Lincoln Electric Holdings Inc 8-K, filed Oct 27, 2026

Lincoln Electric Holdings Inc (LECO)

8-K 2026-10-27 For: 2026-10-27

Added on October 27, 2026

About this 8-K

Lincoln Electric Holdings Inc filed this 8-K on October 27, 2026.

Lincoln Electric Holdings Inc reported third-quarter 2026 net sales increased 15.1% to $1,221 million, diluted EPS increased 19% to $2.63, and adjusted operating income margin rose to 18.0%. The Board declared a quarterly cash dividend of $0.87 per share. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits


Exhibit No.		Exhibit

99.1		The Company’s press release dated October 27, 2026.
104		Cover page Interactive Data File (formatted as Inline XBRL and contained in the Exhibit 101 attachments)

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Ohio		34-1860551
(State or other jurisdiction of incorporation)		(I.R.S. Employer Identification No.)


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading Symbol	Name of exchange on which registered
Common Shares, without par value	LECO	The NASDAQ Stock Market LLC


Item 2.02	Results of Operations and Financial Condition.

	On October 27, 2026, Lincoln Electric Holdings, Inc. (the “Company”) issued a press release reporting its financial results for the quarter ended September 30, 2026. A copy of the Company’s press release issued on October 27, 2026 is attached hereto as Exhibit 99.1 and incorporated herein by reference. The press release is also available through the Company’s website at www.lincolnelectric.com. The information in this Current Report on Form 8-K, including the Exhibit, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

Item 9.01	Financial Statements and Exhibits.

		(d) Exhibits

		99.1 The Company’s press release dated October 27, 2026.
		104 Cover page Interactive Data File (formatted as Inline XBRL and contained in the Exhibit 101 attachments)


	LINCOLN ELECTRIC HOLDINGS, INC.

	/s/ Gabriel Bruno
	Gabriel Bruno
	Executive Vice President, Chief Financial Officer and Treasurer
	(Principal Financial and Accounting Officer)
	October 27, 2026


												Fav (Unfav) to
		Three Months Ended September 30,										Prior Year
		2026			% of Sales		2025			% of Sales		$			%
Net sales		$	1,221,281		100.0	%	$	1,061,227		100.0	%	$	160,054		15.1	%
Cost of goods sold			796,250		65.2	%		671,916		63.3	%		(124,334)		(18.5)	%
Gross profit			425,031		34.8	%		389,311		36.7	%		35,720		9.2	%
Selling, general & administrative expenses			205,802		16.9	%		206,823		19.5	%		1,021		0.5	%
Rationalization and asset impairment net charges			7,853		0.6	%		5,831		0.5	%		(2,022)		(34.7)	%
Operating income			211,376		17.3	%		176,657		16.6	%		34,719		19.7	%
Interest expense, net			11,346		0.9	%		13,648		1.3	%		2,302		16.9	%
Other income			3		—			2,986		0.3	%		(2,983)		(99.9)	%
Income before income taxes			200,033		16.4	%		165,995		15.6	%		34,038		20.5	%
Income taxes			55,687		4.6	%		43,367		4.1	%		(12,320)		(28.4)	%
Effective tax rate			27.8	%				26.1	%				(1.7)	%
Net income		$	144,346		11.8	%	$	122,628		11.6	%	$	21,718		17.7	%

Basic earnings per share		$	2.65				$	2.23				$	0.42		18.8	%
Diluted earnings per share		$	2.63				$	2.21				$	0.42		19.0	%
Weighted average shares (basic)			54,408					55,097
Weighted average shares (diluted)			54,873					55,574


