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CLEVELAND, OH – Lincoln Electric Holdings Inc . (NASDAQ:LECO), a leader in the metalworking machinery and equipment sector with a market capitalization of $10.4 billion, announced the results of its Annual Meeting of Shareholders held on April 24, 2025, according to a recent SEC filing. According to InvestingPro data, the company maintains strong financial health with a "GOOD" overall rating and has consistently raised its dividend for 28 consecutive years.
During the meeting, shareholders voted on several key proposals, including the election of directors and the ratification of the company’s independent auditor. Eleven directors were elected to hold office until the 2026 Annual Meeting or until their successors are elected and qualified. The directors, including Brian D. Chambers, Curtis E. Espeland, and N. Joy Falotico, received a majority of votes with Brian D. Chambers receiving 42,937,588 votes for and 132,337 votes withheld.
Additionally, shareholders ratified the appointment of Ernst & Young LLP as Lincoln Electric’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal received a significant majority of votes, with 48,160,596 votes for and 1,079,585 votes against.
The compensation of the company’s named executive officers was also approved on an advisory basis, with 41,890,900 votes for, 899,020 votes against, and 280,005 abstentions.
These decisions are detailed in the definitive proxy statement filed with the SEC on March 20, 2025. The election of directors and the ratification of the auditor are routine governance activities for public companies like Lincoln Electric, ensuring that the company adheres to best practices in corporate governance and financial oversight. With the company’s upcoming earnings report due on April 30, InvestingPro analysis shows strong fundamentals, including a healthy current ratio of 1.87 and robust return on equity of 35%.
The results of the vote underscore shareholder confidence in the company’s leadership and strategic direction. Lincoln Electric, headquartered in Cleveland, Ohio, continues to maintain its business focus in accordance with the preferences of its shareholders.
This report is based on a press release statement and provides an overview of the most recent corporate governance actions taken by Lincoln Electric Holdings Inc.
In other recent news, Lincoln Electric reported a strong fourth quarter for 2024, significantly exceeding earnings expectations. The company achieved an earnings per share (EPS) of $2.57, surpassing the forecasted $2.03, and reported revenue of $1.02 billion, which was above the anticipated $1 billion. Following these results, KeyBanc Capital Markets raised its price target for Lincoln Electric to $245, maintaining an Overweight rating, while Stifel increased its target to $220, keeping a Hold rating. KeyBanc highlighted Lincoln Electric’s impressive margin expansion, noting the company’s record operating margin of 17.6% for the fiscal year.
Despite a 7% organic decline, Lincoln Electric’s automation business showed signs of recovery, which could contribute to future growth. Analysts from KeyBanc expressed confidence in the company’s ability to maintain mid-20% incremental margins in the upcoming upcycle. Lincoln Electric’s management also noted positive developments in the automation segment, anticipating improvement by mid-2025 and potential growth in longer-cycle business by late 2025 into 2026.
The company’s strategic acquisitions and product innovations have been driving positive market sentiment, with expectations for modest sales growth in 2025. Lincoln Electric has projected a conservative outlook for the year, anticipating low single-digit sales growth, with some positive pricing and sales growth from recent acquisitions. Investors and analysts will be closely monitoring Lincoln Electric’s progress as it navigates the upcoming year.
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