US Market News
5 days ago
Lennox Marks One-Year Anniversary of Ariston Joint Venture with Strong Water Heater LaunchJune 25, 2026 7:53 AM
PR Newswire (US) DALLAS, June 25, 2026 /PRNewswire/ -- Lennox (NYSE: LII), a leader in energy-efficient building and home comfort solutions, is marking the one-year anniversary of its joint venture with Ariston Group, a global leader in water heating and sustainable thermal comfort. In its first year, the partnership introduced a line of residential gas, electric, and heat pump water heaters in North America, expanding Lennox's home comfort portfolio and establishing a foundation for growth.Announced in 2025, the joint venture was created to broaden Lennox's product offering especially through complementary heat pump technologies, while leveraging Ariston's water heating expertise amid ongoing industry convergence."During the past year, we've entered the water heating category by prioritizing dealer training and integration with our existing distribution network and controls platform," said Sarah Martin, EVP & President of Lennox Home Comfort Solutions. "Early results have proven successful, and now we are focused on scaling distribution, expanding product availability, and increasing share across both HVAC and plumbing channels."Successful Product Launch with Strong Dealer AdoptionThe Lennox residential water heater lineup includes energy-efficient models designed to integrate with broader home comfort systems. Experience the Lennox water heater lineup showcased in the featured video.All models feature heavy-gauge steel construction and a PermaClad™ glass lining for corrosion protection. Select models also include a magnesium or aluminum anode rod paired with our SediMotion™ system to help reduce sediment buildup, FillSafe Protection™ to safeguard internal components if the tank is not properly filled, and Lennox Lock™ for flammability protection.Compatible systems can be managed through the Lennox Home Comfort app, enabling homeowners to monitor and control their hot water from a single platform.Dealer response during the initial launch period indicates strong early adoption with sales and demand exceeding plans, reflecting dealer interest in sourcing multiple product categories through a single, trusted supplier and expanding their service capabilities.Looking AheadLennox and Ariston are focused on scaling the business across North America, particularly in underpenetrated U.S. regions. Key priorities include:Expanding Lennox store locations carrying water heatersScaling distribution through Lennox's HVAC distribution networkContinuing to support training and adoption needs of Lennox dealersThe joint venture also positions Lennox to address demand for high-efficiency and heat pump water heaters as regulatory changes are expected to influence product adoption."In the first year, we rapidly introduced a comprehensive water heating product portfolio, thanks to strong collaboration and commitment between the partners, combined with Ariston's distinctive global water heating know-how," said Maurizio Brusadelli, Chief Executive Officer of Ariston Group. "We will continue to invest in innovation and high-efficiency solutions in the North American market to meet evolving customer needs." With strong initial traction and continued investment in distribution and product development, Lennox and Ariston are focused on expanding their North American presence in the water heating category and supporting dealers with a broader set of solutions.About Lennox Lennox (NYSE: LII) is a leader in energy-efficient building solutions and is committed to creating healthier and more comfortable environments. Serving residential and commercial customers, the company delivers innovative heating, cooling, indoor air quality, refrigeration, and water heating systems. Through trusted products, parts, and services, and advanced technology, Lennox delivers connected solutions that support the full lifecycle of customer needs. Additional information is available at www.lennox.com. Media inquiries may be directed to PR@lennox.com.About Ariston Group Ariston Group (Bloomberg: ARIS IM) is a global leader in sustainable climate and water comfort, listed on Euronext Milan. In 2025 the Group reported 2.7 billion-euro revenues, with almost 11,000 employees, a direct presence in 41 countries across 5 continents, 32 production sites, and 31 research and development centres. The Group demonstrates its commitment