ESAB Corporation · Q3 2022 earnings

Briefing

Achieved revenue growth and margin expansion, completed acquisition of Ohio Medical, and reaffirmed core organic growth expectation.

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.

Headline financials

Revenue & EPS history

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.