ESAB Corp Files Q3 2024 10-Q Report

TL;DR

**ESAB Corp Q3 2024 10-Q filed. Financials out.**

AI Summary

ESAB Corp filed its 10-Q for the period ending September 27, 2024. The filing covers the third quarter of 2024 and provides financial details for the company. Key financial data and operational information are presented in this report.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look at ESAB Corp's financial performance and position as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

• ESAB Corp (company) — Filer of the 10-Q report
• 2024-09-27 (date) — End of the reporting period for the 10-Q
• 2024-10-29 (date) — Date the 10-Q was filed

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share ESAB New York Stock Exchange

Filing Documents

• esab-20240927.htm (10-Q) — 1525KB
• exhibit101mpr2024rsugranta.htm (EX-10.1) — 79KB
• exhibit311ceocertification.htm (EX-31.1) — 16KB
• exhibit312cfocertification.htm (EX-31.2) — 16KB
• exhibit321ceocertification.htm (EX-32.1) — 5KB
• exhibit322cfocertification.htm (EX-32.2) — 4KB
• 0001877322-24-000138.txt ( ) — 8120KB
• esab-20240927.xsd (EX-101.SCH) — 38KB
• esab-20240927_cal.xml (EX-101.CAL) — 72KB
• esab-20240927_def.xml (EX-101.DEF) — 192KB
• esab-20240927_lab.xml (EX-101.LAB) — 595KB
• esab-20240927_pre.xml (EX-101.PRE) — 432KB
• esab-20240927_htm.xml (XML) — 1346KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements 2

Item 1. Financial Statements 2 Consolidated and Condensed Statements of Operations 2 Consolidated and Condensed Statements of Comprehensive Income (Loss) 3 Consolidated and Condensed Balance Sheets 4 Consolidated and Condensed Statements of Equity 5 Consolidated and Condensed Statements of Cash Flows 7 Notes to Consolidated and Condensed Financial Statements 7 Note 1. Organization and Basis of Presentation 8 Note 2. Discontinued Operations 9 Note 3. Acquisitions 9 Note 4. Revenue 10 Note 5. Earnings per Share from Continuing Operations 10 Note 6. Income Taxes 11 Note 7. Inventories, Net 11 Note 8. Accrued and Other Liabilities 11 Note 9. Benefit Plans 12 Note 10. Debt 12 Note 11. Derivatives 14 Note 12. Financial Instruments and Fair Value Measurements 16 Note 13. Equity 18 Note 14. Commitments and Contingencies 21 Note 15. Segment Information 22 Note 16. Subsequent Event 23

Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk 38

Item 3. Quantitative and Qualitative Disclosures About Market Risk 38

Controls and Procedures 39

Item 4. Controls and Procedures 39

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings 40

Item 1. Legal Proceedings 40

Risk Factors 40

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds 40

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40

Defaults Upon Senior Securities 40

Item 3. Defaults Upon Senior Securities 40

Mine Safety Disclosures 40

Item 4. Mine Safety Disclosures 40

Other Information 40

Item 5. Other Information 40

Exhibits 41

Item 6. Exhibits 41 SIGNATURES 42 1

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ESAB CORPORATION CONSOLIDATED AND CONDENSED STATEMENTS OF OPERATIONS Dollars in thousands, except per share amounts (Unaudited) Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Net sales $ 673,250 $ 680,996 $ 2,070,047 $ 2,085,418 Cost of sales 419,460 431,282 1,290,915 1,324,392 Gross profit 253,790 249,714 779,132 761,026 Selling, general and administrative expense 145,900 145,439 434,537 442,836 Restructuring and other related charges 1,875 3,129 8,572 17,742 Operating income 106,015 101,146 336,023 300,448 Pension settlement loss — — 12,155 — Interest expense and other, net 16,894 20,502 49,925 58,831 Income from continuing operations before income taxes 89,121 80,644 273,943 241,617 Income tax expense 18,074 19,808 54,463 77,806 Net income from continuing operations 71,047 60,836 219,480 163,811 Loss from discontinued operations, net of taxes ( 1,214 ) ( 1,723 ) ( 3,684 ) ( 4,259 ) Net income 69,833 59,113 215,796 159,552 Income attributable to noncontrolling interest, net of taxes ( 1,593 ) ( 1,543 ) ( 4,698 ) ( 4,506 ) Net income attributable to ESAB Corporation $ 68,240 $ 57,570 $ 211,098 $ 155,046 Earnings (loss) per share – basic Income from continuing operations $ 1.14 $ 0.98 $ 3.54 $ 2.63 Loss on discontinued operations ( 0.02 ) ( 0.03 ) ( 0.06 ) ( 0.07 ) Net income per share – basic $ 1.12 $ 0.95 $ 3.48 $ 2.56 Earnings (loss) per share – diluted Income from continuing operations $ 1.13 $ 0.97 $ 3.50 $ 2.61 Loss on discontinued operations ( 0.02 ) ( 0.03 ) ( 0.06 ) ( 0.07 ) Net income per share – diluted $ 1.11 $ 0.94 $ 3.44 $ 2.54 See Notes to Consolidated and Condensed Financial Statements. 2 ESAB CORPORATION CONSOLIDATED AND CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Dollars in thousands (Unaudited) Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023

View Full Filing

View this 10-Q filing on SEC EDGAR