Analyst Consensus ?
ConsensusHold21 ratings
Bullish838.1%
Neutral1361.9%
Bearish00.0%
Lincoln Electric Holdings, Inc. · LECO · FY2025 Q4 · Calendar Q1 2026
Lincoln Electric posts record 2025 results; automation recovery remains key
The call supports a constructive but conditional view: record 2025 results and improving automation order rates underpin the outlook, while the expected recovery and longer-term targets depend on execution and industrial demand.
Reported Before market openNASDAQIndustrials
$15.00B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.65
Consensus $2.54
EPS surprise
+4.3%
Reported versus consensus
Reported revenue
$1.08B
Consensus $1.10B
Revenue surprise
-2.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.9%
Event window
SPY move
-1.5%
Same window
Abnormal move
+3.5%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
-12.7%
Up to 20 sessions
LECOSPY benchmark
Ask FN2 about LECO FY2025 Q4
Transcript, numbers and history already loaded
Why did LECO rise 1.9% after beating EPS estimates in FY2025 Q4?What changed in LECO's guidance and outlook in FY2025 Q4?Give me the bull and bear case for LECO after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The annual call moves the focus from the prior quarter’s lagging automation sales and anticipated sequential improvement to management’s view that automation should pick up in 2026, with volume growth from Q2 onward. Management also laid out the RISE strategy and 2030 targets, and identified the Enrotech techquisition as an autonomous welding solution initiative.
Guidance delta
The supplied analysis characterizes guidance sentiment as maintained. Management expects automation to pick up in 2026, with volume growth from Q2 onward; the supplied analysis does not indicate a change to formal guidance.
Key takeaways
- Lincoln Electric reported record 2025 sales of $4.2 billion, up 6%, and record adjusted EPS of $9.87, according to the supplied call analysis.
- Automation sales declined year over year, but order rates improved; management expects a pickup in 2026 and volume growth from Q2 onward.
- The RISE strategy sets priorities around organizational changes and innovation, alongside 2030 targets for revenue, operating margin and cash flow.
Management priorities
- Implement RISE, including center-led functions and emphasis on innovation, service and talent development.
- Expand automation and work toward making it non-dilutive; grow the alloy steel business and pursue additional techquisitions.
- Invest $110–130 million annually in safety, productivity and growth projects while maintaining dividends and share repurchases.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$276.92Current
$232Low
$303.47Average
$360High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Oct 29, 2026 |
| UBS | Buy | Buy | Maintain | Oct 28, 2026 |
| Stifel | Hold | Hold | Maintain | Oct 28, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 28, 2026 |
| Baird | Outperform | Outperform | Maintain | Oct 28, 2026 |
| Jefferies | Hold | Buy | Downgrade | Mar 31, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Feb 13, 2026 |
| Roth Capital | Buy | Buy | Maintain | Feb 3, 2026 |
| Loop Capital | Buy | Buy | Maintain | May 24, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Apr 29, 2024 |
| Seaport Global | Buy | Neutral | Upgrade | Oct 31, 2023 |
| Vertical Research | Hold | Sell | Upgrade | Apr 28, 2021 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Oct 9, 2019 |
| Gabelli & Co. | Buy | Hold | Upgrade | Oct 26, 2018 |
| Longbow Research | Neutral | Underperform | Upgrade | Feb 15, 2017 |
| Northcoast Research | Neutral | Buy | Downgrade | Nov 15, 2016 |
| Wellington Shields | Hold | Gradually Accumulate | Downgrade | Aug 24, 2016 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jun 23, 2015 |
| BB&T Capital | Hold | Buy | Downgrade | Mar 10, 2015 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Sep 27, 2013 |
| Janney Capital | Neutral | Buy | Downgrade | Sep 27, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $276.92. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| D.A. Davidson | Analyst unavailable | $340 | $283.1 | +22.8% | Oct 29, 2026 |
| Barclays | Analyst unavailable | $350 | $280.59 | +26.4% | Oct 29, 2026 |
| UBS | Analyst unavailable | $360 | $283.64 | +30.0% | Oct 28, 2026 |