												Fav (Unfav) to
		Nine Months Ended September 30,										Prior Year
		2026			% of Sales		2025			% of Sales		$			%
Net sales		$	3,562,378		100.0	%	$	3,154,288		100.0	%	$	408,090		12.9	%
Cost of goods sold			2,289,219		64.3	%		1,993,982		63.2	%		(295,237)		(14.8)	%
Gross profit			1,273,159		35.7	%		1,160,306		36.8	%		112,853		9.7	%
Selling, general & administrative expenses			641,484		18.0	%		614,349		19.5	%		(27,135)		(4.4)	%
Rationalization and asset impairment net charges			13,497		0.4	%		12,238		0.4	%		(1,259)		(10.3)	%
Operating income			618,178		17.4	%		533,719		16.9	%		84,459		15.8	%
Interest expense, net			37,241		1.0	%		38,394		1.2	%		1,153		3.0	%
Other income			332		—			7,464		0.2	%		(7,132)		(95.6)	%
Income before income taxes			581,269		16.3	%		502,789		15.9	%		78,480		15.6	%
Income taxes			142,022		4.0	%		118,278		3.7	%		(23,744)		(20.1)	%
Effective tax rate			24.4	%				23.5	%				(0.9)	%
Net income		$	439,247		12.3	%	$	384,511		12.2	%	$	54,736		14.2	%

Basic earnings per share		$	8.04				$	6.92				$	1.12		16.2	%
Diluted earnings per share		$	7.97				$	6.86				$	1.11		16.2	%
Weighted average shares (basic)			54,630					55,567
Weighted average shares (diluted)			55,098					56,020


Selected Consolidated Balance Sheet Data		September 30, 2026			December 31, 2025
Cash and cash equivalents		$	283,237		$	308,789
Accounts receivable, net			603,307			538,791
Inventories			699,380			633,364
Total current assets			1,826,187			1,739,512
Property, plant and equipment, net			747,619			702,762
Total assets			3,893,630			3,777,577
Trade accounts payable			463,738			364,934
Total current liabilities ⁽¹⁾			955,713			956,691
Long-term debt, less current portion			1,149,969			1,150,228
Total equity			1,554,721			1,469,794

Operating Working Capital		September 30, 2026			December 31, 2025
Average operating working capital to Net sales ⁽²⁾			16.6	%		17.9	%

Invested Capital		September 30, 2026			December 31, 2025
Short-term debt ⁽¹⁾		$	—		$	143,780
Long-term debt, less current portion			1,149,969			1,150,228
Total debt			1,149,969			1,294,008
Total equity			1,554,721			1,469,794
Invested capital		$	2,704,690		$	2,763,802

Total debt / invested capital			42.5	%		46.8	%


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2026			2025			2026			2025
Operating income as reported	$	211,376		$	176,657		$	618,178		$	533,719
Special items (pre-tax):
Rationalization and asset impairment net charges ⁽²⁾		7,853			5,831			13,497			12,238
Transaction costs ⁽³⁾		765			452			1,433			1,683
Amortization of step up in value of acquired inventories ⁽⁴⁾		—			1,622			—			1,482
Adjusted operating income⁽¹⁾	$	219,994		$	184,562		$	633,108		$	549,122
As a percent of net sales		18.0	%		17.4	%		17.8	%		17.4	%

Net income as reported	$	144,346		$	122,628		$	439,247		$	384,511
Special items:
Rationalization and asset impairment net charges ⁽²⁾		7,853			5,831			13,497			12,238
Transaction costs ⁽³⁾		765			452			1,433			1,683
Amortization of step up in value of acquired inventories ⁽⁴⁾		—			1,622			—			1,482
Tax effect of Special items ^{(5) (6)}		10,669			6,685			9,134			4,772
Adjusted net income⁽¹⁾		163,633			137,218			463,311			404,686
Interest expense, net		11,346			13,648			37,241			38,394
Income taxes as reported		55,687			43,367			142,022			118,278
Tax effect of Special items ^{(5) (6)}		(10,669)			(6,685)			(9,134)			(4,772)
Adjusted EBIT⁽¹⁾	$	219,997		$	187,548		$	633,440		$	556,586

Effective tax rate as reported		27.8	%		26.1	%		24.4	%		23.5	%
Net special item tax impact		(6.2)	%		(5.0)	%		(2.1)	%		(1.6)	%
Adjusted effective tax rate ⁽¹⁾		21.6	%		21.1	%		22.3	%		21.9	%

