Analyst Consensus ?
ConsensusHold20 ratings
Bullish735.0%
Neutral1365.0%
Bearish00.0%
Lincoln Electric Holdings, Inc. · LECO · FY2026 Q2 · Calendar Q3 2026
Lincoln Electric raises sales outlook as automation and Americas demand strengthen
The quarter provides evidence of resilient industrial demand and earnings momentum through Americas volume growth, automation, and a raised sales outlook. The key test is whether price-cost neutrality and planned margin improvement persist after tariff-related benefits and amid geopolitical and commodity risks.
Reported Before market openNASDAQIndustrials
$15.39B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.93
Consensus $2.81
EPS surprise
+4.3%
Reported versus consensus
Reported revenue
$1.22B
Consensus $1.17B
Revenue surprise
+4.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.0%
Event window
SPY move
+1.7%
Same window
Abnormal move
-4.7%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+15.8%
Up to 20 sessions
LECOSPY benchmark
Ask FN2 about LECO FY2026 Q2
Transcript, numbers and history already loaded
Why did LECO fall 3.0% after beating EPS estimates in FY2026 Q2?What changed in LECO's guidance and outlook in FY2026 Q2?Give me the bull and bear case for LECO after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management moved from a cautious tone to a more confident stance, raised the full-year sales outlook, and reported stronger cash generation. Automation and Americas demand remained central, while tariff effects, LIFO timing, and the Middle East conflict added new or more explicit areas of investor focus.
Guidance delta
Raised: full-year net-sales growth outlook moved to low double-digit; price-cost neutrality is expected in the second half.
Key takeaways
- Q2 sales rose 12% to $1.22 billion, led by Americas volume growth and automation.
- Management described price-cost neutrality as an H2 objective while margins benefited from tariff refunds.
- Record operating cash flow and shareholder returns supported the quarter, but trade policy and Middle East exposure remain risks.
Management priorities
- Execute the RISE 2030 productivity, SG&A, and commercial-effectiveness initiatives.
- Support the automation backlog while expanding transportation and automotive sales.
- Maintain capital spending near current levels and continue returning capital to shareholders.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$282.37Previous close
$232Low
$294.53Average
$340High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 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 |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Underweight | Upgrade | Aug 10, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 5, 2026 |
| Stifel | Hold | Hold | Maintain | Apr 8, 2026 |
| Jefferies | Hold | Buy | Downgrade | Mar 31, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Feb 13, 2026 |
| Roth Capital | Buy | Buy | Maintain | Feb 3, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 1, 2025 |
| 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 previous close $282.37. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stifel Nicolaus | Analyst unavailable | $271 | $262.1 | -4.0% | Oct 19, 2026 |
| UBS | Analyst unavailable | $340 | $277.33 | +20.4% | Aug 10, 2026 |
| Morgan Stanley | Angel Castillo | $283 | $281.96 | +0.2% | Aug 10, 2026 |
| D.A. Davidson | Chris Dankert | $320 | $267.86 | +13.3% | Jun 15, 2026 |
| Barclays | Adam Seiden | $300 | $262.06 | +6.2% | May 5, 2026 |
| Morgan Stanley | Analyst unavailable | $250 | $267.24 | -11.5% | May 4, 2026 |
| Stifel Nicolaus | Nathan Jones | $275 | $265 | -2.6% | May 1, 2026 |
| Seaport Global | Analyst unavailable | $320 | $289.74 | +13.3% | Feb 17, 2026 |
| Morgan Stanley | Analyst unavailable | $240 | $289.28 | -15.0% | Feb 17, 2026 |
