NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Esab Corp. (ESAB) on Thursday reported first-quarter profit of $47.6 million.
On a per-share basis, the North Bethesda, Maryland-based company said it had net income of 78 cents. Earnings, adjusted for one-time gains and costs, were $1.31 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The maker of welding and cutting equipment posted revenue of $745.6 million in the period. Its adjusted revenue was $714.5 million, beating Street forecasts. Four analysts surveyed by Zacks expected $701.4 million.
Esab expects full-year earnings in the range of $5.70 to $5.90 per share, with revenue expected to be $2.7 billion.
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