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Lennox Intl Residential HVAC Up 9% in 3Q
Oct 25, 2012
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HVAC/R OEM Lennox International Inc. (Dallas) reported that third quarter 2012 revenue was $810 million, up 1% from 3Q 2011 (up 3% at constant currency).

Gross profit for Lennox International overall in the third quarter was $205 million, up 10% from 3Q 2011. Adjusted income from continuing operations was $49.7 million, from $41.9 million in 3Q 2011.

"Our Residential business continued its strong growth in both replacement and new construction markets in the third quarter, with revenue up 9% and profit up 20%," said Lennox International Chairman and CEO Todd Bluedorn. 3Q 2012 revenue in the Residential Heating & Cooling business segment was $386 million, up 9% from 3Q 2011.

Revenue in the Commercial Heating & Cooling segment was $220 million in 3Q 2012, down 2% from 3Q 2011. At constant currency, revenue was up 1%.

Revenue in the Refrigeration segment was $204 million in 3Q 2012, down 9% 3Q 2011. At constant currency, revenue was down 6%.

"Looking ahead, we expect our momentum in Residential to continue," Bluedorn said. "Backlog and order rates in our Commercial and Refrigeration businesses look solid overall, and we expect an improved national account environment in the fourth quarter."

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