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Lennox International Inc LII

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Lennox Raises Full-Year Guidance After a Blowout First-Quarter Performance

Analyst Note

| Brian Bernard, CFA, CPA |

Lennox is off to an excellent start in fiscal 2021. Strong demand for Lennox's residential heating and cooling products continued during the first quarter, and its other segments enjoyed a robust recovery. First-quarter revenue increased 29% year over year to approximately $931 million (18% above the FactSet consensus estimate) and adjusted EPS quadrupled year over year to $2.27 (easily beating the $1.31 consensus estimate).

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Company Profile

Business Description

Lennox International manufactures and distributes heating, ventilating, air conditioning, and refrigeration products to replacement (75% of sales) and new construction (25% of sales) markets. In fiscal 2020, residential HVAC was 65% of sales, commercial HVAC was 22%, and refrigeration accounted for the remaining 13% of sales. The company goes to market with multiple brands, but Lennox is the company’s flagship HVAC brand. The Texas-based company generates most of its sales in North America.

Contact
2140 Lake Park Boulevard
Richardson, TX, 75080
T +1 972 497-5000
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 10,300