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Sep 30, 2022
ESAB Q3 2022 Earnings Report
Achieved revenue growth and margin expansion, completed acquisition of Ohio Medical, and reaffirmed core organic growth expectation.
Key Takeaways
ESAB Corporation reported strong Q3 2022 financial results, with a 2% increase in sales and 10% core organic growth. The company's net income was $53 million, or $0.88 diluted per share, and core adjusted EBITDA rose 5% to $96 million. ESAB also completed the acquisition of Ohio Medical to strengthen its gas control business.
Diluted EPS from continuing operations reached $0.88, with a core adjusted diluted EPS of $0.92.
Sales increased by 2%, featuring a 10% core organic growth.
Net income from continuing operations attributable to ESAB was $53 million, while core adjusted EBITDA increased by 5% year-over-year to $96 million.
The acquisition of Ohio Medical was completed, enhancing the gas control business.
Revenue by Geographic Location
Forward Guidance
ESAB reaffirmed its expectation for 2022 core organic growth of 11-14% and updated its total core sales growth forecast to 5-7% reflecting additional currency pressures. The Company narrowed its core adjusted EBITDA outlook to $405-415 million and increased its core adjusted EPS guidance from $3.85-$4.05 to $4.00-$4.10.
Positive Outlook
- Core organic growth reaffirmed at 11-14%.
- Core adjusted EBITDA outlook narrowed to $405-415 million.
- Core adjusted EPS guidance increased to $4.00-$4.10.
- Total core sales growth forecast updated to 5-7%.
Challenges Ahead
- Additional currency pressures impacting total core sales growth.
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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