to sustainability through renewable and high-efficiency solutions, including heating heat pumps, water heating heat pumps, hybrid systems, domestic ventilation, air handling, electric components, and solar thermal systems, while continuously investing in technological innovation, digitalization, and advanced connectivity solutions. The Group operates under the global strategic brands Ariston, Wolf, and Elco, as well as brands such as Calorex, NTI, Atag, Domotec, Brink, Chromagen, Racold, and Thermowatt and Ecoflam in the components and combustion technologies business. View original content to download multimedia:https://www.prnewswire.com/news-releases/lennox-marks-one-year-anniversary-of-ariston-joint-venture-with-strong-water-heater-launch-302809737.htmlSOURCE Lennox International Inc. Original: Lennox Marks One-Year Anniversary of Ariston Joint Venture with Strong Water Heater Launch
US Market News
2 months ago
Lennox Opens 2026 Feel The Love® Nominations to Honor Community HeroesMay 4, 2026 9:03 AM
PR Newswire (US)
Nominations are now open for individuals who give back to their communities and need support replacing critical home comfort systemsDALLAS, May 4, 2026 /PRNewswire/ -- Lennox (NYSE: LII), a leader in reliable home comfort solutions, today announced that nominations are open for the 2026 Feel The Love® program, sponsored by the LII Lennox Foundation. Through its trusted dealer network across the United States and Canada, Lennox will donate and professionally install new heating and cooling systems for individuals who are pillars of their communities and need dependable home comfort. Nominations are open through August 31, 2026, at FeelTheLove.com."Feel The Love reflects who we are at Lennox, deeply committed to people, craftsmanship, and doing what's right," said Sarah Martin, EVP & President of Lennox Home Comfort Solutions. "Each nomination represents someone who consistently shows up for others. Alongside our dealer partners, we're proud to help bring reliable, high-quality comfort to their homes."Now in its 17th year, Feel The Love is a cornerstone of Lennox's community impact efforts. Since the program began in 2009, Lennox and its dealers have donated and installed more than 3,100 heating and cooling systems, helping homeowners facing significant challenges.This year's Feel The Love Installation Week will take place October 3–11. During that time, selected recipients will receive up to a full heating and cooling system at no cost, including high-efficiency Lennox Merit equipment like air conditioners, heat pumps, furnaces, and thermostats, installed by local dealers who donate their time and expertise. Nominees include educators, veterans, healthcare professionals, first responders, caregivers, and families navigating unexpected medical or financial hardships. In addition, 501(c)(3) nonprofits are also accepted as Feel The Love program nominees (though they must be able to take residential HVAC equipment).Community members are encouraged to submit nominations for individuals who put others first and would benefit from safe, reliable, and energy-efficient home comfort. To learn more or submit a nomination, visit FeelTheLove.com. Updates throughout the program will be shared on Lennox's Facebook, Instagram, and LinkedIn channels.About LennoxLennox (NYSE: LII) is a leader in energy-efficient building solutions and is committed to creating healthier and more comfortable environments. Serving residential and commercial customers, the company delivers innovative heating, cooling, indoor air quality, refrigeration, and water heating systems. Through trusted products, parts, and services, and advanced technology, Lennox delivers connected solutions that support the full lifecycle of customer needs. Additional information is available at www.lennox.com. Media inquiries may be directed to PR@lennox.com. About Feel The Love®Launched in 2009, Feel The Love is Lennox Residential HVAC's signature community-giving program. Each year, Lennox partners with local dealers and community members across the United States and parts of Canada to identify and support individuals who exemplify service to others and are in need of a helping hand. The LII Lennox Foundation proudly sponsors the Feel The Love program. Learn more at FeelTheLove.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lennox-opens-2026-feel-the-love-nominations-to-honor-community-heroes-302760893.htmlSOURCE Lennox International Inc.
