Lennox International Inc. - LII STOCK NEWS

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.

Lennox International reported record first-quarter revenue of $1.01 billion, up 9%, and GAAP EPS of $2.29, up 4%. Adjusted EPS also reached a record $2.36, a 4% increase. The company raised its 2022 revenue growth guidance from 5-10% to 7-11%, while reiterating EPS guidance of $13.50-$14.50. However, GAAP operating income dropped 2% to $112 million, and total segment margin decreased 110 basis points to 11.3%. Stock repurchases amounted to $200 million for the quarter, with a full-year repurchase plan of $400 million.

Lennox International Inc. (NYSE: LII) has announced it will report its first quarter 2022 financial results on April 25, 2022, before market opening. A conference call will take place at 8:30 a.m. Central time, featuring Chairman Todd Teske and CFO Joe Reitmeier discussing the results and future outlook. Interested parties can listen by calling designated numbers or via the company’s website. A replay will be accessible from April 25 through May 9, 2022. Lennox International is a leader in energy-efficient climate-control solutions, focusing on sustainability and innovation.

Lennox International Inc. (NYSE: LII) has appointed Alok Maskara as its new CEO, effective May 9, 2022, succeeding Todd Bluedorn who led the company for 15 years. Todd J. Teske will serve as Chairman of the Board and interim CEO until Maskara takes over. Maskara brings over 25 years of experience, previously serving as CEO of Luxfer Holdings PLC (NYSE: LXFR) and holding various leadership roles at Pentair PLC and General Electric. The company also reaffirmed its financial guidance for 2022, emphasizing its commitment to energy-efficient climate control solutions and sustainable practices.

Lennox International Inc. (NYSE: LII) announced a quarterly cash dividend of $0.92 per share, payable on April 15, 2022, to stockholders recorded by March 31, 2022. This decision reflects the company's commitment to returning value to shareholders, denoting confidence in its ongoing operational performance.

Lennox International, a leader in energy-efficient climate-control solutions, aims to enhance sustainability while improving environmental quality.

Lennox Industries, based in Richardson, Texas, has unveiled a groundbreaking warranty program called Warranty Your Way™, offering three years of labor coverage at no extra cost for its heating and cooling products. This initiative addresses the common homeowner frustration regarding unexpected repair costs, where labor typically accounts for 85% of expenses. The program not only enhances customer confidence but also provides a competitive edge for dealers. Lennox aims to redefine HVAC warranties through this innovative offering, reinforcing its commitment to quality and customer satisfaction.

Lennox International, a leader in energy-efficient climate control solutions, will have CFO Joe Reitmeier present at the Barclays Industrial Select Conference on February 23, 2022, at 10:20 a.m. Eastern time. Interested parties can access a live webcast and presentation materials on the company's website. Lennox is committed to sustainability and innovation in HVAC systems, focusing on reducing carbon footprints for both residential and commercial customers. For further information, visit www.lennoxinternational.com.

Lennox International, a leader in energy-efficient climate control, announced that CFO Joe Reitmeier will speak at the Cowen 43rd Annual Aerospace/Defense & Industrials Conference on February 10, 2022, at 1:20 p.m. Eastern time. The presentation will be available via a live webcast on the company's website. Lennox is committed to sustainability through innovative air conditioning, heating, and refrigeration solutions, and is traded under the symbol LII on the NYSE.