NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Esab Corp. (ESAB) on Thursday reported first-quarter net income of $67.4 million.
On a per-share basis, the North Bethesda, Maryland-based company said it had profit of $1.10. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The maker of welding and cutting equipment posted revenue of $678.1 million in the period. Its adjusted revenue was $646.9 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $630.6 million.
Esab expects full-year earnings in the range of $5.10 to $5.25 per share.
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