10-K · February 20, 2026
ESAB reported full-year 2025 revenue of $2.8426 billion, up 3.7% year-over-year, with Adjusted EBITDA of $559.7 million and Core adjusted EBITDA margin of 20.0%. Revenue growth was driven by EMEA & APAC (net sales up…
Earnings analysis · 10-Q
ESAB earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
ESAB reported Q1 2026 results with revenues of $746 million, surpassing estimates of $703 million, but with diluted EPS of $0.82, significantly below the expected $1.33. The company reaffirmed its full-year guidance…
Read full summary
ESAB reported Q1 2026 results with revenues of $746 million, surpassing estimates of $703 million, but with diluted EPS of $0.82, significantly below the expected $1.33. The company reaffirmed its full-year guidance while noting challenges with core organic sales that declined by 1%. Management highlighted strategic acquisitions as a key growth driver, despite ongoing geopolitical tensions affecting operational performance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.82
What stood out
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Revenue Exceeded Expectations
Q1 2026 revenue reached $746 million, surpassing analyst estimates of $703 million.
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Decline in EPS
Diluted EPS came in at $0.82, down from expectations of $1.33.
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Acquisition Growth Contribution
Increase attributed to acquisitions contributing to sales, notably from Bavaria and DeltaP.
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Strong EBITDA Growth
Adjusted EBITDA increased 2.0% year-over-year to $136.6 million.
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Solid International Sales Performance
79% of sales were generated from international operations, driving growth despite geopolitical risks.
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Improvement in Cash Position
Cash and cash equivalents rose significantly to $1.0 billion, up from $186 million at year-end 2025.
What to watch
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Geopolitical Tensions Affecting Sales
Ongoing conflicts, notably in Ukraine and Iran, have impacted sales volumes and logistics.
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Declining Core Organic Sales
Core organic sales fell by 1%, impacting overall revenue growth.
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Rising Restructuring Costs
Restructuring and related charges increased to $10.2 million from $4.5 million in the prior year.
Management's outlook
Management anticipates core adjusted EPS for full-year 2026 will be between $5.70 and $5.90.
Earlier filings 4
10-Q · October 29, 2025
ESAB reported Q3 net sales of $727,845 (thousands), up from $673,250 in the year-ago quarter, driven by consumables and equipment sales and 2025 acquisitions. Gross profit rose to $269,300 but margins compressed (gross…
10-Q · August 6, 2025
ESAB reported Q2 net sales of $715,586,000 (up from $707,053,000 in Q2 2024) and GAAP diluted EPS of $1.09. Margins compressed year-over-year: gross margin fell to 37.2% and operating margin to 15.3%, driving net income…
10-K · February 20, 2025
ESAB positions itself as a global leader in fabrication technology and gas control with a dual-segment (Americas; EMEA & APAC) model, a formal EBX operating system and an M&A-led growth strategy (three acquisitions…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.