$ESAB

ESAB Corp

CIK:0001877322|SEC Filings

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2026	Jul. 04, 2025	Jul. 03, 2026	Jul. 04, 2025
Income Statement [Abstract]
Net sales	$ 807,627	$ 715,586	$ 1,553,224	$ 1,393,724
Cost of sales	500,416	449,539	970,901	872,475
Gross profit	307,211	266,047	582,323	521,249
Selling, general and administrative expense	210,169	155,563	384,641	296,421
Restructuring and other related charges	18,317	1,390	28,478	5,889
Operating income	78,725	109,094	169,204	218,939
Interest expense and other, net	30,623	20,999	56,200	37,781
Income from continuing operations before income taxes	48,102	88,095	113,004	181,158
Income tax expense	11,701	18,283	24,812	38,782
Net income from continuing operations	36,401	69,812	88,192	142,376
Loss from discontinued operations, net of taxes	(2,413)	(1,708)	(4,967)	(4,440)
Net income	33,988	68,104	83,225	137,936
Income attributable to noncontrolling interest, net of taxes	(1,634)	(1,221)	(3,227)	(3,690)
Net income attributable to ESAB Corporation	32,354	66,883	79,998	134,246
Mandatory convertible preferred stock dividends	(1,390)	0	(1,390)	0
Net income attributable to common stockholders	$ 30,964	$ 66,883	$ 78,608	$ 134,246
Earnings (loss) per share – basic
Income from continuing operations (in dollars per share)	$ 0.54	$ 1.13	$ 1.36	$ 2.28
Loss on discontinued operations (in dollars per share)	(0.04)	(0.03)	(0.08)	(0.07)
Net income per share (in dollars per share)	0.50	1.10	1.28	2.21
Earnings (loss) per share – diluted
Income from continuing operations (in dollars per share)	0.54	1.12	1.35	2.26
Loss on discontinued operations (in dollars per share)	(0.04)	(0.03)	(0.08)	(0.07)
Net income per share - diluted (in dollars per share)	$ 0.50	$ 1.09	$ 1.27	$ 2.19

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2026	Jul. 04, 2025
Cash flows from operating activities:
Net income	$ 83,225	$ 137,936
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other impairment charges	51,736	36,846
Net gain on sale of property, plant and equipment	(60)	(5,703)
Stock-based compensation expense	10,382	9,900
Deferred income tax benefit	(15,183)	(6,761)
Amortization of debt issuance costs	7,304	1,255
Changes in operating assets and liabilities:
Trade receivables, net	(39,541)	(49,161)
Inventories, net	(51,522)	(37,407)
Accounts payable	36,345	23,183
Other operating assets and liabilities	(2,348)	(28,051)
Net cash provided by operating activities	80,338	82,037
Cash flows from investing activities:
Purchases of property, plant and equipment	(31,448)	(16,474)
Proceeds from sale of property, plant and equipment	359	4,732
Acquisitions, net of cash received	1,469,372	86,252
Other investing	0	500
Net cash used in investing activities	(1,500,461)	(98,494)
Cash flows from financing activities:
Proceeds from issuance of Preferred Stock, net	171,097	0
Proceeds from issuance of Common Stock, net	139,796	0
Proceeds from borrowings on Senior Notes	1,000,000	0
Payment of debt issuance costs	(17,813)	0
Proceeds from borrowings on revolving credit facilities and other	904,267	8,674
Repayments of borrowings on Term Loans	0	(5,000)
Repayments of borrowings on revolving credit facilities and other	(730,816)	0
Payment of dividends	(12,201)	(9,729)
Distributions to noncontrolling interest holders	(1,117)	(1,174)
Other financing	(5,198)	(12,418)
Net cash provided by (used in) financing activities	1,448,015	(19,647)
Effect of foreign exchange rates on Cash and cash equivalents	3,736	44,969
Increase in Cash and cash equivalents	31,628	8,865
Cash and cash equivalents, beginning of period	185,863	249,358
Cash and cash equivalents, end of period	$ 217,491	$ 258,223

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 03, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 217,491	$ 185,863
Trade receivables, less allowance for credit losses of $22,538 and $21,765	554,147	451,298
Inventories, net	581,541	481,765
Prepaid expenses	84,482	66,103
Other current assets	90,802	76,876
Total current assets	1,528,463	1,261,905
Property, plant and equipment, net	389,848	381,876
Goodwill	2,746,209	1,949,702
Intangible assets, net	1,372,088	673,006
Lease assets - right of use	143,382	113,310
Other assets	382,621	386,295
Total assets	6,562,611	4,766,094
Long-Term Debt, Current Maturities	5,940	2,412
CURRENT LIABILITIES:
Accounts payable	407,428	360,391
Accrued liabilities	365,639	301,986
Total current liabilities	779,007	664,789
Long-term debt	2,391,350	1,232,540
Other liabilities	808,037	657,236
Total liabilities	3,978,394	2,554,565
Equity:
6.50% Series A Mandatory Convertible Preferred Stock, 175,000 shares issued and outstanding at July 3, 2026; no shares issued or outstanding at December 31, 2025	171,097	0
Common stock - $0.001 par value - 600,000,000 shares authorized, 62,167,669 and 60,721,079 shares outstanding as of July 3, 2026 and December 31, 2025, respectively	62	61
Additional paid-in capital	2,049,885	1,904,889
Retained earnings	865,809	800,806
Accumulated other comprehensive loss	(548,172)	(539,716)
Total ESAB Corporation equity	2,538,681	2,166,040
Noncontrolling interest	45,536	45,489
Total equity	2,584,217	2,211,529
Total liabilities and equity	$ 6,562,611	$ 4,766,094
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001