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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 Inc. (NYSE: LII) announced its financial guidance for 2023, projecting core revenue growth of 0-4%, GAAP EPS of $14.25-$15.25, and capital expenditures around $250 million. For 2026, the company targets core revenue of $5.0-$5.5 billion, with an EBIT margin of 18-20%. CEO Alok Maskara highlighted expected revenue growth, despite anticipated softness in residential units. The company plans to streamline operations and divest European holdings, aiming for improved margins through productivity and cost-reduction initiatives.
Lennox International Inc. (NYSE: LII) declared a quarterly cash dividend of $1.06 per share, payable on January 13, 2023, to stockholders of record as of December 30, 2022.
The annual meeting of stockholders is set for May 18, 2023, for stockholders of record on March 28, 2023. Lennox International is a leader in energy-efficient climate-control solutions, focusing on sustainability and innovation in cooling, heating, and air quality systems.
Lennox International (NYSE: LII) has appointed Gary Bedard as President of the Residential segment, effective January 1, 2023. He succeeds Doug Young, who retires on June 30, 2023, after 24 years at the company. Under Young, Residential revenue doubled to over $3 billion, and profit tripled to over $600 million.
The company is exploring strategic alternatives for its Refrigeration segment's European operations, consolidating it with the Commercial segment to accelerate growth.
Lennox International Inc. (NYSE: LII) announced that CEO Alok Maskara will present at the Deutsche Bank 2022 Industrials Conference in New York City on November 15, 2022, at 9:15 a.m. Eastern. Interested parties can access the presentation materials and live webcast via the company's official website. The company focuses on energy-efficient climate-control solutions, enhancing sustainability and comfort in residential and commercial environments. Lennox International is known for its innovative heating, cooling, and refrigeration systems.
Lennox International (NYSE: LII) announced that CEO Alok Maskara and CFO Joe Reitmeier will present at the Baird 2022 Global Industrial Conference in Chicago on November 8, 2022, at 9:40 a.m. Access to presentation materials and a live webcast is available on their website. Lennox is recognized for its energy-efficient climate-control solutions, focusing on sustainability and innovation in cooling, heating, indoor air quality, and refrigeration systems. More details about their offerings can be found at www.lennoxinternational.com.
Lennox International reported record Q3 2022 results with revenue of $1.24 billion, a 17% increase year-over-year. GAAP EPS reached $3.99, up 17%, while adjusted EPS rose 21% to $4.10. The company updated its 2022 EPS guidance, narrowing it to a range of $13.80-$14.20 due to supply chain challenges. Segment performance was robust, with Residential and Commercial revenues increasing by 17% and 20%, respectively. Notably, total segment profit rose 15% to $189 million.
Lennox Industries, through its Feel The Love program, partnered with 180 dealers to provide heating and cooling units to deserving community members at no cost. In its 13th year, the program delivered 210 HVAC installations across 37 U.S. states and Canadian provinces from October 8-15, 2022. Since its inception in 2009, Lennox has completed over 1,800 installations. The donated units enhance indoor air quality and reduce energy usage by up to 40%. Additionally, recipients receive extended warranties for peace of mind.
Lennox International Inc. (NYSE: LII) announced plans to report its third quarter 2022 financial results before the market opens on October 27, 2022. CEO Alok Maskara and CFO Joe Reitmeier will discuss the results during a conference call at 8:30 a.m. Central time, which can be accessed via phone or webcast. A replay will be available from 11:30 a.m. Central time on the same day until November 10, 2022. Lennox specializes in energy-efficient climate-control solutions, focusing on sustainability and innovation in climate technology.
Lennox International Inc. (NYSE: LII) will hold its 2022 Investment Community Meeting on December 14 in New York City at 8:30 a.m. ET. Key executives, including CEO Alok Maskara and CFO Joe Reitmeier, will discuss the company’s business strategy, strategic vision, and innovations in products. For those who cannot attend, a live webcast will be available on the company's website, which will also archive the event afterward.
Lennox specializes in energy-efficient climate control solutions for residential and commercial markets, emphasizing sustainability and innovation.
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