Original: Lennox Opens 2026 Feel The Love® Nominations to Honor Community Heroes
US Market News
2 months ago
Lennox Reports 2026 First Quarter ResultsApril 29, 2026 6:45 AM
PR Newswire (US)
Highlights
(All comparisons are year-over-year, unless otherwise noted)Revenue $1.1 billion, up 6%GAAP Operating Income $164 million, down 3%GAAP diluted EPS $3.35, down 8%Maintaining full year EPS guidance range of $23.50 - $25.00DALLAS, April 29, 2026 /PRNewswire/ -- Lennox (NYSE: LII), a leader in energy-efficient building and home comfort solutions, today reported first quarter financial results with $1.1 billion of revenue, $164 million of operating income, and $3.35 GAAP diluted earnings per share.Revenue increased 6% to $1.1 billion. Total segment profit1 was $164 million, down 3%. Total segment margin1 was down 130 basis points to 14.4%. Adjusted diluted earnings per share decreased 8% to $3.35."Our results this quarter were supported by stabilizing end-markets and encouraging momentum across our strategic initiatives, including the integration of Duro Dyne and Supco. We remain confident in our strategy to deliver long-term shareholder value through differentiated growth and bolt-on M&A opportunities," said CEO, Alok Maskara. "While macro uncertainties persist, we are focused on productivity measures, supply chain optimization, and thoughtful pricing actions to offset inflationary pressures."In Home Comfort Solutions, industry conditions started stabilizing during the first quarter, as expected. Revenue declined by 10%. While the segment experienced continued softness across both the one step and two step channels, this is a sequential improvement from the 21% decline in the fourth quarter. One-step results continued to be impacted by weak new home construction, while sentiment in the two-step channel improved as distributors began to restock ahead of the summer season. Segment margins declined 390 bps primarily driven by inflation and unfavorable absorption, partially offset by positive mix and price, acquisition contributions, and disciplined cost actions.The Building Climate Solutions segment delivered another strong quarter, with organic sales increasing 26% and acquisitions contributing an additional 12% of growth. Segment margins improved by approximately 300 basis points, largely driven by volume improvement, including contributions from national account activity. Emergency replacement activity remained strong, and there were new national account wins across both equipment and service. As inventory levels normalize, the resulting absorption impact was partially offset by productivity and manufacturing efficiency improvements.1 Includes unallocated corporate expensesFIRST QUARTER 2026 FINANCIAL HIGHLIGHTS
(All comparisons are year-over-year, unless otherwise noted)Revenue: $1.1 billion was up 6%, driven by revenue from completed acquisitions.Operating Income: $164 million, down 3%, with operating profit margin of 14.4%, down 130 bps.Total Segment Profit1: $164 million, down 3%, and total segment profit margin of 14.4%, down 130 basis points primarily driven by $32 million decrease from lower sales volumes; $31 million product cost primarily related to recent inflationary impacts and factory under absorption; and, $14 million of SG&A and distribution inflation and investments. This was partially offset by $63 million of mix/price benefits and $9 million from completed acquisitions.Net Income: $117 million, or $3.35 per share, compared to $130 million, or $3.63 per share, in the prior-year quarter.Adjusted Net Income: $117 million, or $3.35 per share, compared to $130 million, or $3.63 per share, in the prior-year quarter.Cash Flow: Operating cash flow was $16 million compared to $36 million cash used in the prior-year quarter driven by less inventory growth. Net capital expenditures were $55 million compared to $25 million in the prior-year quarter. Share repurchases totaled $20 million.Home Comfort Solutions: Business segment revenue was $650 million, down 10%. Segment profit was $87 million, down 30%, and segment margin was 13.3%, down 390 basis points. Segment profit declined $37 million compared to the prior-year quarter. The decrease was driven by lower sales volumes, resulting in a $56 million profit headwind, along with $23 million of product cost inflation and lower factory absorption and $1 million in other costs. This was partially offset by $41 million in mix/price benefits and $2 million from completed acquisitions.Building Climate Solutions: Business segment revenue was $485 million, up 38%. Segment profit was $96 million, up $37 million or 63%, and segment margin improved 300 basis points to 19.7%. This increase reflects a $24 million profit benefit from higher sales volumes, $22 million in mix/price benefits, and $7 million from completed acquisitions. This was partially offset by $8 million in product cost inflation and lower factory absorption; and $8 million from other costs, including SG&A and distribution inflation and investments.Corporate and Other: Corporate expenses were $19 million, up $4 million from the prior-year quarter.1 Includes unallocated corporate expensesFULL YEAR 2026 GUIDANCE
For full year 2026, we are updating revenue growth guidance to approximately 8%, including 4% benefit from completed acquisitions.Earnings per share is still expected to be within the range of $23.50 to $25.00.Free Cash Flow is still estimated to be within the range of $750 million to $850 million.CONFERENCE CALL INFORMATION
