ESAB Corporation · Q1 2022 earnings

Briefing

Achieved record sales and adjusted EPS, successfully separated from Enovis Corporation.

ESAB Corporation reported strong first quarter 2022 results, with record sales of $647.9 million, a 14% increase on a reported basis, and adjusted EPS of $1.17. The company also achieved adjusted EBITDA of $109.3 million, up 16% versus the prior year. ESAB reaffirmed its full year 2022 guidance, excluding Russia for the remainder of the year.

• Reported $0.96 EPS from continuing operations and achieved $1.17 of adjusted EPS.
• Grew sales 14%, including organic growth of 18%, to a record $648 million.
• Achieved adjusted EBITDA of $109 million, up 16% versus prior year.
• First quarter results in-line with expectations and reaffirmed 2022 full year guidance.

Headline financials

Revenue & EPS history

The Company reported strong first quarter results, and reiterated its full year 2022 guidance, which excludes Russia for the remainder of the year. We continue to expect $2.45-$2.50 billion of sales with organic growth of 4%-7% and total reported sales growth of 2%-4%, full year adjusted EBITDA of $400-$420 million, adjusted EPS of $3.85-$4.05 and free cash flow of greater than $210 million.