Lennox Q1 Net Income Rises

(RTTNews) - Lennox (LII) reported first quarter net income of $124 million, or $3.47 per share, compared to $98 million, or $2.75 per share, a year ago. Adjusted net income was $124 million, or $3.47 per share, compared to $101 million, or $2.83 per share, last year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $3.16, for the quarter. Analysts' estimates typically exclude special items.

Revenue was $1.05 billion, flat with prior year, and up 6% for core operations, with organic revenue up 4% driven by price and favorable sales volume. Analysts on average had estimated $1.05 billion in revenue.

For full year 2024, the company reaffirmed revenue growth guidance of approximately 7%, with 2% of benefit from the AES acquisition. Earnings per share revised range is $19.00 to $20.00 versus the prior range of $18.50 to $20.00.

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