财务数据和关键指标变化 - 第三季度销售额增长10.5%,达到10.33亿美元 [9][20] - 毛利润增长约18%,毛利率提升230个基点至35.4% [20][21] - 调整后营业利润增长20%,营业利润率提升130个基点至17.7% [21] - 调整后每股收益增长18%至2.40美元 [22] - 经营活动现金流增长71%,达到2.23亿美元,自由现金流转换率为141% [26] 各条业务线数据和关键指标变化 美洲焊接业务 - 销售额增长14%,其中自动化业务贡献约12% [23] - 调整后EBIT利润增长15%,利润率提升60个基点至19.7% [23] 国际焊接业务 - 销售额有机增长约3%,调整后EBIT利润增长20%,利润率提升110个基点至12.2% [24] Harris产品集团 - 销售额有机下降约6.5%,调整后EBIT利润增长41%,利润率提升530个基点至15.9% [25] 各个市场数据和关键指标变化 - 能源、重工业和通用工业等三大终端市场占收入约2/3,在第三季度持续增长 [15] - 消费品需求作为工厂活动的晴雨表,有4个终端市场实现同比增长,占收入约85% [15] - 建筑基础设施需求持续疲软,受到前期强劲表现的不利影响 [16] - 汽车运输行业有机销售下降,但自动化业务保持强劲增长 [16] 公司战略和发展方向及行业竞争 - 公司自动化业务加速发展,第三季度销售额达2.38亿美元,有望在2025年实现10亿美元目标 [9][39] - 公司持续投资于自动化和生产效率提升,以应对通胀压力 [56][57] - 尽管宏观环境存在不确定性,但客户对公司焊机设备和自动化解决方案的需求保持强劲 [44][45][57] 管理层对经营环境和未来前景的评论 - 公司第四季度有望实现中单位数有机销售增长 [17][29] - 公司有信心在2023年实现超过100%的现金流转换率 [30] - 公司对2024年的定价策略和成本压力保持谨慎,将继续关注提升生产效率 [87] - 公司管理层交接顺利,新任CEO有信心继续推进公司战略 [100] 问答环节重要的提问和回答 问题1 **Bryan Blair 提问** 对于第四季度5-10百万美元的汽车行业销售影响,是否主要集中在消费品业务? [36][37] **Gabe Bruno 回答** 是的,短周期的消费品业务会受到更大影响,而设备业务影响较小 [37] 问题2 **Saree Boroditsky 提问** 公司是否看到客户因高利率和宏观不确定性而推迟投资计划? [44][45] **Steve Hedlund 回答** 尚未看到客户在资本支出方面受到显著影响,客户对公司的生产效率解决方案需求仍然强劲 [44][45] 问题3 **Nathan Jones 提问** 公司2023年的订单交付情况如何?是否会对2024年产生负面影响? [58][59][60] **Chris Mapes 回答** 公司核心焊接业务的订单已基本正常化,不会对2024年产生负面影响 [59][60]

October 27, 2023 LINCOLN ELECTRIC HOLDINGS, INC. Q3 2023 Earnings Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Non-GAAP Measures: Statements made during this presentation which are not Our management uses non-GAAP financial measures in historical facts may be considered forward-looking statements. assessing and evaluating the Company’s performance, which Forward-looking statements involve risks and uncertainties that exclude items we consider unusual or special items. We believe coul ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter ...

