ESAB Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 06:00 am EST
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ESAB Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 689.35 million compared to USD 664.13 million a year ago. Net income was USD 50.24 million compared to USD 60.71 million a year ago. Basic earnings per share from continuing operations was USD 0.96 compared to USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.97 a year ago. Basic earnings per share was USD 0.83 compared to USD 1 a year ago. Diluted earnings per share was USD 0.83 compared to USD 1 a year ago.
For the full year, the company reported sales was USD 2,774.77 million compared to USD 2,593.48 million a year ago. Net income was USD 205.29 million compared to USD 223.75 million a year ago. Basic earnings per share from continuing operations was USD 3.59 compared to USD 3.75 a year ago. Diluted earnings per share from continuing operations was USD 3.56 compared to USD 3.74 a year ago. Basic earnings per share was USD 3.39 compared to USD 3.7 a year ago. Diluted earnings per share was USD 3.36 compared to USD 3.69 a year ago.
ESAB Corporation is involved in the fabrication and gas control technology. The Company provides its partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions, which enable everyday work. Its segments include Americas, and EMEA & APAC. The Americas segment which includes operations in North America and South America. The EMEA & APAC segment which includes Europe, Middle East, India, Africa, and Asia Pacific. The Companyâs products are utilized to solve challenges in a range of industries, including cutting, joining and automated welding. Its products are marketed under various brand names, such as ESAB, which provides a comprehensive range of welding consumables, including electrodes, cored and solid wires, and fluxes using a range of specialty and other materials, and cutting consumables including electrodes, nozzles, and tips. ESABâs equipment ranges from portable welding machines to large customized automated cutting and welding systems.