Financial Performance - Net sales for 2022 increased to $3,761,211, a 16.3% increase from $3,234,180 in 2021[109] - Gross profit for 2022 was $1,280,760, representing 34.1% of sales, up from 33.0% in 2021, with a $212,155 increase year-over-year[109] - Operating income rose to $612,336 in 2022, a 32.6% increase compared to $461,669 in 2021[109] - Net income for 2022 was $472,224, a significant increase of 70.7% from $276,580 in 2021[109] - Consolidated net income rose by 70.8% to $472,224 in 2022 compared to $276,466 in 2021[119] - Adjusted EBIT for the consolidated entity increased by 29.7% to $636,951 in 2022 from $491,268 in 2021[119] - Adjusted diluted earnings per share increased to $8.27 in 2022 from $6.22 in 2021[128] Tax and Debt - The effective tax rate for 2022 was 20.3%, up from 14.9% in 2021, primarily due to a change in the mix of earnings[115] - The effective tax rate as reported was 20.3% in 2022, compared to 14.9% in 2021[128] - The total amount of debt outstanding as of December 31, 2022, was $1,203,879, an increase from $769,819 in 2021[142] - The Company’s total weighted average effective interest rate is 3.3%, with a remaining weighted average term of 11.4 years[144] - The Company entered into a term loan of $400,000 on November 29, 2022, maturing on November 29, 2025[147] - As of December 31, 2022, the Company had $45,000 of outstanding borrowings under its revolving credit agreement[145] - The Company had $1,118,336 in long-term debt, including the current portion, as of December 31, 2022[153] - The Company was in compliance with all debt covenants as of December 31, 2022[145] Segment Performance - The Americas Welding segment reported net sales of $2,288,934, a 25.5% increase from the previous year, driven by higher demand and product pricing[116] - International Welding segment net sales were $954,281, reflecting a slight increase of 0.6% despite unfavorable foreign exchange impacts[116] - Americas Welding net sales increased by 25.5% to $2,288,934 in 2022 from $1,824,481 in 2021[119] Cash Flow and Investments - Cash provided by operating activities increased by $18,323 to $383,386 in 2022 from $365,063 in 2021[135] - Cash used by investing activities rose significantly by $299,335 to $(504,691) in 2022 from $(205,356) in 2021, primarily due to acquisitions[135] - The company anticipates capital expenditures of $80,000 to $100,000 in 2023 to enhance capacity and operational effectiveness[137] Working Capital and Dividends - Average operating working capital to net sales increased to 20.9% in 2022 from 16.3% in 2021[139] - The company paid cash dividends of $130,724 in 2022, reflecting a 14.3% increase in the dividend payout rate[136] Investments and Expenses - The Company continues to invest in research and development to maintain its market-leading position in arc welding products[97] - The total stock-based compensation expense recognized in 2022 was $25,276, compared to $23,787 in 2021[158] - The Company's defined benefit plan expense was $(2,280) million in 2022, a significant decrease from $124,929 million in 2021, while defined contribution plan expense increased to $29,569 million in 2022 from $26,281 million in 2021[177] - The Company expects total 2023 expense related to retirement plans to increase by approximately $500 million to $1,500 million, excluding settlement charges[177] Financial Risk Management - The Company manages financial market risks, including currency exchange rates, commodity prices, and interest rates, using derivative financial instruments[194] - The gross notional dollar amount of foreign exchange contracts at December 31, 2022, was $66,296 million, with a hypothetical 10% change in the U.S. dollar potentially affecting accumulated other comprehensive income (loss) by $284 million[197] - The notional amount of commodity hedging contracts was 875,000 pounds at December 31, 2022, with a hypothetical 10% price change resulting in a value change of $319 million[200] - The gross notional dollar value of interest rate forward starting swap agreements was $100,000 million at December 31, 2022, with a hypothetical 100 basis point increase in effective interest rates potentially changing accumulated other comprehensive income (loss) by $7,584 million[201] Other Financial Metrics - The adjusted return on invested capital (ROIC) for 2022 was 22.7%, down from 23.9% in 2021[151] - The Company’s invested capital as of December 31, 2022, was $2,237,920, up from $1,633,728 in 2021[151] - The accumulated other comprehensive loss, excluding tax effects, decreased to $3,759 million as of December 31, 2022, down from $16,173 million as of December 31, 2021[178] - The excess of current cost over LIFO cost was $133,909 million at December 31, 2022, compared to $114,176 million at December 31, 2021[180] Revenue Recognition - The Company recognizes revenue primarily when control of the product is transferred to the customer, with less than 10% of net sales recognized over time[191]

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q4 2022 Earnings Conference Call February 21, 2023 10:00 AM ET Company Participants Amanda Butler - Vice President of 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 Saree Boroditsky - Jefferies Bryan Blair - Oppenheimer Mig Dobre - Baird Adam Farley - Stifel Dillon Cumming - Morgan Stanley Steve Barger - K ...

Q4 & Full Year 2022 Earnings Forward-Looking Statements: Non-GAAP Measures: 2 $383M February 21, 2023 LINCOLN ELECTRIC HOLDINGS, INC. Safe Harbor and Regulation G Disclosures Our management uses non-GAAP financial measures in assessing and evaluating the Company's performance, which exclude items we consider unusual or special items. We believe the use of such financial measures and information may be useful to investors. Non-GAAP financial measures should be read in conjunction with the GAAP financial meas ...

October 27, 2022 Lincoln Electric Holdings, Inc. Overview Virtual Nondeal Roadshow May 3, 2021 Gabe Bruno EVP & Chief Financial Officer LINCOLN ELECTRIC HOLDINGS, INC. Q3 2022 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 express ...

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, 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. (State or other jurisdiction of incorporation or orga ...

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Amanda Butler - VP, IR & Communications Christopher Mapes - Chairman, President & CEO Steven Hedlund - EVP & COO Gabriel Bruno - EVP, CFO & Treasurer Conference Call Participants Bryan Blair - Oppenheimer Walter Liptak - Seaport Joseph Grabowski - Robert W. Baird & Co. Robert Barger - KeyBanc Capital Markets Adam Farley - Stifel, Nicolaus & Company Dillon Cumming - Morgan Stanley ...

September 15, 2022 LINCOLN ELECTRIC HOLDINGS, INC. Overview Lincoln Electric Holdings, Inc. Overview Virtual Nondeal Roadshow May 3, 2021 Gabe Bruno EVP & Chief Financial Officer 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 ...

August 10, 2022 LINCOLN ELECTRIC HOLDINGS, INC. Overview Lincoln Electric Holdings, Inc. Overview Virtual Nondeal Roadshow May 3, 2021 Gabe Bruno EVP & Chief Financial Officer 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 imp ...

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q2 2022 Earnings Conference Call July 28, 2022 10:00 AM ET Company Participants Amanda Butler - VP, IR and Communications Christopher Mapes - Chairman, President and CEO Gabriel Bruno - CFO Steven Hedlund - COO Conference Call Participants Saree Boroditsky - Jefferies Bryan Blair - Oppenheimer Joe Grabowski - Baird Chris Dankert - Loop Capital Adam Farley - Stifel Chris Dankert - Loop Capital Steve Barger - KBCM Operator Greetings, and welcome to the Lincoln Ele ...

July 28, 2022 Lincoln Electric Holdings, Inc. Overview Virtual Nondeal Roadshow May 3, 2021 Gabe Bruno EVP & Chief Financial Officer LINCOLN ELECTRIC HOLDINGS, INC. Q2 2022 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 ...