Lincoln Electric Holdings, Inc. (LECO) Presents at 25th Annual Diversified Industrials & Services Conference Transcript

Lincoln Electric Holdings, Inc. ( LECO ) 25th Annual Diversified Industrials & Services Conference September 24, 2026 11:30 AM EDT Company Participants Gabriel Bruno - Executive VP, CFO & Treasurer Conference Call Participants Christopher Dankert - D.A. Davidson & Co., Research Division Presentation Christopher Dankert D.A. Davidson & Co., Research Division All right. Well, thanks, everyone, for joining us. It's great to be here. We got Gabe Bruno with Lincoln Electric. Thanks so much for making the time and coming down. Look, I mean, it's -- kind of just to jump in here, obviously, we had some comments last week, you were talking about just how strong demand has been. I guess I'd kind of like to start there and just get your thoughts, hey, is it more a matter of the rate of demand has improved? Or are we actually seeing the drivers broaden out at this point and really kind of move in a much more concerted way? Question-and-Answer Session Gabriel Bruno Executive VP, CFO & Treasurer Yes. So Chris, that's a great place to start, short term, thinking about what are the demand drivers and how we look at the industrial cycle. So we came into 2026 pointing to the strength of order activity, quoting activity within the automation business and the backlogs that gave us visibility to a level of real volume growth in the back half of the year, pointing to potentially the end of the second quarter. Now we've seen that. We typically have line of sight for 6 to 9 months or so worth of business and backlog out of automation. So we had confidence in that. And then we also saw consistency in the level of consumable volumes. So a little bit more than half of our business is consumables. And what that represents is