Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Lennox International Sales Up, Led By Residential HVAC
Apr 29, 2013
 Printable format
 Email this Article
 Search

Lennox International Inc. reported financial results first quarter 2013 revenue of $668 million, up 9% from the first quarter of 2012.

Lennox International adjusted its financial results for discontinued operations related to previously announced plans to sell its Service Experts business. The transaction was completed March 22, 2013.

Gross profit in 1Q 2013 was $162 million, up 15% from 1Q 2012. Gross margin was 24.2%, up 130 basis points from 22.9% in 1Q 2012. Higher volumes, a good price mix, and lower materials costs helped boost profit, but were partially offset by investments in distribution.

Income from continuing operations in 1Q 2013 was $17.0 million, up from $9.8 million, in 1Q 2012.

On a GAAP basis, income from continuing operations for the first quarter was $15.8 million, up from $9.3 million in 1Q 2012.

The loss from discontinued operations--the divested Service Experts business--in 1Q 2013 was $7.8 million, compared to a loss of $15.4 million in 1Q 2012.

"Growth continued across all three of our businesses in the first quarter with strong operational execution driving revenue up 9% and EPS up more than 70%," said Todd Bluedorn, chairman and CEO of Lennox International. "Our Residential business continued to lead our growth on the strength of new construction and our growth initiatives in the replacement market. Residential revenue was up 15% in the first quarter and margin expanded 250 basis points to drive segment profit up 86%. In our Commercial business, revenue was up 4%, led by strong growth in national account services. Commercial profit was up 34% as margin expanded 150 basis points. Refrigeration revenue was up 4% at constant currency on double-digit growth in Asia Pacific and South America. Refrigeration margin expanded 100 basis points, and profit grew 18%.

Lennox International revised its revenue growth guidance, from the previously announced 2-6% to a range of 3-6%.

Back to Daily News

 

Daily News

...........................................................

Oct 2, 2014: Canadian HVAC/R wholesaler sales down 0.8% in August

Oct 1, 2014: Whirlpool on Manufacturing Day: on track to exceed $1 billion U.S. investment goal

Oct 1, 2014: Commercial appliance spending and other restaurant capital spending solid in August

Oct 1, 2014: Appliance maker Gorenje is first Slovenian company with a European Works Council

Oct 1, 2014: HVAC/R contractors positive about short-term growth

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows