Lincoln Electric Holdings, Inc. (LECO) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

in the Investor Relations section. Joining me on the call today is Steve Hedlund, Chairman, President, and Chief Executive Officer, as well as Gabe Bruno, our Chief Financial Officer. Following our prepared remarks, we're happy to take your questions. Before we start our discussion, though, please note that certain statements made during this call may be forward-looking, and actual results may differ materially from our expectations due to a number of risk factors and uncertainties. which are provided in our press release and in our SEC filings on forms 10-K and 10-Q. In addition, we discuss financial measures that do not conform to U.S. GAAP, and a reconciliation of non-GAAP measures to the most comparable GAAP measure is found in the financial statements in our earnings release, which, again, is available in the investor relations section of our website at lincolnelectric.com. And with that, I'll turn the call over to Steve Hedlund. Steve. Thank you, Amanda. Good morning, everyone. Turning to slide three, we reported solid execution in the first quarter despite a softer industrial cycle. We are well positioned to manage evolving market conditions while still investing in long-term growth, advancing our strategic operational initiatives, which are focused on driving margin improvement, and increasing our returns to shareholders. Looking at our first quarter highlights, top-line sales increased on benefits from acquisition and price, while volumes were a bit softer than we expected. Half of the volume decline was due to labor negotiations in our turkey facility, which impacted sales. We successfully concluded negotiations mid-March, and orders started to normalize in April. Our first quarter price included our initial response to announced tariffs, and we have since ...