Lincoln Electric Holdings Inc. (LECO) shares surged 7.22% in pre-market trading on Thursday, following the company's strong fourth-quarter 2024 results and upbeat outlook.
The Cleveland-based welding products manufacturer reported adjusted earnings of $2.57 per share for the fourth quarter, beating the consensus estimate of $2.01 by a significant margin. Sales for the quarter rose 3.4% year-over-year to $1.02 billion, surpassing expectations of $998.7 million.
The strong performance was driven by robust demand across all segments, particularly in the Americas Welding and The Harris Products Group divisions. Lincoln Electric benefited from pricing actions, acquisitions, and operational improvements, which helped offset the impact of unfavorable foreign exchange rates.
Looking ahead, the company provided an optimistic outlook for 2025, citing continued momentum in key end markets and the expected benefits from recent acquisitions and cost-saving initiatives. Lincoln Electric's management expressed confidence in capitalizing on growth opportunities and delivering superior value for stakeholders.