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Lennox International Inc. (NYSE: LII) is a global leader in energy-efficient climate control solutions, offering a wide range of products for heating, ventilation, air conditioning, and refrigeration (HVACR). Headquartered in Texas, Lennox operates primarily in North America, having divested its European businesses in late 2023.
Lennox's operations are divided into three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration. The residential segment provides furnaces, air conditioners, heat pumps, indoor air quality equipment, and comfort control products, primarily for the replacement and new construction markets. The commercial segment offers unitary heating and air conditioning equipment, applied systems, controls, and service for light commercial markets. The refrigeration segment delivers innovative products for retail food chains and other industrial applications.
In 2023, Lennox reported a revenue of $5 billion, with residential HVAC contributing 68% and commercial HVAC and Heatcraft refrigeration making up the remaining 32%. The company achieved significant financial successes, including a 20% increase in operating income and notable advancements in supply chain resiliency and factory production efficiency.
Lennox's commitment to innovation and sustainability is evident in its recent initiatives. The company has introduced the Lennox Ultimate Comfort System™ and the S40 Smart Thermostat, both recognized with industry awards for their advanced technology and design. Additionally, the transition to low global warming potential (GWP) refrigerants is a strategic move towards reducing environmental impact, with new products set to meet the 2025 refrigerant regulations.
In 2024, Lennox formed a joint venture with Samsung to offer ductless AC and heat pump products in the United States and Canada. This partnership capitalizes on the strengths of both companies, aiming to provide comprehensive HVAC solutions to a broader customer base.
Financially robust, Lennox reported record fourth-quarter revenue of $1.2 billion in 2023, with operating income up 41% to $185 million. The company projects continued growth in 2024, with anticipated revenue increases driven by price and favorable product mix.
For more information, visit www.lennox.com or contact Investor Relations at investor@lennox.com.
Lennox International (NYSE: LII) reported record revenue of $4.19 billion for 2021, marking a 15% increase. Q4 revenue reached $965 million, up 6%, though GAAP operating income fell to $98 million from $139 million year-over-year. GAAP EPS from continuing operations for Q4 was $2.27, down from $2.91. The company faced challenges from Covid-19 and supply chain disruptions. Despite the hurdles, Lennox anticipates revenue growth of 5-10% in 2022, with raised EPS guidance to $13.50-$14.50. Stock repurchases of $400 million are planned for the year.
Lennox International (NYSE: LII) will report its fourth quarter 2021 financial results on February 1, 2022, before the market opens. A conference call is set for the same day at 8:30 a.m. Central time, featuring comments from Chairman and CEO Todd Bluedorn and CFO Joe Reitmeier, followed by a Q&A session. Interested parties can join the call by dialing 844-291-6362 (U.S.) or 234-720-6995 (international) or by accessing the webcast on the company's website. A replay will be available until February 15, 2022.
The 2022 annual meeting of Lennox International is set for May 19, 2022, with stockholders of record as of March 28, 2022. Lennox International is a leader in energy-efficient climate-control solutions, focusing on sustainability and innovation across its air conditioning, heating, indoor air quality, and refrigeration systems. The company aims to create healthier environments while reducing carbon footprints. Lennox International trades under the stock symbol LII on the New York Stock Exchange.
Lennox International (NYSE: LII) announced its financial guidance for 2022, projecting revenue growth of 5-10% and GAAP EPS from continuing operations between $13.40 and $14.40. The company expects corporate expenses of approximately $95 million and capital expenditures around $125 million. For 2021, it maintains its guidance of 13-15% revenue growth and GAAP EPS between $11.97 and $12.17. Additionally, Lennox plans stock repurchases of $400 million for 2022 and $600 million for 2021. The company will discuss these insights during a virtual investment community meeting.
Lennox International Inc. (NYSE: LII) announced a quarterly cash dividend of $0.92 per share of common stock. This dividend is set to be paid on January 14, 2022, to stockholders of record as of December 31, 2021. This move reflects the company's ongoing commitment to returning value to its shareholders while maintaining its focus on leading in energy-efficient climate-control solutions.
Lennox International will host a virtual investment community meeting on December 15, 2021, at 9:00 a.m. Central time. Interested participants can register for the webcast by visiting www.lennoxinternational.com. Presentation materials will be accessible on the company's website on the morning of the meeting. As a leader in energy-efficient climate-control solutions, Lennox International, traded under the ticker LII, emphasizes sustainability and innovation in air conditioning and heating.
Lennox International announced that CFO Joe Reitmeier will virtually present at the Stephens Annual Investment Conference on November 29, 2021. Presentation materials will be accessible on the company's website at www.lennoxinternational.com. As a leader in energy-efficient climate-control solutions, Lennox focuses on sustainability and innovation, offering advanced systems for air conditioning, heating, and refrigeration. The company is publicly traded on the NYSE under the symbol LII.
Lennox International (NYSE: LII) reported a record third-quarter revenue of $1.06 billion, a modest increase year-over-year, affected by supply chain disruptions and Covid-19. GAAP operating income declined 3% to $163 million, with earnings per share at $3.41. Segment profit fell 7% to $165 million, while gross profit dropped 9% to $295 million. The company anticipates similar supply chain challenges in Q4, adjusting its full-year revenue growth forecast to 13-15% and EPS to $12.10-$12.30.
Lennox Industries, in partnership with HVAC dealers, successfully completed the Feel The Love Week, providing 130 HVAC units to deserving homeowners at no cost. This initiative took place across 37 U.S. states and 5 Canadian provinces during the second week of October 2021. The program, which has been running since 2009, aims to support individuals facing hardships, especially essential workers during the pandemic. Over the years, Lennox has installed more than 1,600 units, with each installation including a 3-year labor protection plan to ensure quality service.
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