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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 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.
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.
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