Lincoln Electric Holdings, Inc. (LECO) Morgan Stanley’s 14th Annual Laguna Conference September 17, 2026 12:15 PM EDT
Company Participants
Gabriel Bruno – Executive VP, CFO & Treasurer
Conference Call Participants
Angel Castillo Malpica – Morgan Stanley, Research Division
Presentation
Angel Castillo Malpica
Morgan Stanley, Research Division
Well, good morning, everybody, and thanks for joining us for the third and last day here at the Laguna Conference. So it’s my pleasure to have with me today, Gabe Bruno, EVP, CFO & Treasurer of Lincoln Electric. So thank you so much, Gabe.
Gabriel Bruno
Executive VP, CFO & Treasurer
Good to be here, Angel.
Angel Castillo Malpica
Morgan Stanley, Research Division
Thank you. Well, before we get started, I just want to read a quick disclaimer. So for important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley representative.
Question-and-Answer Session
Angel Castillo Malpica
Morgan Stanley, Research Division
So again, okay, thank you so much for joining us. Lots of things to discuss. And obviously, macro is a big aspect of what’s happening right now. But I want to actually go a little bit more idiosyncratic at first and a little bit higher level. And back to your kind of RISE strategy and start there in terms of talking about what you laid out as a longer-term outlook in terms of achieving kind of high 20s incremental margins by 2030. Maybe if we could start with that bigger picture and just talk about kind of the concrete structural changes inside of Lincoln and initiatives that are ultimately expected to drive that kind of improvement over the years.
Gabriel Bruno
Executive VP, CFO & Treasurer
Well, thanks, Angel. That’s a great place to start. So thank you for focusing on long-term value creation. I’ve been
