Illinois Tool Works Inc. (NYSE:ITW) is included among the 16 Best Dividend Stocks with Rising Payouts. Barclays Raises Illinois Tool Works (ITW) Price Target, Sees “Some Encouragement” in Outlook On February 9, Barclays analyst Julian Mitchell raised his price target on Illinois Tool Works Inc. (NYSE:ITW) to $275 from $244. The analyst reiterated an Underweight rating on the stock. He said the company’s outlook showed “some encouragement,” pointing to a few positive signs despite the cautious rating. E ...

Core Insights - Lincoln Educational Services Corporation is opening a new campus in Houston, Texas, on February 18, 2026, focusing on career training in four growing industries: automotive, welding, electrical, and HVAC [1][2] - The Houston campus is expected to contribute to filling over 240,000 job openings projected in these fields across Texas by 2032 [1][7] - The campus aims to address skills gaps in the workforce and enhance career opportunities for graduates, reinforcing Lincoln Tech's long-standing presence in Texas since 1966 [2][6] Company Overview - Lincoln Educational Services Corporation has been a leader in specialized technical training for 80 years, providing career-oriented programs in transportation, healthcare, skilled trades, and information technology [8][9] - The company operates 22 campuses across 12 states under three brands: Lincoln College of Technology, Lincoln Technical Institute, and Nashville Auto-Diesel College [9] Training Facilities - The Houston campus features fully equipped labs and shops designed to replicate real-world conditions, preparing students for immediate entry into the workforce with the necessary technical expertise [5][6] - Programs offered include Automotive Service, Electrical & Electronics, HVAC, and Welding, all tailored to meet industry demands [5][11]

LINCOLN ELECTRIC HOLDINGS, INC. Lincoln Electric Holdings, Inc. Q4 & FullYear 2025 Earnings & 2030 Targets Q4 & FY2025 Earnings & 2030 Targets February 12, 2026 February 12, 2026 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 ...

Core Viewpoint - Lincoln Electric Holdings (NASDAQ: LECO) has declared a quarterly dividend increase of 5.3% to $0.79 per share, marking its 30th consecutive year of dividend growth, supported by strong financial metrics and a healthy payout ratio [2][8]. Financial Performance - The annual dividend is $3.04 per share, with a current yield of 1.23% [3]. - The earnings payout ratio is 32.6%, indicating a healthy balance between dividends and retained earnings for reinvestment [4][6]. - In Q3 2025, Lincoln Electric generated $205.1 million in free cash flow, with a free cash flow payout ratio below 50%, demonstrating strong cash generation capabilities [5][6]. Debt and Balance Sheet - Total debt increased by 13.8% year over year to $1.32 billion, primarily due to the Alloy Steel acquisition [8][9]. - Net debt stands at $939 million after accounting for $377 million in cash, with a net debt to EBITDA ratio of 1.15x, indicating manageable leverage despite an upward trend from 0.91x in 2023 [9][10]. - The debt-to-equity ratio is 0.99, and total liabilities rose by 14.8% year over year, suggesting increased financial obligations [10].

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Financial Performance Highlights - Net sales reached $1061.2 million, an increase of 7.9% year-over-year[8, 16] - Organic sales grew by 6%[8] - Adjusted EPS increased by 15% to $2.47[9, 16] - Cash flow from operations increased by 19% to $237 million, with a 149% cash conversion rate[8] - Returns to shareholders totaled $94 million, including $42 million in dividends and $53 million in share repurchases[11] Margin and Profitability - Adjusted operating income margin increased slightly by 10 bps to 17.4%[8, 16] - Adjusted ROIC performance increased by 80 bps to 22.2%[8] - Gross profit margin increased by 90 bps to 36.7%[16] Segment Performance - Americas Welding segment net sales increased by 8.6% year-over-year to $691.8 million[18] - International Welding segment net sales increased by 1.6% year-over-year to $219.6 million, with adjusted EBIT margin increasing by 230 bps to 11.3%[21] - The Harris Products Group net sales increased by 14.8% year-over-year to $149.8 million, with adjusted EBIT margin increasing by 190 bps to 18.3%[24] Sales Mix and End Sector Performance - Overall sales growth was driven by price increases of 7.8%, partially offset by a volume decrease of 2.2%[17] - Consumables sales increased by low-teens percent, while equipment sales increased by mid-single-digit percent[14] - Automation sales decreased by low double-digit percent[14] Full Year 2025 Assumptions - The company anticipates low-single-digit organic sales growth[37] - Expects a neutral price/cost environment[37] - Projects adjusted operating income margin to be steady to up slightly[37]

