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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) has announced that CEO Alok Maskara will present at the Jefferies Industrials Conference on August 9, 2022, in New York. CFO Joe Reitmeier and President/COO Gary Bedard of the Refrigeration segment will also attend. A live webcast of the presentation will start at 11:00 a.m. Eastern Time, with materials available on the company's website. Lennox is focused on energy-efficient climate-control solutions, striving for sustainability and innovation in air conditioning, heating, and refrigeration systems.
Lennox International reported record revenues of $1.37 billion for Q2 2022, marking a 10% increase year-over-year. GAAP EPS also rose 10% to $4.96, while adjusted EPS increased 9% to $5.00. The company repurchased $100 million of stock and paid $33 million in dividends. Despite inflation and supply chain challenges, Lennox raised its 2022 revenue growth guidance from 7-11% to 10-15% and adjusted EPS guidance from $13.50-$14.50 to $13.80-$14.50.
Lennox International (NYSE: LII) has announced its plans to report second quarter 2022 financial results on July 28, 2022. The report will be followed by a conference call at 8:30 a.m. Central time, featuring CEO Alok Maskara and CFO Joe Reitmeier, who will discuss the results and corporate outlook. Interested participants can join the call by dialing 877-226-8216 for U.S. callers or 409-207-6983 for international callers. A replay will be available until August 11, 2022. The company emphasizes its commitment to energy-efficient climate-control solutions.
The board of directors of Lennox International (NYSE: LII) has declared a quarterly cash dividend of $1.06 per share. This dividend is scheduled for payment on September 15, 2022, to stockholders of record as of August 31, 2022. This announcement reflects the company's commitment to returning value to its shareholders while maintaining its position as a leader in energy-efficient climate-control solutions.
Lennox International Inc. (LII) has achieved a significant milestone as the first HVAC manufacturer to meet the objectives of the U.S. Department of Energy's Cold Climate Heat Pump Technology Challenge. This recognition highlights Lennox's commitment to innovation and energy efficiency, potentially allowing homeowners to save up to $500 annually on utility bills. The initiative aims to enhance heating and cooling solutions for colder climates while significantly reducing greenhouse gas emissions. Lennox's efforts align with their long-standing dedication to sustainability and environmentally friendly products.
Lennox International Inc. (NYSE: LII) announced that CEO Alok Maskara and CFO Joe Reitmeier will present at the William Blair 42nd Annual Growth Stock Conference in Chicago on June 9. The presentation will start at 10:40 a.m. Central time, with materials available on the company website. Lennox International is a leader in energy-efficient climate-control solutions, focusing on sustainability while providing residential and commercial customers with innovative heating, air conditioning, and refrigeration systems.
Lennox International announced that CEO Alok Maskara and CFO Joe Reitmeier will host investor meetings on June 2, 2022, at the KeyBanc Capital Markets 22nd Annual Industrials & Basic Materials Conference in Boston. Investors can access presentation materials on the company’s website. Lennox is a leader in energy-efficient climate-control solutions, focusing on sustainability and reducing carbon footprints through innovative air conditioning, heating, indoor air quality, and refrigeration systems. The company is traded on the NYSE under the symbol LII.
Lennox International (LII) has announced a 15% increase in its quarterly cash dividend, raising it to $1.06 per share. This dividend will be payable on July 15, 2022, to shareholders recorded by June 30, 2022. This strategic move reflects the company's commitment to rewarding its shareholders while maintaining a focus on sustainability and innovative climate-control solutions.
Lennox International (NYSE: LII) has appointed Joe Nassab as President and Chief Operating Officer of North America Commercial Heating & Cooling, effective May 4, 2022. He replaces Elliot Zimmer, who is leaving after 12 years. Nassab brings a proven track record, having led Allied Air to 10% annual revenue growth and 23% earnings growth over the past decade. Despite challenges in production due to labor constraints and supply chain issues, the company aims for operational improvements and growth in the commercial HVAC market.
Lennox Industries has opened nominations for its annual Feel The Love program until August 31, 2022, inviting residents of the U.S. and Canada to nominate deserving community members for free heating or cooling equipment. The program, now in its 13th year, emphasizes the importance of indoor air quality. In partnership with local HVAC dealers, Lennox aims to provide clean air access to those in need, with installations planned for October 8-15, 2022. Since 2009, over 1,500 installations have been completed.
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