Lennox reports lower first-quarter profit as higher costs and weak home construction weigh
Updated
Updated · MarketWatch · Apr 29
Lennox reports lower first-quarter profit as higher costs and weak home construction weigh
6 articles · Updated · MarketWatch · Apr 29
Net income fell to $117 million, or $3.35 per share, from $130 million last year, despite revenue rising 6% to $1.14 billion.
The home comfort segment declined 10% due to slow new home construction, while building climate solutions revenue surged 38% on strong emergency replacement demand and new national accounts.
Lennox raised its full-year revenue growth guidance to about 8% but maintained adjusted earnings guidance, as commercial business growth partially offsets residential market weakness.
As profits dip but commercial sales soar, what is Lennox’s next strategic move?
Can Lennox and the HVAC industry meet the explosive cooling demand from AI data centers?
Will rising compliance and material costs lead to permanently higher HVAC prices for everyone?
With federal heat pump credits expired, can new state rebates sustain consumer demand?
Did costly new refrigerant rules give early-adopting companies a competitive market advantage?
How vulnerable is the US HVAC supply chain to global trade and resource politics?