Stock Track | ESAB Stock Soars as Q3 Results Beat Estimates, Guidance Raised

Stock Track10-29

Shares of ESAB Corporation (NYSE: ESAB), a leading manufacturer of welding and cutting equipment, surged on Monday after the company reported better-than-expected financial results for the third quarter of 2024 and raised its full-year guidance.

ESAB's stock climbed 5.33% to close at $XX.XX per share, as investors cheered the company's strong performance amid a challenging market environment. The rally was fueled by ESAB's impressive third-quarter revenue of $673.3 million, which exceeded analysts' consensus estimate of around $620 million.

Furthermore, the company's adjusted earnings per share (EPS) of $1.25 for the quarter also outperformed Wall Street's expectations of $1.12. ESAB attributed its solid results to positive volume growth, record margins, and robust cash flow generation.

In addition to the strong third-quarter performance, ESAB raised its full-year 2024 adjusted EPS guidance to a range of $4.80 to $4.95, up from its previous guidance range of $4.75 to $4.95. The revised guidance also topped the consensus estimate of $4.85.

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