First quarter 2021 sales for Lincoln Electric were $757 million, up 7.8 percent over the same period in 2020. Sales increased 6.4 percent as a result of “organic sales,” the company said.
Adjusted net income for 1Q 2021 was $82.8 million, compared to $60.9 million in the prior year period. Adjusted operating income for the quarter was $109.2 million, or 14.4 percent of sales, as compared with $88.4 million, or 12.6 percent of sales, in the prior year period.
“I am pleased to report record first quarter earnings, which reflect solid execution of our strategic initiatives, cost reduction actions and an accelerated recovery in our end markets,” said Christopher L. Mapes, chairman, president, and CEO. “Our team continued to do an outstanding job safely serving customers while also generating significant improvement in operating profit margin as well as strong ROIC performance in the quarter.”
Source: Lincoln Electric
