ESAB Corporation announced its third quarter 2024 financial results, reporting sales of $673 million. This represents a 1% decrease on a reported basis but a 1% increase in core organic growth compared to the prior year. The company's operational execution contributed to profitability despite a challenging market.
The company achieved a net income from continuing operations of $69 million, with diluted earnings per share of $1.13. Core adjusted net income reached $77 million, translating to $1.25 in core adjusted diluted earnings per share. Core adjusted EBITDA increased by 6% to $125 million, and the core adjusted EBITDA margin expanded by 130 basis points to 19.6%.
ESAB updated its full-year 2024 outlook, raising its core adjusted EBITDA guidance to a range of $500 million to $515 million from the previous $495 million to $515 million. Core adjusted EPS guidance was also narrowed to $4.80 to $4.95 from $4.75 to $4.95. Total core sales growth is now expected between (1.5)% and (0.5)%, an improvement from the prior (2.5)% to (0.5)%.
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