Lennox said revenue for Q4 2023 rose 6% to $1.2 billion, GAAP diluted earnings per share was $4.04, and adjusted diluted earnings per share was $3.63. Core revenue, excluding European operations, grew 7% to $1.1 billion.

1. 01

   Lennox said revenue for Q4 2023 rose 6% to $1.2 billion, GAAP diluted earnings per share was $4.04, and adjusted diluted earnings per share was $3.63. Core revenue, excluding European operations, grew 7% to $1.1 billion.

2. 02

   The company said revenue for the Building Climate Solutions segment in Q4 rose 19% to $390 million, and segment profit increased 98% to $91 million. It said segment margin expanded 930 basis points to 23.2%.

3. 03

   Lennox said operating cash flow for 2023 was $736 million, compared with $302 million in the prior year, and capital expenditures were $250 million, compared with $101 million in the prior year. The company cited the new commercial factory investment in Saltillo, Mexico, and investments required for the low GWP transition as drivers of the increase in capital expenditures.

4. 04

   Lennox said it expects core revenue for 2024 to increase by approximately 7%. It also expects adjusted earnings per share to be within the range of $18.50 to $20.00, capital expenditures of approximately $175 million, and free cash flow within the range of $500 million to $600 million.

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Original filing

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