Diluted earnings per share as reported	$	2.63		$	2.21		$	7.97		$	6.86
Special items per share		0.35			0.26			0.44			0.36
Adjusted diluted earnings per share ⁽¹⁾	$	2.98		$	2.47		$	8.41		$	7.22

Weighted average shares (diluted)		54,873			55,574			55,098			56,020


	Twelve Months Ended September 30,
Return on Invested Capital	2026			2025
Net income as reported	$	575,269		$	524,740
Plus: Interest expense (after-tax)		42,191			43,488
Less: Interest income (after-tax)		4,405			6,181
Net operating profit after taxes	$	613,055		$	562,047
Special Items:
Rationalization and asset impairment net charges		19,458			16,776
Transaction costs		2,489			4,174
Pension settlement net charges (gains)		719			(174)
Amortization of step up in value of acquired inventories		2,482			3,034
Tax effect of Special items ⁽²⁾		9,539			2,117
Adjusted net operating profit after taxes ⁽¹⁾	$	647,742		$	587,974

Invested Capital	September 30, 2026			September 30, 2025
Short-term debt	$	—		$	88,203
Long-term debt, less current portion		1,149,969			1,150,315
Total debt		1,149,969			1,238,518
Total equity		1,554,721			1,414,633
Invested capital	$	2,704,690		$	2,653,151

Return on invested capital as reported		22.7	%		21.2	%
Adjusted return on invested capital ⁽¹⁾		23.9	%		22.2	%


	Three Months Ended						Nine Months Ended September 30,
Cash Conversion	2026			2025			2026			2025
Net cash provided by operating activities	$	215,757		$	236,687		$	571,691		$	566,208
Capital expenditures		(41,219)			(31,636)			(111,819)			(84,028)
Free cash flow ⁽¹⁾	$	174,538		$	205,051		$	459,872		$	482,180

Adjusted net income	$	163,633		$	137,218		$	463,311		$	404,686

Cash conversion ⁽¹⁾		107	%		149	%		99	%		119	%


		Americas			International			The Harris			Corporate /
		Welding			Welding			Products Group			Eliminations			Consolidated
Three months ended September 30, 2026
Net sales		$	801,264		$	226,904		$	193,113		$	—		$	1,221,281
Inter-segment sales			25,959			6,502			3,977			(36,438)			—
Total sales		$	827,223		$	233,406		$	197,090		$	(36,438)		$	1,221,281

Net income														$	144,346
As a percent of total sales															11.8	%

EBIT⁽¹⁾		$	164,935		$	17,742		$	34,063		$	(5,361)		$	211,379
As a percent of total sales			19.9	%		7.6	%		17.3	%					17.3	%
Special items charges ⁽³⁾			1,612			6,224			17			765			8,618
Adjusted EBIT ⁽²⁾		$	166,547		$	23,966		$	34,080		$	(4,596)		$	219,997
As a percent of total sales			20.1	%		10.3	%		17.3	%					18.0	%

Three months ended September 30, 2025
Net sales		$	691,794		$	219,629		$	149,804		$	—		$	1,061,227
Inter-segment sales			30,058			9,830			3,441			(43,329)			—
Total sales		$	721,852		$	229,459		$	153,245		$	(43,329)		$	1,061,227

Net income														$	122,628
As a percent of total sales															11.6	%

EBIT ⁽¹⁾		$	127,240		$	23,059		$	27,762		$	1,582		$	179,643
As a percent of total sales			17.6	%		10.0	%		18.1	%					16.9	%
Special items charges ⁽⁴⁾			4,375			2,762			316			452			7,905
Adjusted EBIT ⁽²⁾		$	131,615		$	25,821		$	28,078		$	2,034		$	187,548
As a percent of total sales			18.2	%		11.3	%		18.3	%					17.7	%


			Change in Net Sales due to:
	Net Sales											Foreign			Net Sales
	2025		Volume			Price			Acquisitions			Exchange			2026
Operating Segments
Americas Welding	$	691,794	$	91,589		$	16,390		$	—		$	1,491		$	801,264
International Welding		219,629		(3,039)			5,287			5,071			(44)			226,904
The Harris Products Group		149,804		4,460			38,469			—			380			193,113
Consolidated	$	1,061,227	$	93,010		$	60,146		$	5,071		$	1,827		$	1,221,281

