Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Q2 2024 Earnings Conference Call July 31, 2024 10:00 AM ET
Company Participants
Amanda Butler - Vice President of Investor Relations & Communications
Steve Hedlund - President & Chief Executive Officer
Gabe Bruno - Chief Financial Officer
Conference Call Participants
Angel Castillo - Morgan Stanley
Bryan Blair - Oppenheimer
Nathan Jones - Stifel
Joe Grabowski - Baird
Saree Boroditsky - Jefferies
Chris Dankert - Loop Capital
Walt Liptak - Seaport Research
Steve Barger - KeyBanc
Operator
Greetings, and welcome to the Lincoln Electric 2024 Second Quarter Financial Results Conference Call. [Operator Instructions] And this 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 begin.
Amanda Butler
Thank you, Greg, and good morning, everyone. Welcome to Legal Electric's second quarter 2024 conference call. We released our financial results earlier today, and you can find our release and this call slide presentation at lincolnelectric.com in the Investor Relations section.
Joining me on the call today is Steve Hedlund, President and Chief Executive Officer; and Gabe Bruno, our Chief Financial Officer. Following our prepared remarks, we're happy to take your questions.
But 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 and uncertainties, which are provided in our press release and in our SEC filings on Forms 10-K and 10-Q.
In addition, we discussed financial measures that do not conform to US GAAP. A reconciliation of non-GAAP measures to the most comparable GAAP measures 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 Steve Hedlund. Steve?
Steve Hedlund
Thank you, Amanda. Good morning, everyone. Turning to slide 3. I am pleased to report solid second quarter results, demonstrating the team's strong execution of our higher standard strategy initiatives, structural improvements in the business and diligent management of costs, which has enabled us to successfully navigate through a more challenging portion of the cycle.
Despite an organic sales decline of 4% in the quarter, we held our operating income margin steady at last year's record 17.4% rate. I would like to thank the global team for staying focused on our customers and executing our commercial and operational initiatives in a dynamic environment.