Lincoln Electric Holdings Inc

LECO: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$929.00	Zdpgscl	Wvszwhwnp

Lincoln Electric Earnings: Solid Operating Margin Expansion in Q3

Krzysztof Smalec

Oct 27, 2023

We’ve raised our fair value estimate for narrow-moat-rated Lincoln Electric to $179 from $171 after the company posted solid third-quarter earnings. Record adjusted operating margins helped drive a roughly 18% year-over-year increase in adjusted EPS, from $2.04 to $2.40. The fair value estimate increase reflects our slightly more optimistic operating margin projections as well as time value of money.

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