Lennox said net sales for Q3 2024 rose 10% year over year to $1,498 million, and operating income increased $117 million to $303 million. Diluted earnings per share were $6.68, compared with $3.65 in the same period a year earlier.

10-QQuarterly reportFiled Oct 23, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Lennox said net sales for Q3 2024 rose 10% year over year to $1,498 million, and operating income increased $117 million to $303 million. Diluted earnings per share were $6.68, compared with $3.65 in the same period a year earlier.
The company said gross profit margin for Q3 was 32.6%, up 120 basis points from 31.4% a year earlier, and that favorable price and mix contributed 250 basis points. It also said that higher sales volumes of 9%, favorable price and mix of 4% and the AES acquisition of 2% increased net sales, while the sale of its European businesses reduced them by 5%.
Lennox said Home Comfort Solutions net sales in Q3 rose 15% and segment profit increased $45 million, while Building Climate Solutions net sales rose 15% and segment profit increased $9 million. It said its European businesses, which were sold in 2023, generated net sales of $65 million and segment profit of $4 million in Q3 of the prior year.
The company said its debt-to-total-capital ratio fell to 60% as of September 30, 2024 from 82% as of December 31, 2023, and that it had $243.1 million in cash and cash equivalents. $1.1 billion under its credit agreement had no outstanding borrowings, and it paid $119 million in dividends over the 9 months ended 2024.

Key figures

Quarter ended September 30, 2024

Revenue: $1.5B
Operating income: $303M
Net income: $239M
EPS: $6.68
Gross profit: $488M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 2024 net sales, operating income and diluted earnings per share

Lennox said net sales for Q3 2024 rose 10% year over year to $1,498 million, and operating income increased $117 million to $303 million. Diluted earnings per share were $6.68, compared with $3.65 in the same period a year earlier.

Source · Based on the MD&A text of the filing

Q3 Gross Margin and Net Sales Drivers

The company said gross profit margin for Q3 was 32.6%, up 120 basis points from 31.4% a year earlier, and that favorable price and mix contributed 250 basis points. It also said that higher sales volumes of 9%, favorable price and mix of 4% and the AES acquisition of 2% increased net sales, while the sale of its European businesses reduced them by 5%.

Source · Based on the MD&A text of the filing

Q3 segment net sales and segment profit changes

Lennox said Home Comfort Solutions net sales in Q3 rose 15% and segment profit increased $45 million, while Building Climate Solutions net sales rose 15% and segment profit increased $9 million. It said its European businesses, which were sold in 2023, generated net sales of $65 million and segment profit of $4 million in Q3 of the prior year.

Source · Based on the MD&A text of the filing

Debt-to-Capital Ratio, Credit Facility and Shareholder Returns

The company said its debt-to-total-capital ratio fell to 60% as of September 30, 2024 from 82% as of December 31, 2023, and that it had $243.1 million in cash and cash equivalents. $1.1 billion under its credit agreement had no outstanding borrowings, and it paid $119 million in dividends over the 9 months ended 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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