% Change
Americas Welding				13.2	%		2.4	%		—			0.2	%		15.8	%
International Welding				(1.4)	%		2.4	%		2.3	%		—			3.3	%
The Harris Products Group				3.0	%		25.7	%		—			0.2	%		28.9	%
Consolidated				8.8	%		5.7	%		0.5	%		0.1	%		15.1	%


	Three Months Ended September 30,
	2026		2025
OPERATING ACTIVITIES:
Net income	$	144,346	$	122,628
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization		26,431		24,744
Deferred income taxes		14,024		97,737
Other non-cash items, net		3,011		1,904
Changes in operating assets and liabilities, net of effects from acquisitions:
(Increase) decrease in accounts receivable		(18,011)		61,638
Increase in inventories		(10,854)		(39,574)
Decrease (increase) in other current assets		93		(62,642)
Increase in trade accounts payable		16,890		22,463
Increase in other current liabilities		47,530		9,879
Net change in other long-term assets and liabilities		(7,703)		(2,090)
NET CASH PROVIDED BY OPERATING ACTIVITIES		215,757		236,687

INVESTING ACTIVITIES:
Capital expenditures		(41,219)		(31,636)
Acquisition of businesses, net of cash acquired		—		(104,346)
Proceeds from sale of property, plant and equipment		4,595		1,177
NET CASH USED BY INVESTING ACTIVITIES		(36,624)		(134,805)

FINANCING ACTIVITIES:
Proceeds from short-term borrowings		—		82,884
Payments on long-term borrowings		—		(100,000)
Proceeds from exercise of stock options		2,304		3,667
Purchase of shares for treasury		(99,397)		(52,664)
Cash dividends paid to shareholders		(43,223)		(41,572)
NET CASH USED BY FINANCING ACTIVITIES		(140,316)		(107,685)

Effect of exchange rate changes on Cash and cash equivalents		1,977		(681)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		40,794		(6,484)
Cash and cash equivalents at beginning of period		242,443		299,481
Cash and cash equivalents at end of period	$	283,237	$	292,997

Cash dividends paid per share	$	0.79	$	0.75


		Nine Months Ended September 30,
		2026		2025
OPERATING ACTIVITIES:
Net income		$	439,247	$	384,511
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization			78,409		72,990
Deferred income taxes			32,516		71,395
Other non-cash items, net			15,730		14,002
Changes in operating assets and liabilities, net of effects from acquisitions:
(Increase) decrease in accounts receivable			(66,620)		9,430
Increase in inventories			(71,007)		(87,222)
Decrease (increase) in other current assets			18,242		(66,050)
Increase in trade accounts payable			100,106		90,555
Increase in other current liabilities			36,242		78,458
Net change in other assets and liabilities			(11,174)		(1,861)
NET CASH PROVIDED BY OPERATING ACTIVITIES			571,691		566,208

INVESTING ACTIVITIES:
Capital expenditures			(111,819)		(84,028)
Acquisition of businesses, net of cash acquired			140		(136,655)
Proceeds from sale of property, plant and equipment			5,851		6,408
NET CASH USED BY INVESTING ACTIVITIES			(105,828)		(214,275)

FINANCING ACTIVITIES:
(Payments on) proceeds from short-term borrowings			(143,889)		77,678
Payments on long-term borrowings			—		(100,169)
Proceeds from exercise of stock options			10,863		10,061
Purchase of shares for treasury			(232,189)		(286,488)
Cash dividends paid to shareholders			(130,689)		(126,476)
NET CASH USED BY FINANCING ACTIVITIES			(495,904)		(425,394)

Effect of exchange rate changes on Cash and cash equivalents			4,489		(10,804)
DECREASE IN CASH AND CASH EQUIVALENTS			(25,552)		(84,265)
Cash and cash equivalents at beginning of period			308,789		377,262
Cash and cash equivalents at end of period		$	283,237	$	292,997

Cash dividends paid per share		$	2.37	$	2.25