Lennox Q2 Profit Tops Estimates; Raises 2024 EPS Guidance

(RTTNews) - Lennox (LII) reported second quarter net income of $246 million, or $6.87 per share, compared to $217 million, or $6.10 per share, a year ago. Adjusted net income was $244 million, or $6.83 per share, compared to $219 million, or $6.15 per share, last year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $6.57, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenue was $1.45 billion, up 3% and up 8% for core operations, with organic revenue up 6% driven by price and favorable sales volume. Analysts on average had estimated $1.48 billion in revenue.

For full year 2024, the company reaffirmed revenue guidance of approximately 7%, with 2% of benefit from the AES acquisition. Earnings per share guidance range is $19.50 to $20.25, revised from the prior range of $19.00 to $20.00.

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