ESAB Corporation Announces Fourth Quarter 2022 Results

NORTH BETHESDA, Md.–(BUSINESS WIRE)–ESAB Corporation (NYSE: ESAB), a world leader in connected fabrication technology and gas control solutions, today announced strong financial results for the fourth quarter of 2022. 

ESAB Corporation reported fourth quarter sales of $664 million, an increase of 6% on a reported basis or 11% higher core organic growth before acquisitions and currency translation impacts. ESAB also reported fourth quarter GAAP net income from continuing operations attributable to ESAB of $59 million, $0.97 diluted earnings per share from continuing operations and core adjusted net income of $64 million, $1.05 diluted per share. Core adjusted EBITDA of $107 million rose 10% compared to $98 million in the prior year quarter.

“ESAB delivered a terrific fourth quarter, capping a strong year of performance,” said Shyam P. Kambeyanda, President and CEO, ESAB Corporation. “In 2022 we successfully launched as a public company. Our EBX business system accelerated our innovation, growth, margins, and cash flow. The team executed on our M&A strategy with the Ohio, Therapy Equipment and Swift-Cut acquisitions, strengthening our gas control and fabrication technology businesses. We fixed and extended half of our debt which strengthened our balance sheet and we made great progress on our ESG initiatives.”

Mr. Kambeyanda continued, “As a result of our 2022 performance, we are confident in the momentum and positioning of our business heading into 2023. We are off to a strong start to the year and are on track to deliver our long-term goals. I am very proud of our team for their commitment to our customers and successful execution of our strategy.”

ESAB 2023 Outlook

ESAB reported that it expects core organic growth of 3% to 5% and total core sales growth of 2% to 4% in 2023, which reflects approximately 2.5% of growth from acquisitions, and (3.5)% from currency headwinds. ESAB is expecting core adjusted EBITDA of $420 to $440 million, core adjusted EPS of $3.80 to $4.00 and cash conversion of greater than 90%.

About Swift-Cut and Therapy Equipment Acquisitions

Swift-Cut is a provider of light industrial cutting systems, which, combined with ESAB, provides a market-leading automated cutting product portfolio. Therapy Equipment (closed in January 2023) is a regional leader in oxygen regulators which expands ESAB’s gas control business. These acquisitions are expected to add approximately $20 million of revenue on an annual basis.

About ESAB Corporation

Founded in 1904, ESAB Corporation (NYSE: ESAB) is a world leader in connected fabrication technology and gas control solutions. Our rich history of innovative products and workflow solutions and our business system (EBX) allow us to realize our purpose of shaping the world we imagine. ESAB Corporation is based in North Bethesda, Maryland and employs approximately 9,000 associates and serves customers in approximately 150 countries. To learn more, visit