What changed
Revenue was $1.1B in Q4 2025, up 6% year over year and up 2% from the previous quarter. Americas Welding was the largest line at 63% of revenue.
Gross margin was 34.7%, down 1.4 points from a year earlier. Operating profit was $0.18B, a 17.1% margin (down 0.2 points year over year). Of the extra revenue versus a year earlier, 13% reached operating profit, below the 17% margin then. Operating expenses fell 1% while revenue rose 6%. The fastest-growing cost line was Other operating costs (+31%). Net earnings were $0.14B, down 3% year over year. The effective tax rate was 21.2%.
Operating cash flow was $0.09B (down 1% year over year), 70% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $4.4M 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 $0.05B.
Questions
What was Lincoln Electric Holdings' revenue in the fourth quarter 2025?
Lincoln Electric Holdings (LECO) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +2% from the quarter before.
Was Lincoln Electric Holdings profitable in the fourth quarter 2025?
Operating profit was $184M (17.1% of revenue) and net earnings $136M.