The 2020 Mid-Year Economic Update_long

Lincoln Electric Sales Down 16.3% in 1Q

Profit decreases 21.5 percent in first quarter.

Lincoln Electric Holdings Inc. (NASDAQ: LECO), Cleveland, OH, reported sales for the first quarter of $550.7 million, a 16.3 percent decrease from the previous year. Profit decreased 21.5 percent to $53.6 million.

" While volumes continued to compress on weak industrial demand and challenging year-over-year comparisons, cost reduction actions and solid execution of our operational and commercial initiatives significantly mitigated the impact of year-over-year declines," said Christopher Mapes, president and CEO. 

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By :