EarningsQ2 2026 Earnings Report
MX:LECO Q2 2026 EPS Results
Actual EPS$53.60
Consensus EPS$51.39
Beat/MissBeat by +$2.21
One Year Ago EPS$47.57
MX:LECO Q2 2026 Revenue Results
Actual Revenue$22.29B
Expected Revenue$21.38B
Beat/MissBeat by +$909.31M
YoY Revenue Growth+11.98%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:LECO Upcoming Earnings
Lincoln Electric Holdings's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:LECO Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial inflection: strong consolidated top-line growth, record cash generation, improved margins and EPS, robust Americas and automation momentum, and an upgraded full-year sales outlook. However, the positives are tempered by margin compression driven by inflation and LIFO, weakness in International/EMEA and Middle East exposure, transportation softness, and ongoing commodity/trade risks that could limit near-term upside. Overall, management is upbeat and has raised guidance while noting several region- and cost-related headwinds that merit monitoring.Company Guidance
Strong Consolidated Sales Growth
Second quarter sales increased 12% to $1.220 billion. Consolidated organic sales rose 10%, driven roughly by +8% price, +2% volume, a 1.5% benefit from the Alloy Steel acquisition and ~40 basis points of favorable FX translation.
Record Cash Flow and Cash Conversion
Generated a record $254 million in cash flows from operations in Q2, achieving 138% cash conversion for the quarter and 95% year-to-date, on track to the 100% target for the year.
Improved Profitability and EPS
Reported and adjusted operating income increased ~15%; adjusted operating income margin improved 50 basis points to 18.4%. Adjusted earnings per share increased 13% to $2.93 (diluted EPS $2.88, +12.5%).
Americas Welding Momentum
Americas Welding sales rose ~11% (volumes +7%, price ~+4%, +40 bps FX). Equipment volumes grew low double-digits and equipment organic sales accelerated high teens; consumables grew high single-digits. Segment adjusted EBIT increased 15% to $158 million and adjusted EBIT margin improved 110 basis points to 19.7%; management expects 19%–20% EBIT margin for the remainder of the year.
Harris Products Group Outperformance on Price
Harris sales increased 27%, led by +34% price. Adjusted EBIT rose ~33% to $42 million and margin improved 100 basis points to 20.4% (management expects 18%–19% in H2 at current metal prices).
Automation & Backlog Strength
Automation sales were $229 million in the quarter with record backlog and strong quoting activity; management cites broad-based automation demand and expects automation to contribute high single-digit to low double-digit year-over-year sales improvement.
Capital Allocation and Returns to Shareholders
Returned $120 million to shareholders via higher dividend payout and share repurchases, invested $31 million in CapEx, and improved adjusted ROIC to 23%.
Raised Full-Year Sales Outlook
Management raised full-year net sales growth guidance to a low double-digit percent rate; full-year organic sales now expected in the high single-digit to low double-digit range with an approximate 1/3 volume / 2/3 price mix and an expectation of improved adjusted operating income margin with mid-20% incremental margin in H2.
Volume Inflection After Prolonged Compression
Business experienced an inflection to volume growth after nine quarters of compression, with growth broad-based in the Americas and pockets of improvement in Asia Pacific (China, India, Vietnam); 4 of 5 end markets grew in the quarter, representing ~80% of revenue exposure.
MX:LECO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed