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ESAB (ESAB) investor relations material
ESAB Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary6 Aug, 2025
Executive summary
Achieved record Q2 2025 adjusted/core adjusted EBITDA margin of 20.4%, with strong EMEA and APAC growth offsetting tariff-related headwinds and automation softness in the Americas.
Completed acquisitions of DeltaP and Aktiv (medical gas control), Bavaria, and signed EWM (heavy industrial/robotics), expanding product portfolios and geographic reach.
Raised full-year 2025 guidance for sales, EBITDA, and EPS, reflecting improved outlook and M&A contributions.
Strategic investments in talent, AI, and operational excellence delivered productivity savings and supported robust margins.
Maintained strong balance sheet and net leverage within 2x target, supporting ongoing M&A and growth investments.
Financial highlights
Q2 2025 sales grew 1–2% year-over-year to $715.6M–$716M, driven by acquisitions and favorable currency, with EMEA & APAC sales up 11%.
Adjusted/core adjusted EBITDA margin reached a record 20.4% (up 30 bps), with adjusted EBITDA of $138M–$143.5M.
Net income from continuing operations was $69M–$69.8M, with adjusted net income at $84M–$86.2M; adjusted EPS $1.13–$1.40.
Free cash flow for Q2 2025 was $46M–$46.4M, reflecting higher working capital and inventory investments.
Cash and cash equivalents at quarter-end were $258M, up from year-end 2024.
Outlook and guidance
Full-year 2025 sales guidance raised to $2.63–$2.68B, with M&A expected to contribute ~2.5% and FX impact revised to ~(1.0)%.
Core adjusted EBITDA guidance increased to $525M–$535M; core adjusted EPS guidance raised to $5.15–$5.30.
Core organic growth outlook maintained at 0–2%; EMEA & APAC to achieve mid single-digit growth, Americas to see low single-digit decline.
Free cash flow conversion expected at ~100%, with improvement anticipated in H2 2025 as inventory normalizes.
EWM acquisition expected to close in Q4 2025 and is not yet included in guidance.
How did Americas navigate tariff pressures?
What drove EMEA & APAC momentum?
Explain the impact of Russia on core sales.
Quantify EWM's expected ROIC.
How does ESAB plan to use AI?
Explain the Flame Internship Program.
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Q3 202529 Oct, 2025
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Frequently asked questions
ESAB Corporation is a global company specializing in the production of welding and cutting equipment and consumables. It provides a wide range of products and solutions for industrial applications, including welding machines, gas control systems, cutting systems, and related consumables like electrodes and filler metals. The company serves industries such as manufacturing, construction, automotive, and shipbuilding, offering solutions that enable metal fabrication and processing. The company is headquartered in North Bethesda, Maryland, and its shares are listed on the NYSE.
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