Core Insights - Lincoln Electric reported a strong performance in Q3 2025, with net income of $122.6 million, or diluted EPS of $2.21, reflecting a year-over-year increase from $100.8 million, or $1.77 EPS in the prior year [1][4][21] - The company achieved adjusted net income of $137.2 million, or $2.47 adjusted EPS, compared to $122.4 million, or $2.14 adjusted EPS in the same quarter last year [1][21] - Sales for Q3 2025 increased by 7.9% to $1,061.2 million, driven by a 5.6% rise in organic sales and a 1.7% contribution from acquisitions [3][21] Financial Performance - Operating income for Q3 2025 was $176.7 million, representing 16.6% of sales, up from $145.6 million, or 14.8% of sales in the prior year [3][21] - Adjusted operating income was $184.6 million, or 17.4% of sales, compared to $169.8 million, or 17.3% of sales in the previous year [3][21] - For the nine months ended September 30, 2025, net income was $384.5 million, or $6.86 EPS, an increase from $325.9 million, or $5.68 EPS in the prior year [4][5][21] Cash Flow and Shareholder Returns - Cash flows from operations reached $237 million in Q3 2025, with a cash conversion rate of 149% [7][24] - The company returned $94 million to shareholders through dividends and share repurchases [7] - A quarterly cash dividend of $0.79 per share was declared, marking a 5.3% increase from the previous dividend [6][21] Balance Sheet Highlights - As of September 30, 2025, total assets were $3.82 billion, with total equity at $1.41 billion [14][22] - Cash and cash equivalents decreased to $293 million from $377 million at the end of 2024 [14][22] - Total debt was reported at $1.24 billion, with a total debt to invested capital ratio of 46.7% [14][22]

