Lincoln Electric Holdings posted record sales in the first quarter of 2022, up 22.2 percent over the same period in 2021 to $925.4 million. Net income was $126.0 million for the quarter, up from $74.2 million in Q1 2021.
“We achieved record first quarter sales, adjusted operating income margin, and adjusted EPS performance despite challenging operating conditions; demonstrating the resilience of our business and the benefits of our strategic initiatives,” said Christopher L. Mapes, chairman, president and CEO, in a prepared statement. “Solid demand trends, diligent execution and productivity offset market headwinds and a difficult prior year comparison. Given dynamic market and supply chain challenges, we continue to monitor conditions and are responding as necessary to ensure Lincoln Electric is well-positioned to advance and generate superior value through this portion of the cycle.”
First quarter 2022 sales included a 22.1 percent increase in organic sales and a 4.6 percent benefit from acquisitions, partially offset by 4.4 perdent unfavorable foreign exchange.
Source: Lincoln Electric