A conference call to discuss the company's first quarter results will be held this morning at 8:30 a.m. Central Time. To participate in the earnings conference, please call 800-267-6316 (U.S.) or +1 203-518-9783 (international) at least 10 minutes prior to the scheduled start time and use conference ID LIIQ126. The conference call also will be webcast live on the company's investor relations web site at investor.lennox.com. A replay of the conference call will be available until May 6, 2026, by calling toll-free 800-388-6197 (U.S.) or +1 402-220-1115 (international). The call will also be archived on the company's investor relations website at investor.lennox.com.ABOUT LENNOX
Lennox (NYSE: LII) is a leader in energy-efficient building solutions and is committed to creating healthier and more comfortable environments. Serving residential and commercial customers, the company delivers innovative heating, cooling, indoor air quality, refrigeration, and water heating systems. Through trusted products, parts, and services, and advanced technology, Lennox delivers connected solutions that support the full lifecycle of customer needs. Additional information on Lennox is available at Lennox.com or by contacting investor@lennox.com.FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES
The statements in this document that are not historical statements, including statements regarding the 2026 full-year outlook and expected consolidated and segment financial results, as well as financial targets for future years, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available as well as management's assumptions and beliefs today. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the statements, and investors should not place undue reliance on them. Risks and uncertainties that could cause actual results to differ materially from such statements include risks that the North American HVAC and refrigeration markets perform worse than current assumptions. Additional risks include but are not limited to competition in the HVACR business; our ability to successfully develop and market new products or execute our business strategy; our ability to meet and anticipate customer demands; our ability to continue to license or enforce our intellectual property rights; our ability to attract, motivate, develop, and retain our employees, as well as labor relations problems; artificial intelligence technologies; a decline in new construction activity and related demand for our products and services; the impact of weather on our business; the impact of higher raw material prices and significant supply interruptions; product liability, warranty claims, or recalls; changes in environmental and climate-related legislation or government regulations or policies; changes in tax legislation; the impact of new or increased trade tariffs; improper conduct by any of our employees, agents, or business partners; litigation risks; general economic conditions in the United States and abroad; extraordinary events beyond our control; risks associated with our international operations; cyber-attacks and other disruptions or misuse of information systems; and our ability to successfully realize, complete and integrate acquisitions.For information concerning these and other risks and uncertainties, see LII's publicly available filings with the Securities and Exchange Commission. LII disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.A reconciliation of non-GAAP financial measures appearing in this document to financial measures prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) are included in the Annex to this document.This document includes forward-looking statements regarding segment profit, adjusted net income, adjusted diluted earnings per share, and free cash flow, which are non-GAAP financial measures. These non-GAAP financial measures are derived by excluding certain amounts from the corresponding financial measures determined in accordance with GAAP. The determination of the amounts excluded is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period and the high variability of certain amounts, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, changes in environmental liabilities, the impact and timing of potential acquisitions and divestitures, future restructuring costs, and other structural changes or their probable significance. We are unable to present a quantitative reconciliation of the aforementioned forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. The unavailable information could have a significant impact on LII's full year GAAP financial results.LENNOX INTERNATIONAL INC. AND SUBSIDIARIESConsolidated Statements of Operations (Unaudited)
(Amounts in millions, except per share data)For the Three Months
Ended March 31,
2026
2025Net sales$ 1,135.1
$ 1,072.6Cost of goods sold783.8
731.7Gross profit351.3
340.9Operating Expenses:
Selling, general and administrative expenses185.2
171.3Losses and other expenses, net2.2
2.8Loss (income) from equity method investments0.4
(1.2)Operating income163.5
168.0Pension settlements0.5
0.1Interest expense, net15.2
6.2Other expense, net0.9
0.9Net income before income taxes146.9
160.8Provision for income taxes29.7
31.2Net income$ 117.2
$ 129.6
Earnings per share – Basic(1):$ 3.37
$ 3.65
Earnings per share – Diluted(1):$ 3.35
$ 3.63
Weighted Average Number of Shares Outstanding - Basic34.8
35.5Weighted Average Number of Shares Outstanding - Diluted35.0
35.7
(1) Amounts may not recalculate due to rounding.