Financial Data and Key Metrics Changes - Sales rose 8% to $687 million, with organic sales increasing 2% year-over-year, reflecting solid sequential improvement in the Americas and continued strength in EMEA and APAC [3][4] - Adjusted EBITDA increased 7% to $133 million, with a slight reduction in adjusted EBITDA margin by about 20 basis points due to the impact of the EWM acquisition [4][11] - Free cash flow conversion exceeded 100% this quarter, driven by strong team performance [13] Business Line Data and Key Metrics Changes - In the Americas, total sales increased with mid-single-digit growth in the U.S., while equipment and automation also grew mid-single digits [7][11] - EMEA and APAC delivered volume growth of 4%, supported by strong execution in high-growth markets and high single-digit growth in equipment and automation [8][12] - The EWM acquisition contributed approximately 2 points of growth and roughly $1 million in adjusted EBITDA within Q3 results [10] Market Data and Key Metrics Changes - The U.S. market showed mid-single-digit growth, while Mexico remained stable and South America performed in line with expectations [7][11] - EMEA sales grew 14% year-over-year to $395 million, driven by growth in Asia, India, and the Middle East [12] Company Strategy and Development Direction - The company is raising its full-year guidance, expecting total sales of $2.71 billion to $2.73 billion, reflecting around 1% organic growth and contributions from the EWM acquisition [14] - The strategy includes a shift towards equipment and gas control, aiming for EBITDA margins of 22% or more by 2028 [16] - The company is committed to integrating AI into its EBX initiatives to enhance productivity and performance [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its strategy and deliver long-term shareholder value, highlighting a robust pipeline of productivity and transformational projects [4][16] - The management noted that the fourth quarter started positively, with expectations for improved core growth compared to Q3 [53] Other Important Information - The company completed four acquisitions this year, including EWM, which enhances its equipment and automation portfolios [16] - The company is focused on reducing net leverage to one to two times and positioning for accelerated M&A activity in 2026 [13] Q&A Session Summary Question: Sequential improvement in Americas and concerns about deferred automation shipments - Management indicated there was some catch-up but emphasized good execution and stability in Mexico, with positive momentum in the U.S. market [22][23] Question: Strategic fit of EWM and year-one deal model - Management highlighted strong gross margins for EWM and the importance of investing in growth initiatives to drive sales [24][25][26] Question: EBITDA margin decline in the Americas - Management expected the decline and attributed it to investments in sales initiatives and tariff impacts, with confidence in margin expansion for 2026 [30][31] Question: Margin improvement expectations for 2026 - Management outlined three factors for margin improvement: pricing adjustments, tariff-based movements, and ongoing restructuring initiatives [36][37] Question: EMEA and APAC segment performance - Management noted strong orders in high-growth markets and significant share gains in Europe, with expectations for continued momentum [40][41] Question: EWM's legacy distribution and integration - Management described the distribution as complementary, with opportunities to leverage EWM's product lines through ESAB's global network [44][45] Question: Fourth quarter performance expectations - Management indicated a positive start to Q4, expecting core growth to improve from Q3 levels [52][53]

Core Insights - Illinois Tool Works Inc. (ITW) is set to release its third-quarter 2025 results on October 24, with a consensus estimate for revenues at $4.08 billion, reflecting a 2.9% increase year-over-year, and adjusted earnings expected at $2.69 per share, indicating a 1.5% rise from the previous year [1][2][11] Revenue Segment Analysis - The Food Equipment segment is anticipated to see a revenue increase of 3.7% year-over-year to $701.9 million, driven by growth in institutional, restaurant, and food retail markets in North America, along with strong demand in Europe [3] - The Welding segment is expected to grow by 4.3% year-over-year to $481.8 million, supported by higher demand in the Asia Pacific and Middle East markets [4] - The Specialty Products segment is projected to increase by 2.8% year-over-year to $450.3 million, fueled by strong performance in ground support equipment, consumer packaging, and specialty films [5] - The Automotive OEM segment is forecasted to grow by 4.4% year-over-year to $805.8 million, benefiting from increased auto build rates and strength in the electric vehicle market in China [6] - The Polymers & Fluids segment is expected to see a modest revenue increase of 1% year-over-year to $452.4 million, despite challenges from lower demand in North America and Europe [7] - The Test & Measurement and Electronics segment is projected to grow by 2.3% year-over-year to $712.9 million, aided by demand in the semiconductor market [8] - The Construction Products segment is anticipated to decline by 0.5% year-over-year to $476.5 million due to lower demand in commercial and residential markets [9] Margin and Profitability Insights - ITW's gross margin is expected to increase by 40 basis points to 44.2% in the second quarter, supported by effective cost management and enterprise initiatives [9] - The company's significant international operations may face foreign currency headwinds, potentially impacting profitability [10] Earnings Prediction - ITW has an Earnings ESP of +0.35%, with the most accurate estimate at $2.70 per share, suggesting a likelihood of an earnings beat [12][13]

Core Viewpoint - Lincoln Electric is a global leader in welding, demonstrating strong margin performance in a dynamic environment, with expectations for long-term earnings growth driven by automation and capital deployment strategies [2]. Group 1 - Lincoln Electric has recently reported a strong margin performance quarter [2]. - The company is positioned to compound earnings over the long term due to its strong position in automation [2]. - Capital deployment strategies are expected to further enhance the company's financial performance [2].