| Robert W. Baird | Mircea Dobre | $330 | $295.28 | +16.9% | Feb 13, 2026 |
| Stifel Nicolaus | Analyst unavailable | $300 | $296.14 | +6.2% | Feb 13, 2026 |
| KeyBanc | Steve Barger | $340 | $296.14 | +20.4% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $310 | $296.14 | +9.8% | Feb 13, 2026 |
| Roth Capital | Tom Hayes | $297 | $270.8 | +5.2% | Feb 3, 2026 |
| Barclays | Adam Seiden | $280 | $257.42 | -0.8% | Jan 23, 2026 |
| Stifel Nicolaus | Analyst unavailable | $253 | $257.98 | -10.4% | Jan 23, 2026 |
| Morgan Stanley | Angel Castillo | $208 | $250.01 | -26.3% | Jan 12, 2026 |
| Stifel Nicolaus | Nathan Jones | $252 | $242.54 | -10.8% | Dec 16, 2025 |
| Roth Capital | Analyst unavailable | $285 | $236.1 | +0.9% | Oct 31, 2025 |
| Barclays | Analyst unavailable | $260 | $235.02 | -7.9% | Oct 20, 2025 |
| Stifel Nicolaus | Nathan Jones | $178 | $179.95 | -37.0% | Apr 14, 2025 |
| KeyBanc | Steve Barger | $230 | $210.53 | -18.5% | Nov 14, 2024 |
| Stifel Nicolaus | Nathan Jones | $185 | $192.2 | -34.5% | Oct 16, 2024 |
| KeyBanc | Steve Barger | $210 | $175.89 | -25.6% | Sep 4, 2024 |
| Robert W. Baird | Mircea Dobre | $212 | $175.21 | -24.9% | Sep 4, 2024 |
| Loop Capital Markets | Chris Dankert | $265 | $205.57 | -6.2% | May 24, 2024 |
| Robert W. Baird | Mircea Dobre | $236 | $207.06 | -16.4% | May 23, 2024 |
| Robert W. Baird | Mircea Dobre | $252 | $227.93 | -10.8% | Apr 25, 2024 |
| Stifel Nicolaus | Nathan Jones | $241 | $239.51 | -14.7% | Apr 17, 2024 |
| Loop Capital Markets | Steve Barger | $232 | $194.31 | -17.8% | Jun 28, 2023 |
| Robert W. Baird | Mircea Dobre | $152 | $139.91 | -46.2% | Oct 27, 2022 |
| Morgan Stanley | Analyst unavailable | $136 | $141.14 | -51.8% | Aug 1, 2022 |
| Robert W. Baird | Mircea Dobre | $150 | $136.58 | -46.9% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $126 | $123.09 | -55.4% | Jul 18, 2022 |
| Stifel Nicolaus | Nathan Jones | $122 | $122.65 | -56.8% | Jul 18, 2022 |
| Morgan Stanley | Analyst unavailable | $150 | $137.3 | -46.9% | 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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PCAR PACCAR Inc | FY2026 Q3 · Calendar Q4 2026 | 0.0% | -0.6% | PACCAR posts strong Q3 as supply constraints limit deliveries |
| WSO Watsco, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.0% | -1.4% | Watsco posts record Q3 sales while margin risks remain |
| HUBB Hubbell Incorporated | FY2026 Q3 · Calendar Q4 2026 | +2.8% | -5.5% | Hubbell raises outlook as data-center demand accelerates |
| AIT Applied Industrial Technologies, Inc. | FY2027 Q1 · Calendar Q4 2026 | +2.8% | -8.3% | AIT raises FY27 EPS outlook as Engineered Solutions leads growth |
| BA The Boeing Company | FY2026 Q3 · Calendar Q4 2026 | -33.4% | -10.7% | Boeing highlights record backlog, defense wins and production ramp |
| XYL Xylem Inc. | FY2026 Q3 · Calendar Q4 2026 | -0.7% | -14.2% | Xylem lowers revenue outlook as orders and backlog strengthen |
Latest beats and misses
Who reports nextBeat on EPS
- HOODFY2026 Q3 · October 27, 2026+7.5% EPS+1.9% move
- PCARFY2026 Q3 · October 27, 20260.0% EPS-0.6% move
- VFY2026 Q4 · October 27, 2026+1.2% EPS-0.6% move
- FCXFY2026 Q3 · October 27, 2026+8.0% EPS+1.2% move
- HUBBFY2026 Q3 · October 27, 2026+2.8% EPS-5.5% move
- RCLFY2026 Q3 · October 27, 2026+3.0% EPS+5.5% move
Missed on EPS
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
- AREFY2026 Q3 · October 26, 2026-13401.8% EPS-5.9% move
Get the LECO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-14T15:16:42.077049+00:00
- FN2 earnings calendar · 2026-09-04T01:23:15.205020+00:00
- Polygon adjusted daily market bars · 2026-10-28T08:00:41.531216+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T08:00:41.528424+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 2026-10-28. For educational purposes only; not investment advice.