Note: The 2025 amounts are adjusted to reflect the accounting method change from LIFO to FIFO that occurred in the fourth quarter of 2025. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESSegment Net Sales and Profit(Unaudited)
(Amounts in millions) For the Three Months
Ended March 31,
2026
2025Net Sales
Home Comfort Solutions$ 650.0
$ 721.4Building Climate Solutions485.1
351.2Total net sales$ 1,135.1
$ 1,072.6
Segment Profit(1)
Home Comfort Solutions$ 86.5
$ 123.9Building Climate Solutions95.6
58.8Total segment profit182.1
182.7Corporate and other expenses(2)(18.6)
(14.7)Total segment profit, including unallocated Corporate and other expenses163.5
168.0Reconciliation to Operating income:
Restructuring charges—
—(Gain) loss on sale from previous dispositions—
—Acquisition costs—
—Operating income$ 163.5
$ 168.0
(1) We define segment profit as a segment's operating income (loss) included in the accompanying Consolidated Statements of Operations, excluding:
Restructuring charges,Gain (loss) on sale of previous dispositions, and;Acquisition costs (2) Corporate and other expenses include unallocated corporate costs related to corporate administrative functions such as tax, treasury, accounting, internal audit, legal and human resources.
Note: The 2025 amounts are adjusted to reflect the accounting method change from LIFO to FIFO that occurred in the fourth quarter of 2025. LENNOX INTERNATIONAL INC. AND SUBSIDIARIES Consolidated Balance Sheets
(Amounts in millions, except shares and par values)As of March 31, 2026
As of December 31, 2025
(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents$ 48.2
$ 34.2Short-term investments2.0
0.5Accounts and notes receivable, net of allowances of $9.1 and $8.5 in 2026 and
2025, respectively647.9
578.8Inventories, net1,209.7
1,152.6Other current assets124.3
137.7Total current assets2,032.1
1,903.8Restricted cash equivalents19.0
18.5Property, plant and equipment, net of accumulated depreciation of $1,064.3 and
$1,043.9 in 2026 and 2025, respectively917.6
887.2Right-of-use assets from operating leases404.4
356.3Goodwill503.7
497.2Intangible assets, net of accumulated amortization of $42.4 and $38.3 in 2026
and 2025, respectively269.7
273.0Deferred income taxes12.6
12.9Other assets, net133.6
132.9Total assets$ 4,292.7
$ 4,081.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable$ 464.6
$ 438.0Accrued expenses301.5
374.2Income taxes payable63.4
46.4Commercial paper361.0
226.0Current maturities of long-term debt18.2
18.3Current operating lease liabilities83.8
88.9Total current liabilities1,292.5
1,191.8Long-term debt1,144.1
1,144.1Long-term operating lease liabilities347.8
293.4Pensions19.4
18.7Other liabilities275.0
270.7Total liabilities3,078.8
2,918.7Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares issued
or outstanding—
—Common stock, $0.01 par value, 200,000,000 shares authorized, 87,170,197
shares issued0.9
0.9Additional paid-in capital1,249.7
1,243.0Retained earnings4,963.0
4,891.1Accumulated other comprehensive loss(48.0)
(48.5)Treasury stock, at cost, 52,360,280 shares and 52,374,147 shares for 2026 and
2025, respectively(4,951.7)
(4,923.4)Total stockholders' equity1,213.9
1,163.1Total liabilities and stockholders' equity$ 4,292.7
$ 4,081.8 LENNOX INTERNATIONAL INC. AND SUBSIDIARIESConsolidated Statements of Cash Flows (Unaudited)
(Amounts in millions)For the Three Months
