Lincoln Electric Q3 2026: Record EPS and a Dividend Hike Signal Welding Comeback
As seen on the 24/7 Wall St. homepage on October 27, 2026.
Welding demand is back: 14.5% organic sales growth pushed Lincoln Electric past both EPS and revenue estimates. The board backed it up with a dividend increase to $0.87 a share.
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Lincoln Electric's adjusted earnings per share of $2.98 beat expectations, the fifth consecutive quarter the company has exceeded Wall Street's expectations. CEO Steven B. Hedlund called it a quarter of record adjusted earnings per share, crediting higher volumes and margin expansion for the result.
Revenue of $1.22 billion beat expectations and climbed 15.1% from the same period a year ago. Organic sales expansion came primarily from volume gains, a signal of genuine end-market strength.
All three reporting segments contributed, led by Americas Welding, which generated $801.3 million in net sales. International Welding grew a more modest 3.3%, with a volume decline there standing as the clearest soft spot in the quarter.
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The board declared a quarterly cash dividend of $0.87 per share, a 10.1% increase from the prior quarter, payable on January 15, 2027, to shareholders of record on December 31, 2026. GAAP EPS came in lower at $2.63, reduced by after-tax special charges tied to rationalization actions and income tax expense related to repatriation of certain foreign earnings.
The company missed estimates only once in the past eight quarters, in Q1 2025, and has beaten by increasingly wider margins in the two most recent periods. The key risks to monitor include tariff-rate uncertainty, currency fluctuations, and the volume softness already visible in the International Welding segment.