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# Lincoln Electric Sales Jump 15.1% On Volume, And The Dividend Rises 10.1%
- URL: https://www.bullished.co/lincoln-electric-sales-jump-15-1-on-volume-and-the-dividend-rises-10-1-c0a0e80e/
- Published: 2026-10-27T13:21:17.000Z
- Updated: 2026-10-27T13:21:17.000Z
- Description: The welding maker's organic sales rose 14.5%, led by volume, and adjusted earnings per share reached $2.98 from $2.47.
- Author: Matteo Parrino
- Tags: Earnings, LECO, Industry: Industrials

Lincoln Electric, which makes welding and cutting equipment and the supplies that go with it, said Tuesday that third-quarter [net sales rose 15.1% to $1,221.3 million](https://www.sec.gov/Archives/edgar/data/0000059527/000005952726000025/leco-ex99d1.htm?ref=bullished.co), with volume doing most of the work. The board also raised the quarterly dividend 10.1%, to $0.87 a share.

## Volume did the heavy lifting

Organic sales grew 14.5%, acquisitions added 0.5% and favorable currency 0.1%, the company reported in an [8-K](https://www.sec.gov/Archives/edgar/data/0000059527/000005952726000025/leco-20261027x8k.htm?ref=bullished.co) press release. Its segment table puts volume at 8.8 points of the 15.1% gain and price at 5.7 points.

Net income was $144.3 million, or $2.63 a diluted share, against $2.21 a year earlier. Excluding special items, adjusted earnings per share rose to $2.98 from $2.47\. Chairman and CEO Steven B. Hedlund called it "record adjusted earnings per share."

Operating income was $211.4 million, or 17.3% of sales, versus 16.6% a year earlier. Adjusted operating margin reached 18.0%, from 17.4%.

## Harris surges, International lags

The Harris Products Group, which covers cutting, soldering and brazing, and specialty gas equipment, grew sales 28.9%. Price contributed 25.7 points of that. Americas Welding rose 15.8%, with volume adding 13.2 points, while International Welding rose 3.3%.

Lincoln Electric sells arc welding machines, filler metals, cutting systems and robotic automation to manufacturers and fabricators, mainly through distributors in the Americas.

## Cash returned and a bigger payout

Operating cash flow was $216 million, a 107% conversion of adjusted net income, down from 149% a year earlier. The company returned $143 million to shareholders through dividends and buybacks.

Adjusted return on invested capital for the twelve months ended September 30 was 23.9%, up from 22.2%. The new $0.87 quarterly dividend, $3.48 annualized, is payable January 15, 2027 to holders of record December 31, 2026.

Management discusses the results on a webcast at 10:00 a.m. ET Tuesday.

### Sources

- [8-K Filing — LINCOLN ELECTRIC HOLDINGS INC (LECO)](https://www.sec.gov/Archives/edgar/data/0000059527/000005952726000025/leco-20261027x8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit leco-ex99d1.htm — LINCOLN ELECTRIC HOLDINGS INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000059527/000005952726000025/leco-ex99d1.htm?ref=bullished.co) — SEC EDGAR