Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q1 2023 Earnings Conference Call April 27, 2023 10:00 AM ET
Company Participants
Amanda Butler – Vice President-Investor Relations and Communications-
Chris Mapes – Chairman, President and Chief Executive Officer-
Steve Hedland – Chief Operating Officer
Gabe Bruno – Chief Financial Officer
Conference Call Participants
Bryan Blair – Oppenheimer
Mig Dobre – R.W. Baird
Walt Liptak – Seaport Research
Steve Barger – KeyBanc
Adam Farley – Stifel
Operator
Greetings, and welcome to the Lincoln Electric 2023 First Quarter Financial Results Conference Call. [Operator Instructions] And the call is being recorded.
It is my pleasure to introduce your host, Amanda Butler, Vice President of Investor Relations and Communications. Thank you. You may now begin.
Amanda Butler
Well, thank you, Gerald. And good morning, everyone. Welcome to Lincoln Electric's first quarter 2023 conference call.
We released our financial results earlier today, and you can find our release as an attachment to this call's slide presentation as well as on the Lincoln Electric website at lincolnelectric.com in the Investor Relations section.
Joining me on the call today is Chris Mapes, Lincoln's Chairman, President and Chief Executive Officer; Gabe Bruno, our Chief Financial Officer; and Steve Hedland, Chief Operating Officer.
Chris will begin with quarterly highlights, Steve will provide a discussion of end market trends, and Gabe will cover our quarterly financial performance in more detail as well as our full year 2023 assumptions. Following our prepared remarks, we're happy to take your questions.
Before we start our discussion, 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. A discussion of some of the risks and uncertainties that may affect our results 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 tables 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 Chris Mapes. Chris?
Chris Mapes
Thank you, Amanda. Good morning, everyone.
Turning to Slide 3. I'm pleased to report another record quarter of sales at over $1 billion, a milestone for our organization. We also achieved record adjusted earnings per share performance at $2.13 and generated a record $124 million in cash flow from operations, all of which demonstrate solid momentum in the business, continuous improvement in our operational performance, leveraging our Lincoln Business System, and Higher Standard 2025 strategy initiatives. And it reinforces how our innovative solutions, automation leadership and industry-leading application experts are winning in the market.