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Mar 31, 2023
ESAB Q1 2023 Earnings Report
ESAB Corporation's Q1 2023 financial performance was marked by sales growth and increased profitability.
Key Takeaways
ESAB Corporation reported a 6% increase in sales, driven by a 7% core organic growth in Q1 2023. The company's net income was $33 million, with core adjusted EBITDA rising by 12% to $113 million. ESAB raised its full-year 2023 outlook, expecting continued growth and profitability.
Sales increased by 6% with a core organic growth of 7%.
Net income from continuing operations attributable to ESAB was $33 million.
Core adjusted EBITDA increased by 12% to $113 million, with margins expanding by 80 basis points to 17.4%.
Full year 2023 outlook was raised due to strong Q1 performance and resilient end markets.
Revenue by Geographic Location
Forward Guidance
ESAB raised its full year 2023 outlook and expects core organic sales growth of 3.5% to 5.5%, total core sales growth of 4.0% to 6.0%, core adjusted EBITDA of $430 to $450 million, and core adjusted EPS of $3.85 to $4.05.
Positive Outlook
- Core organic sales growth expected between 3.5% and 5.5%.
- Total core sales growth projected to be between 4.0% and 6.0%.
- Core adjusted EBITDA anticipated in the range of $430 to $450 million.
- Core adjusted EPS expected to be between $3.85 and $4.05.
- Previous guidance was raised.
Challenges Ahead
- Macroeconomic conditions
- Supply chain disruptions
- War in Ukraine
- Geopolitical tensions
- Fluctuations in foreign exchange rates
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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