CLEVELAND (AP) — CLEVELAND (AP) — Lincoln Electric Holdings Inc. (LECO) on Thursday reported fourth-quarter earnings of $136 million.
On a per-share basis, the Cleveland-based company said it had profit of $2.45. Earnings, adjusted for asset impairment costs and amortization costs, were $2.65 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
The manufacturer of specialized welding products and other equipment posted revenue of $1.08 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.09 billion.
For the year, the company reported profit of $520.5 million, or $9.32 per share. Revenue was reported as $4.23 billion.
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