| Stifel Nicolaus | Analyst unavailable | $290 | $282.37 | +4.7% | Oct 28, 2026 |
| Robert W. Baird | Analyst unavailable | $322 | $282.37 | +16.3% | Oct 28, 2026 |
| Stifel Nicolaus | Analyst unavailable | $271 | $262.1 | -2.1% | Oct 19, 2026 |
| UBS | Analyst unavailable | $340 | $277.33 | +22.8% | Aug 10, 2026 |
| Morgan Stanley | Angel Castillo | $283 | $281.96 | +2.2% | Aug 10, 2026 |
| D.A. Davidson | Chris Dankert | $320 | $267.86 | +15.6% | Jun 15, 2026 |
| Barclays | Adam Seiden | $300 | $262.06 | +8.3% | May 5, 2026 |
| Morgan Stanley | Analyst unavailable | $250 | $267.24 | -9.7% | May 4, 2026 |
| Stifel Nicolaus | Nathan Jones | $275 | $265 | -0.7% | May 1, 2026 |
| Seaport Global | Analyst unavailable | $320 | $289.74 | +15.6% | Feb 17, 2026 |
| Morgan Stanley | Analyst unavailable | $240 | $289.28 | -13.3% | Feb 17, 2026 |
| Robert W. Baird | Mircea Dobre | $330 | $295.28 | +19.2% | Feb 13, 2026 |
| Stifel Nicolaus | Analyst unavailable | $300 | $296.14 | +8.3% | Feb 13, 2026 |
| KeyBanc | Steve Barger | $340 | $296.14 | +22.8% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $310 | $296.14 | +11.9% | Feb 13, 2026 |
| Roth Capital | Tom Hayes | $297 | $270.8 | +7.3% | Feb 3, 2026 |
| Barclays | Adam Seiden | $280 | $257.42 | +1.1% | Jan 23, 2026 |
| Stifel Nicolaus | Analyst unavailable | $253 | $257.98 | -8.6% | Jan 23, 2026 |
| Morgan Stanley | Angel Castillo | $208 | $250.01 | -24.9% | Jan 12, 2026 |
| Stifel Nicolaus | Nathan Jones | $252 | $242.54 | -9.0% | Dec 16, 2025 |
| Roth Capital | Analyst unavailable | $285 | $236.1 | +2.9% | Oct 31, 2025 |
| Barclays | Analyst unavailable | $260 | $235.02 | -6.1% | Oct 20, 2025 |
| Stifel Nicolaus | Nathan Jones | $178 | $179.95 | -35.7% | Apr 14, 2025 |
| KeyBanc | Steve Barger | $230 | $210.53 | -16.9% | Nov 14, 2024 |
| Stifel Nicolaus | Nathan Jones | $185 | $192.2 | -33.2% | Oct 16, 2024 |
| KeyBanc | Steve Barger | $210 | $175.89 | -24.2% | Sep 4, 2024 |
| Robert W. Baird | Mircea Dobre | $212 | $175.21 | -23.4% | Sep 4, 2024 |
| Loop Capital Markets | Chris Dankert | $265 | $205.57 | -4.3% | May 24, 2024 |
| Robert W. Baird | Mircea Dobre | $236 | $207.06 | -14.8% | May 23, 2024 |
| Robert W. Baird | Mircea Dobre | $252 | $227.93 | -9.0% | Apr 25, 2024 |
| Stifel Nicolaus | Nathan Jones | $241 | $239.51 | -13.0% | Apr 17, 2024 |
| Loop Capital Markets | Steve Barger | $232 | $194.31 | -16.2% | Jun 28, 2023 |
| Robert W. Baird | Mircea Dobre | $152 | $139.91 | -45.1% | Oct 27, 2022 |
| Morgan Stanley | Analyst unavailable | $136 | $141.14 | -50.9% | Aug 1, 2022 |
| Robert W. Baird | Mircea Dobre | $150 | $136.58 | -45.8% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $126 | $123.09 | -54.5% | Jul 18, 2022 |
| Stifel Nicolaus | Nathan Jones | $122 | $122.65 | -55.9% | Jul 18, 2022 |
| Morgan Stanley | Analyst unavailable | $150 | $137.3 | -45.8% | Apr 29, 2022 |
Track every rating change on LECO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationLincoln Electric Holdings, Inc., an enterprise established in Cleveland, Ohio, in 1895, operates globally, focusing on the innovation, production, and sale of equipment and materials for welding, cutting, and brazing applications. The company is organized into three distinct divisions: Americas Welding, International Welding, and The Harris Products Group. Its extensive product portfolio encompasses a broad spectrum of welding machinery, including arc welding power sources, plasma cutters, wire feeding systems, automated robotic welding setups, comprehensive automation solutions, and fume extraction devices. Additionally, Lincoln Electric provides a variety of consumables such as electrodes, fluxes, various welding accessories, and specialized welding and fabrication materials.…
Historical context
All LECO earningsIndustrials peers this season
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|---|---|---|---|---|
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| MTZ MasTec, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +0.8% | MasTec posts record Q3 as power and data-center demand accelerates |
| IR Ingersoll Rand Inc. | FY2026 Q3 · Calendar Q4 2026 | +18.5% | +0.2% | Ingersoll Rand raises FY2026 outlook as orders accelerate |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T21:30:44.156387+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T21:30:44.153461+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.