Walter Liptak

Bryan Blair

Mircea Dobre

Saree Boroditsky

Steve Barger

Adam Farley

Christopher Dankert

Nathan Jones

Stefan Diaz

Andrew Costello

Angel Castillo Malpica

Christian Zilo

James Hardiman

Joseph Grabowski

- LECO's 2025 strategy targets **high single-digit, low double-digit growth**, with acquisitions contributing **300-400 basis points**.  **[59527_2138796_0]**  The company has exceeded its operating profit target, achieving **over 17%** for nearly three years, compared to a 16% average in the current strategy period.  **[59527_2138796_0]** 
- The company maintains a **price-cost neutral** strategy and is evaluating the impact of expanded Section 232 tariffs, planning pricing actions accordingly.  **[59527_2138796_1]** 
- Volumes have shown **more resilience and steadiness** than anticipated, particularly in consumables, which account for over half of the business.  **[59527_2138796_1]** 
- Heavy industries (nearly **20%** of business) are not expected to see growth until **2026**.  **[59527_2138796_2]**  Automation sales are projected to be **down mid-single digits** for the full year, with a flattish trend.  **[59527_2138796_4]** **[59527_2138796_8]** 
- The company prioritizes internal capital investment for growth, followed by inorganic growth, and has already completed **over $200 million** in share repurchases in the first half of the year, targeting **$300-400 million** for the full year.  **[59527_2138796_6]** **[59527_2138796_7]**

LINCOLN ELECTRIC HOLDINGS Discusses Strategic Growth, Margin Performance, and Market Outlook

- Lincoln Electric plans to unveil its 2030 strategy in early 2026, building on its 2025 strategy focused on **high single-digit, low double-digit growth** driven by innovation, automation, and acquisitions, which contribute **300-400 basis points** of growth.  **[59527_2138885_0]** 
- The company has consistently expanded operating margins by **200 basis points** per cycle and has exceeded its 16% average target for the current strategy period, achieving over **17%** for nearly three years, with expectations for continued improvements.  **[59527_2138885_0]** 
- While consumables show stability, heavy industries are challenged with no growth expected until **2026**.  **[59527_2138885_2]**  Automation sales are projected to be down mid-single digits for the full year 2025, maintaining a steady run rate of **$250 million per quarter**.  **[59527_2138885_4]** **[59527_2138885_8]** 
- Capital allocation prioritizes internal growth and inorganic opportunities in both automation (estimated **$35 billion** Total Addressable Market) and core welding (estimated **$25 billion** TAM), with recent acquisitions including a core welding business in August and a business in Australia.  **[59527_2138885_0]** **[59527_2138885_5]** **[59527_2138885_6]** 
- Lincoln Electric aims to return **$300 million-$400 million** to shareholders in 2025, having already completed over **$200 million** by Q2, and has increased its dividend for **29 consecutive years**.  **[59527_2138885_7]**

Lincoln Electric Holdings Discusses Growth Strategy, Margins, and Capital Allocation

- Lincoln Electric's operating margins have consistently exceeded their 16% average, remaining above **17% for the past three years**.  **[59527_2138928_0]**  While automation sales were **$911 million in 2024**, they are projected to be **down mid-single digits for the full year 2025**, maintaining a steady run rate of **$250 million per quarter**.  **[59527_2138928_8]** **[59527_2138928_4]** 
- The company's strategy focuses on innovation, automation, and acquisitions for growth, with expectations for continued operating model improvements.  **[59527_2138928_0]**  Lincoln Electric is targeting **$10 million to $15 million in permanent cost savings** in the second half of 2025 and is actively seeking alternative suppliers to mitigate cost impacts, including tariffs.  **[59527_2138928_3]** 
- Consumable volumes show resilience and steadiness, but heavy industries are expected to remain challenged until 2026.  **[59527_2138928_1]** **[59527_2138928_2]**  Capital allocation prioritizes internal growth investments and inorganic opportunities, with a 2025 share repurchase target of **$300 million to $400 million**, of which **over $200 million was completed in the first half**.  **[59527_2138928_6]** **[59527_2138928_7]**

Lincoln Electric Discusses Strategic Outlook, Market Conditions, and Capital Allocation

- Lincoln Electric's **2025 Higher Standard strategy** targets **high single-digit to low double-digit growth**, driven by innovation, automation, and acquisitions, with operating margins consistently exceeding **17%**.  **[59527_2138855_0]** 
- The company maintains a **price-cost neutral strategy** amidst resilient volumes in consumables, which constitute about **half** of its business, while **heavy industries** (nearly **20%** of business) are expected to remain challenged until **2026**.  **[59527_2138855_1]** **[59527_2138855_2]** 
- Automation sales are projected to decline **mid-single digits** for the full year from **$911 million** in **2024**, due to customer deferrals on capital investments.  **[59527_2138855_4]** **[59527_2138855_8]** 
- Lincoln Electric plans **$300 million to $400 million** in share repurchases for the year, having already completed **over $200 million** in the first half, and has increased its dividend for **29 consecutive years**.  **[59527_2138855_7]**

Lincoln Electric Holdings Discusses Strategy, Market Dynamics, and Capital Allocation

LINCOLN ELECTRIC HOLDINGS (LECO)