ESAB Corporation Q1 2025 Results – Summary

Financial Performance
- Sales: $678 million (down 2% reported; flat core organic)
- Core adjusted EBITDA: $128 million (up 4%), margin up 100 bps to 19.8%
- GAAP net income: $67 million or $1.14 diluted EPS
- Core adjusted net income: $77 million or $1.25 diluted EPS

Segment Trends
- Americas: Slight organic decline; adjusted EBITDA margin at 19.4%
- EMEA & APAC: Organic growth of 1.5%; adjusted EBITDA margin at 20.0%
- Russia excluded from core figures

Strategic & Operational Updates
- Bavaria Schweisstechnik acquisition completed April 30, boosting consumables portfolio
- Strong margin expansion despite market softness
- Company leveraging its EBX system for efficiency and resiliency amid tariff and macro uncertainty

Outlook for 2025
- Core organic sales growth: 0.0% to 2.0%
- Total core net sales growth: revised up to -1.0% to 1.5% (from -2.0% to 0.0%)
- M&A contribution: raised to 2.0%–2.5%
- Currency headwind: moderated to ~ -3.0%
- Core adjusted EBITDA: revised to $520–$530 million (from $515–$530 million)
- Core adjusted EPS: reaffirmed at $5.10–$5.25

Cash Flow
- Adjusted free cash flow: $30.4 million (vs. $40.8 million a year ago)
- Strong cash balance: $291 million