The 2020 Mid-Year Economic Update_long

Lincoln Electric Sales Up 3.5% in 3Q

Strength in North America and Europe offset challenges in Venezuela.

Lincoln Electric Holdings Inc. (Nasdaq: LECO), Cleveland, OH, reported third-quarter sales of $715.8 million, a year-over-year increase of 3.5 percent. Profit fell 31 percent to $45.7 million.

Results included rationalization and asset impairment charges primarily related to the planned divestiture of manufacturing capacity in the Asia Pacific Welding segment of $32.4 million partially offset by net gains of $3.4 million primarily representing a gain on the sale of real estate.

Strength in North American and Europe more than offset a "challenging year-over-year comparison from our Venezuela business," said Christopher L. Mapes, president and CEO.

Sales for the nine months ended Sept. 30 remained relatively steady in a year-over-year comparison at $2.1 billion. Profit fell 13 percent to $179.5 million.

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.


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.