Ended March 31,
2026
2025Cash flows from operating activities:
Net income$ 117.2
$ 129.6Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Loss (income) from equity method investments0.4
(1.2)Provision for credit losses2.1
1.3Unrealized losses (gains), net on derivative contracts2.1
(0.5)Stock-based compensation expense6.3
6.3Depreciation and amortization29.2
25.6Deferred income taxes3.3
(1.1)Pension expense1.0
1.1Pension contributions(0.3)
(0.3)Changes in assets and liabilities, net of effects of acquisitions and divestitures:
Accounts and notes receivable(73.6)
8.3Inventories(62.6)
(209.4)Other current assets13.7
(1.7)Accounts payable31.0
85.2Accrued expenses(74.3)
(105.1)Income taxes payable and receivable, net18.8
27.1Leases, net1.3
3.4Other, net0.5
(4.4)Net cash provided by (used in) operating activities16.1
(35.8)Cash flows from investing activities:
Proceeds from the disposal of property, plant and equipment0.7
0.5Purchases of property, plant and equipment(55.5)
(25.5)Acquisitions, net of cash(0.2)
—(Purchases of) proceeds from investments and other(1.6)
1.5Net cash used in investing activities(56.6)
(23.5)Cash flows from financing activities:
Commercial paper borrowings434.1
—Commercial paper payments(299.1)
—Payments on debt arrangements(5.3)
(5.0)Proceeds from employee stock purchases2.6
1.2Repurchases of common stock(19.5)
(85.2)Repurchases of common stock to satisfy employee withholding tax obligations(10.5)
(11.3)Cash dividends paid(45.2)
(40.9)Net cash provided by (used in) financing activities57.1
(141.2)Increase (decrease) in cash, cash equivalents and restricted cash16.6
(200.5)Effect of exchange rates on cash, cash equivalents and restricted cash equivalents(2.1)
2.6Cash, cash equivalents and restricted cash, beginning of period52.7
415.1Cash, cash equivalents and restricted cash, end of period$ 67.2
$ 217.2
Supplemental disclosures of cash flow information:
Interest paid$ 23.5
$ 19.2Income taxes paid (net of refunds)$ 7.0
$ 5.1
Note: The 2025 amounts are adjusted to reflect the accounting method change from LIFO to FIFO that occurred in the fourth quarter of 2025. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESReconciliation to U.S. GAAP (Generally Accepted Accounting Principles) Measures(Unaudited, in millions, except per share and ratio data)
Use of Non-GAAP Financial MeasuresTo supplement the Company's consolidated financial statements and segment net sales and profit (loss) presented in accordance with U.S. GAAP, additional non-GAAP financial measures are provided and reconciled in the following tables. The Company believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results and enhance the ability of investors to analyze the Company's business trends and operating performance.
Reconciliation of Net Cash Provided by (Used in) Operating Activities, a GAAP measure, to Free Cash Flow, a Non-
GAAP measure
For the Three Months
Ended March 31,
2026
2025Net cash provided by (used in) operating activities$ 16.1
$ (35.8)Purchases of property, plant and equipment(55.5)
(25.5)Proceeds from the disposal of property, plant and equipment0.7
0.5Free cash flow, a Non-GAAP measure$ (38.7)
$ (60.8)
View original content to download multimedia:https://www.prnewswire.com/news-releases/lennox-reports-2026-first-quarter-results-302756320.htmlSOURCE Lennox International Inc.
