Lincoln Electric Sales Rise 12% to $1,219.7 Million in Second Quarter
Key Facts
Lincoln Electric sales rose 12.0% year over year to $1,219.7 million in the second quarter of 2026, according to the company’s results, in what management described as a record performance across sales, operating profit, earnings and cash generation. Revenue growth came from a 10.1% increase in organic sales, a 1.5% contribution from acquisitions and a favorable 0.4% impact from currency exchange rates. Chief Executive Stephen Hedlund said the company delivered "record second-quarter results" across key metrics. He added that management was encouraged by signs of improving demand and capital spending in the Americas and Asia-Pacific. The results provide a basis for tracking the company’s industrial performance in the second half of the year.
Diluted earnings per share were $2.88 in the second quarter, compared with $2.56 in the same period of 2025, while adjusted earnings per share reached $2.93 versus $2.60. Operating income margin rose to 18.1% of sales, from 17.6% a year earlier. Adjusted operating income margin was also 18.4%, compared with 17.9% in the second quarter of 2025. These metrics reflect improved profitability alongside revenue growth. The company also cited strong cash generation, with cash flow from operations of $254 million and a cash conversion rate of 138%.
For the first half of 2026, sales increased 11.9% to $2,341.1 million, with organic growth of 9.0%. Acquisitions contributed 1.5%, while favorable currency exchange rates added 1.4% to sales growth for the period. Segment data show that consumables sales rose to $688.009 million from $594.646 million in the second quarter of 2025. Equipment sales also climbed to $302.581 million from $277.611 million, while automation sales increased to $229.073 million from $216.416 million. The gains therefore covered all three product categories cited in the company’s disclosure.
On operating investment, Lincoln Electric expects capital expenditures of between 110,000 and 130,000 thousand dollars during 2026. The company said the spending is allocated to investments in capacity expansion, operating efficiency improvements and general maintenance. This comes as management discussed improving capital spending in its key markets during the second quarter. On October 20, the company announced the launch of its XpertLINC physical AI platform, which adjusts robot paths and welding parameters to adapt to variations in parts during operation. The company said the platform would be showcased at FABTECH from October 21 to 23, 2026.
Before the third-quarter results announcement, Lincoln Electric shares closed at $258.65 on October 26, according to EL7 data. The company had set the release of its third-quarter 2026 results for before the market opened on Tuesday, October 27. An investor call and webcast were also scheduled for 10:00 a.m. Eastern time that day. The announcement marks the next opportunity to compare sales growth, margins and cash flows with first-half performance. The company’s previous results showed growth in organic sales alongside contributions from acquisitions and currency, while management pointed to improving demand and capital spending in some of its markets.