Lennox Shares Trade Higher After 3Q Earnings Beat; Market Shrugs Off Lowered EPS Guidance
Lennox International overcame unfavorable weather conditions and hurricane-related business disruptions to post record third-quarter sales and earnings. The narrow-moat heating, ventilation, air conditioning, and refrigeration manufacturer increased third-quarter sales just over 4% year over year to $1.052 billion (versus the $1.036 billion consensus estimate), and adjusted EPS grew almost 9% to $2.53 (versus $2.45 consensus). However, the above-mentioned market headwinds, along with higher comm...Lennox International provides climate control solutions. The company designs, manufactures and markets products for the heating, ventilation, air conditioning and refrigeration markets. The company's segments are: Residential Heating and Cooling, which manufactures and markets furnaces, air conditioners, heat pumps, packaged heating and cooling systems, equipment and accessories, comfort control products, and replacement parts and supplies; Commercial Heating and Cooling, which manufactures and sells unitary heating and cooling equipment; and Refrigeration, which manufactures and markets equipment for the global commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name.
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