CLEVELAND (AP) — CLEVELAND (AP) — Lincoln Electric Holdings Inc. (LECO) on Wednesday reported first-quarter profit of $118.5 million.
On a per-share basis, the Cleveland-based company said it had profit of $2.10. Earnings, adjusted for non-recurring costs, came to $2.16 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.
The manufacturer of specialized welding products and other equipment posted revenue of $1 billion in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $975 million.
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