NEW YORK (TheStreet) -- Shares of Lincoln Electric Holdings Inc. (LECO) are higher by 3.98% to $69.43 in mid-morning trading on Monday after the company reported an increase in net earnings to $77.3 million, or 96 cents per diluted share for the most recent quarter, compared to $72.6 million, or 87 cents per diluted for the 2013 second quarter.
The company, which manufacturers welding, cutting, and blazing products, said adjusted net income was $81.5 million, or $1.01 per diluted share versus $75.7 million, or 91 cents per diluted share for the same period last year.
Lincoln Electric's revenue for the 2014 second quarter increased slightly to $728.5 million from $727.4 million for the comparable 2013 period.
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Separately, TheStreet Ratings team rates LINCOLN ELECTRIC HLDGS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINCOLN ELECTRIC HLDGS INC (LECO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.LECO data by YCharts
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