Lennox Q2 record revenue $1.41B, EPS $6.10; raises FY guidance to $15.50-$16.00

LENNOX INTERNATIONAL INC

2023-Q2 EPS reported $8.85 revenue$2,460,700,000

Revenue $1.41B (+3%), operating income $279M (+23%), GAAP diluted EPS $6.10 (+23%).
Adjusted EPS $6.15 (+22%), adjusted segment profit margin 20.9% (+320 bps).
Commercial segment revenue +24%, profit +150% to $103M; Residential revenue -4% due to destocking.
Raised FY2023 guidance: core revenue +2-4% (prev flat-4%), EPS $15.50-$16.00 (prev $14.25-$15.25).
Operating cash flow $196M (+101%); total debt $1.6B; European ops classified as non-core.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LENNOX INTERNATIONAL INC reported second quarter of 2023 results: revenue $1.41 billion, net income $217.2 million, EPS $6.10 per share.

Period: second quarter of 2023
Revenue: $1.41 billion
Net income: $217.2 million
EPS: $6.10 per share
Result: reported results

Exact text from the filing

Revenue: $1.41 billion; Core revenue, which excludes our European operations, was $1.34 billion, up 3%. Revenue growth was driven by price and favorable mix and partially offset by lower sales volumes. Operating Income: $279 million with operating profit margin of 19.8%. Adjusted Segment Profit: $281 million, up 22%, and adjusted segment profit margin of 20.9%, up 320 basis points. Adjusted segment profit increased $50 million as $106 million of price and mix benefits were partially offset by lower sales volumes and inflationary impacts on SG&A and distribution costs. Net Income: $217.2 million, or $6.10 per share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LENNOX INTERNATIONAL INC reported full year of 2023 results: EPS $15.50 to $16.00. Guidance raised.

Period: full year of 2023
EPS: $15.50 to $16.00
Guidance: raised
Result: guidance update

Exact text from the filing

For the full year of 2023, we now expect core revenue to be up 2% to up 4% (previous: flat to up 4%) and we expect earnings per share of $15.50 to $16.00 (previous: $14.25 to $15.25).

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Source: SEC EDGAR

accession 0001628280-23-025808

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