财务数据和关键指标变化 - 第二季度销售额增长9%至10.61亿美元,其中5.2%来自收购、3.6%来自销量增长、0.9%来自价格上涨 [27] - 毛利润增加12%至3.74亿美元,毛利率提升80个基点至35.2% [28] - 销售、一般及管理费用增加16%至1.93亿美元,占销售额比重增加100个基点至18.2% [29] - 调整后营业利润增加10%至1.84亿美元,调整后营业利润率提升10个基点至17.4% [30] - 每股调整后收益创新高,达2.44美元 [33] 各条业务线数据和关键指标变化 美洲焊接业务 - 销售额增长14%,其中7%来自有机增长、7%来自收购 [35] - 销量增长6%,所有产品线均有增长 [35] - 调整后EBIT增长19%,调整后EBIT利润率提升90个基点至19.8% [34] 工业焊接业务 - 有机销售额增长约4%,主要来自亚太和中东非地区的销量增长 [37] - 调整后EBIT下降3.5%,调整后EBIT利润率下降130个基点至12.9% [37] Harris产品集团 - 有机销售额下降约5%,主要受零售和HVAC市场疲软影响 [39] - 调整后EBIT增长约9%,调整后EBIT利润率提升190个基点至14.7% [39] 各个市场数据和关键指标变化 - 能源市场强劲增长,主要受中游管道和管线活动旺盛带动 [20] - 重工业市场保持强劲,农机、建筑设备和造船活动旺盛 [21] - 汽车运输市场在设备和自动化交付时间推迟影响下有所下滑,但消耗品销售保持增长 [21] - 一般工业市场有所下滑,主要受国际焊接和Harris业务疲软影响 [22] - 美国一般工业市场在第二季度末有所改善 [23] - 非住宅建筑基础设施市场下滑幅度收窄至中个位数 [23] 公司战略和发展方向及行业竞争 - 公司正在加快创新、增长和运营卓越,转型为高绩效的全球工业公司和焊接、切割及自动化解决方案的全球领导者 [46] - 自动化业务规模已超过9亿美元,未来3-5年将保持高单位数的增长率 [73] - 电动车充电桩业务计划于2023年第四季度投产150千瓦直流快速充电器,2024年初推出NACS和CCS兼容版本 [17][86][89] - 公司将继续加大在这些新兴业务领域的投资,以推动未来3-5年的长期战略发展 [94][98] 管理层对经营环境和未来前景的评论 - 公司在第二季度保持了强劲的销量增长,特别是美洲焊接业务,为公司未来发展奠定了良好基础 [19][53][56] - 尽管一些区域和行业出现一定下滑,但公司整体保持增长势头,进入第三季度的订单和需求状况良好 [25][56] - 管理层对公司未来3-5年的发展前景充满信心,认为公司已转型为高绩效的全球工业公司,各项业务都有良好的增长潜力 [72][73][98] 问答环节重要的提问和回答 问题1 **Saree Boroditsky提问** 询问汽车和一般工业市场的情况,以及对第三季度的预期 [50] **Steven Hedlund回答** 汽车市场下滑主要是设备和自动化项目交付推迟,但消耗品销售保持增长,预计第三季度将有所好转。一般工业市场下滑主要受Harris和欧洲业务疲软影响,美国市场表现良好 [51][52] 问题2 **Mircea Dobre提问** 询问公司调整全年价格和销量预期的原因 [65] **Gabriel Bruno回答** 价格预期调整是由于整体通胀环境有所缓解,公司将继续保持价格成本中性的策略。销量预期上调是由于第三季度汽车和一般工业市场有望好转 [66][67][68] 问题3 **Nathan Jones提问** 询问公司在第二季度末的需求趋势变化 [78] **Christopher Mapes回答** 公司在第二季度末的需求确实有所加速,特别是美洲焊接业务,体现了良好的基本面 [79][80]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter) Ohi ...

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q1 2023 Earnings Conference Call April 27, 2023 10:00 AM ET Company Participants Amanda Butler – Vice President-Investor Relations and Communications- Chris Mapes – Chairman, President and Chief Executive Officer- Steve Hedland – Chief Operating Officer Gabe Bruno – Chief Financial Officer Conference Call Participants Bryan Blair – Oppenheimer Mig Dobre – R.W. Baird Walt Liptak – Seaport Research Steve Barger – KeyBanc Adam Farley – Stifel Operator Greetings, an ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter) Oh ...

April 27, 2023 LINCOLN ELECTRIC HOLDINGS, INC. Q1 2023 Earnings Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect, ...

February 23, 2023 LINCOLN ELECTRIC HOLDINGS, INC. Overview Safe Harbor and Regulation G Disclosures Forward-Looking Statements: Statements made during this presentation which are not historical facts may be considered forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect," "in ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number 0-1402 LINCOLN ELECTRIC HOLDINGS, INC. (Exact name of registrant as specified in its charter) Ohio 34- ...