Welcome to our dedicated page for Lennox International news (Ticker: LII), a resource for investors and traders seeking the latest updates and insights on Lennox International stock.
Overview
Lennox International (NYSE: LII) is a renowned manufacturer and marketer of energy-efficient HVAC and refrigeration systems. By integrating cutting-edge technology and precision engineering, Lennox offers superior climate control solutions that serve both residential and commercial markets. This expertise in energy-efficient HVAC systems, climate control solutions, and refrigeration technology positions Lennox as a pivotal provider in the industry.
Business Operations
Lennox operates through distinct segments to address a broad range of customer needs. The residential segment focuses on furnaces, air conditioners, heat pumps, packaged heating and cooling systems, and essential indoor air quality equipment for both new construction and replacement markets. The commercial segment delivers unitary HVAC solutions, applied systems, and variable refrigerant flow products that cater to light commercial as well as larger systems. Additionally, the refrigeration segment complements the business by integrating innovative technologies to meet market demands.
Technological Innovation and Market Position
Innovation is central to Lennox's mission. The company continuously incorporates state-of-the-art technology to enhance efficiency and product performance. With a focus on advanced control systems, integrated smart solutions, and low global warming potential refrigerants, Lennox ensures its products are both environmentally friendly and highly effective. The commitment to meeting evolving industry standards underlines the company’s dedication to excellence and positions it as a trusted name in climate control solutions.
Competitive Differentiation
Lennox differentiates itself through robust engineering, meticulous product development, and a strategic approach to market distribution. Its suite of offerings is designed not only to provide exceptional comfort but also to address challenges such as rising energy costs and stringent environmental regulations. By leveraging partnerships and embracing innovations like smart compatibility and advanced variable refrigerant flow technology, Lennox maintains a strong competitive edge in a crowded market.
Customer Focus and Industry Expertise
The company places a strong emphasis on customer service and tailored solutions. With an extensive product portfolio that spans residential and commercial applications, Lennox meets the diverse demands of its customers. Its ongoing commitment to quality and efficiency reflects deep industry expertise and reinforces its reputation as a reliable provider of energy-efficient climate control solutions.
Conclusion
Through a distinguished focus on technological advancement, precise engineering, and customer service, Lennox International has established itself as a key contributor to the HVAC and refrigeration sectors. Its sustained commitment to energy efficiency and innovation continues to build lasting trust among customers and stakeholders, ensuring that its comprehensive range of climate control solutions remains ever relevant and exemplary.
Lennox (NYSE: LII) has announced two key corporate events. The company's board of directors has declared a quarterly cash dividend of $1.15 per share of common stock, payable on January 15, 2025, to stockholders of record as of December 31, 2024. Additionally, Lennox has scheduled its 2025 annual meeting of stockholders for May 22, 2025, with a record date of March 28, 2025.
Lennox (NYSE: LII) announces a strategic partnership with Contractor Commerce to provide exclusive e-commerce capabilities to its Premier Dealer network. The integration enables transparent HVAC system pricing and filter subscription services through dealer websites. Lennox Premier Dealers will be featured on the Lennox Dealer Locator, allowing consumers to purchase filters, subscribe to deliveries, and access system estimates directly. The partnership aims to meet growing homeowner demand for online HVAC solutions while maintaining professional installation standards.
Lennox Residential HVAC has launched the SL25KCV Air Conditioner, the most efficient air conditioner in the industry with up to 26.00 SEER2 rating. The new unit features Precise Comfort® technology for fine-tuned cooling and uses low GWP refrigerants, complying with upcoming EPA regulations effective January 1, 2025. A recent survey showed 81% of homeowners prioritize high-efficiency HVAC equipment, with 91% citing lower monthly bills as the main advantage. The SL25KCV operates at just 58 dB and includes features like SilentComfort™ technology, Quantum™ Coil technology, and digital communication capabilities when paired with the S40 Smart Thermostat.
