Lincoln Electric Holdings, Inc. reported a net sales increase of 5.6% for the fiscal year ending December 31, 2025, reaching $4.233 billion, compared to $4.009 billion in 2024. The growth was primarily attributed to a 6.2% increase in pricing, driven by higher input costs, although this was partially offset by a 3.7% decline in sales volume. The company also benefited from acquisitions, which contributed $106.5 million to net sales. Gross profit as a percentage of sales decreased slightly to 36.3% from 36.8% in the previous year, influenced by lower volumes and a LIFO charge of $17.956 million due to rising input costs.
Operating income for 2025 was reported at $718.1 million, representing an increase from $636.5 million in 2024, with the operating income margin improving to 17.0% from 15.9%. Excluding special items, the operating income margin remained stable at 17.6% for both years. The company’s net income rose to $520.5 million, an 11.7% increase from $466.1 million in 2024, resulting in diluted earnings per share of $9.32, up from $8.15.
Strategically, Lincoln Electric made significant acquisitions, including 100% ownership of Alloy Steel Australia, Vanair Manufacturing, Inrotech, and Superior Controls, which collectively enhanced its automation and mobile power solutions portfolio. The company’s total assets increased to $3.778 billion from $3.520 billion in 2024, with goodwill rising to $886.7 million, reflecting the impact of these acquisitions. The company also reported a total employee headcount of approximately 12,000, a slight increase from the previous year.
Operationally, Lincoln Electric experienced a decline in customer demand in certain segments, particularly in the Americas and International Welding divisions, where sales volumes decreased by 4.2% and 5.1%, respectively. However, the Harris Products Group saw a 13.4% increase in sales, attributed to expanded market presence in the retail channel. The company continues to focus on effective cost management, which helped reduce selling, general, and administrative expenses as a percentage of sales.
Looking ahead, Lincoln Electric anticipates continued growth driven by strategic investments in automation and global expansion. The company plans to allocate between $110 million and $130 million for capital expenditures in 2026, aimed at enhancing operational efficiency and capacity. Management remains optimistic about leveraging its acquisitions and product innovations to capture market share and improve profitability in the coming years.
About LINCOLN ELECTRIC HOLDINGS INC
Lincoln Electric Holdings, Inc. is a global leader in designing and manufacturing arc welding solutions, automated joining, cutting systems, and brazing alloys. Its products serve industries such as fabrication, energy, heavy industry, automotive, and construction. The company operates worldwide with manufacturing facilities and a strong distribution network, emphasizing innovation, quality, and customer support to maintain its competitive edge in the welding industry.
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