Lennox (NYSE: LII) reported strong Q3 2024 results with revenue of $1.5 billion, up 15% in core revenue. The company achieved record operating income of $303 million and GAAP diluted EPS of $6.68, up 24%. Home Comfort Solutions segment revenue grew 15% to $1.0 billion, while Building Climate Solutions revenue increased 15% to $465 million. Net cash from operations reached $452 million, with free cash flow up 50% to $412 million. Based on strong performance, Lennox raised its full-year 2024 guidance, projecting 10% revenue growth and EPS of $20.75-$21.00.
Lennox (NYSE: LII) announced the retirement of Executive Vice President, Chief Legal Officer and Secretary John Torres, effective February 28, 2025, after 16 years with the company. Monica Brown, current Vice President and Deputy General Counsel, will succeed Torres as Executive Vice President, Chief Legal Officer and Secretary starting January 1, 2025. During his tenure, Torres led multiple strategic acquisitions and divestitures to strengthen Lennox's North American growth. Brown brings 12 years of experience at Lennox and previously spent 13 years in complex commercial litigation at a law firm.
Lennox's Feel The Love program, sponsored by the LII Lennox Foundation, marked its 15th anniversary by donating 413 HVAC units to deserving homeowners during Installation Week from October 5-12, 2024. Dealers across 45 U.S. states and several Canadian provinces installed the units free of cost for nominated recipients and local heroes facing financial challenges, illness, or other difficult circumstances.
The program aims to provide comfort through extreme weather conditions with energy-efficient HVAC solutions. Since its inception in 2009, Feel The Love has benefited over 2,750 families in need. The LII Lennox Foundation, established in 2023, supports this initiative as part of its commitment to improving communities where Lennox employees work and live.
Lennox (NYSE: LII), a leader in energy-efficient climate control solutions, has announced it will report its third quarter 2024 financial results before the market opens on Wednesday, October 23, 2024. The company will host an earnings conference call and webcast at 8:30 a.m. Central Time on the same day.
CEO Alok Maskara and CFO Michael Quenzer will provide a summary of the company's financial results and outlook, followed by a question-and-answer session. Interested parties can participate by calling 800-245-3047 (U.S.) or +1 203-518-9765 (international) using conference ID LIIQ324. The call will also be webcast live on Lennox's investor relations website.
A replay of the conference call will be available until October 30, 2024, and the call will be archived on the company's investor relations website.
Lennox (NYSE: LII) has announced a quarterly cash dividend of $1.15 per share of common stock. The dividend is set to be paid on October 15, 2024, to stockholders of record as of September 30, 2024. This decision was approved by the Lennox board of directors, demonstrating the company's commitment to returning value to its shareholders. The announcement, made on September 20, 2024, in Dallas, reflects Lennox's ongoing dividend policy and financial stability.
Lennox (NYSE: LII), a leader in innovative climate solutions, is set to celebrate its 25th anniversary of going public by ringing the closing bell at the New York Stock Exchange on July 29, 2024. Since its 1999 IPO, Lennox has transformed from a regional HVAC manufacturer to a global market leader in heating, cooling, and commercial refrigeration technologies.
Over the past quarter-century, Lennox has achieved significant growth, both financially and operationally. The company has received numerous accolades for product excellence and has positioned itself as a pioneer in sustainability through high-efficiency products. Financially, Lennox has reported six consecutive quarters of double-digit ROS expansion and EPS growth.
CEO Alok Maskara emphasized the company's commitment to innovation, excellence, and delivering value to shareholders and customers as the HVACR industry evolves.
Lennox (NYSE: LII) has won gold in three categories at the 2024 Dealer Design Awards, presented by The Air Conditioning, Heating, & Refrigeration News magazine. The awards recognize companies that enhance product performance and efficiency, as chosen by contractors. Lennox Commercial HVAC won gold for its Enlight High-Efficiency Dual Fuel Heat Pump, Advanced Distributor Products for the FlexCoil Evaporator Coil, and Heatcraft Refrigeration Products for the intelliGen Field Mount Kit.
The Enlight heat pump offers high efficiency ratings and intelligent operation. The FlexCoil is designed for all refrigerants, including low GWP R454B. The intelliGen kit allows for easy retrofitting of existing unit coolers with electronic control technology. Prakash Bedapudi, Lennox's Chief Technology Officer, emphasized the company's commitment to innovation and customer satisfaction.
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