Original: Lennox Reports 2026 First Quarter Results
US Market News
4 months ago
Lennox Reaffirms 2026 Guidance and Announces 2030 Long-Term Targets at 2026 Investor DayMarch 4, 2026 8:00 AM
PR Newswire (US)
DALLAS, March 4, 2026 /PRNewswire/ -- Lennox (NYSE: LII), a leader in energy–efficient climate control solutions, reaffirmed previously issued full-year 2026 financial guidance for revenue, adjusted EPS, capital expenditures, and free cash flow, consistent with assumptions outlined on its 2025 fourth quarter earnings call.The Company will also host its Investor Day today, March 4, 2026, in the Dallas–Fort Worth area. The formal presentation will outline the company's operational progress, strategic priorities, and new 2030 financial targets. These targets include revenue between $6.5B and $7.5B, segment profit margins between 22% and 23%, and free cash flow conversion greater than 90% of net income.The presentation will be followed by a question-and-answer session. The live presentation is scheduled to begin at 9:30 a.m. Central Time and will be webcast live at www.investor.lennox.com. Presentation materials will be available on our website prior to the webcast. A replay will also be available on the website following the event.Lennox (NYSE: LII) is a leader in energy-efficient climate-control solutions. We are committed to sustainability and creating comfortable, healthier environments for residential and commercial customers. Our innovative portfolio includes cooling, heating, indoor air quality, and refrigeration systems, along with a comprehensive range of HVAC parts, supplies, and services that support the full lifecycle of customer needs. Additional information is available at www.investor.lennox.com or by contacting Investor Relations at investor@lennox.com.Investor Relations Contact
investor@lennox.comFORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURESThe statements in this document that are not historical statements, including statements regarding the 2026 full-year outlook and expected consolidated and segment financial results, as well as financial targets for future years, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available as well as management's assumptions and beliefs today. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the statements, and investors should not place undue reliance on them. Risks and uncertainties that could cause actual results to differ materially from such statements include risks that the North American unitary HVAC and refrigeration markets perform worse than current assumptions. Additional risks include but are not limited to competition in the HVACR business; our ability to successfully develop and market new products or execute our business strategy; our ability to meet and anticipate customer demands; our ability to continue to license or enforce our intellectual property rights; our ability to attract, motivate, develop, and retain our employees, as well as labor relations problems; artificial intelligence technologies; a decline in new construction activity and related demand for our products and services; the impact of weather on our business; the impact of higher raw material prices and significant supply interruptions; product liability, warranty claims, or recalls; changes in environmental and climate-related legislation or government regulations or policies; changes in tax legislation; the impact of new or increased trade tariffs; improper conduct by any of our employees, agents, or business partners; litigation risks; general economic conditions in the United States and abroad; extraordinary events beyond our control; risks associated with our international operations; cyber-attacks and other disruptions or misuse of information systems; and our ability to successfully realize, complete and integrate acquisitions.For information concerning these and other risks and uncertainties, see LII's publicly available filings with the Securities and Exchange Commission. LII disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.This press release includes forward-looking statements regarding segment profit and free cash flow, which are non-GAAP financial measures. These non-GAAP financial measures are derived by excluding certain amounts from the corresponding financial measures determined in accordance with GAAP. The determination of the amounts excluded is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period and the high variability of certain amounts, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, changes in environmental liabilities, the impact and timing of potential acquisitions and divestitures, future restructuring costs, and other structural changes or their probable significance. We are unable to present a quantitative reconciliation of the aforementioned forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. The unavailable information could have a significant impact on LII's full year GAAP financial results.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lennox-reaffirms-2026-guidance-and-announces-2030-long-term-targets-at-2026-investor-day-302703215.htmlSOURCE Lennox International Inc.
Original: Lennox Reaffirms 2026 Guidance and Announces 2030 Long-Term Targets at 2026 Investor Day
US Market News
5 months ago
Lennox Reports Fourth Quarter and Full Year 2025 Results; Provides Full Year 2026 GuidanceJanuary 28, 2026 11:45 AM
PR Newswire (US)
Q4 Highlights
(All comparisons are year-over-year, unless otherwise noted)
(Reflects change in accounting method from LIFO to FIFO, effective 4Q 2025)Revenue $1.2 billion, down 11%GAAP Operating Income $196 million – Segment profit down 16% to $212 millionGAAP diluted EPS $4.07 – Adjusted diluted EPS down 22% to $4.452025 Full Year Highlights
(All comparisons are year-over-year, unless otherwise noted)
(Reflects change in accounting method from LIFO to FIFO, effective 4Q 2025) Revenue $5.2 billion, down 3%GAAP Operating Income $1 billion – Segment profit up 2% to $1.1 billionGAAP diluted EPS $22.79 – Adjusted diluted EPS up 2% to $23.16DALLAS, Jan. 28, 2026 /PRNewswire/ -- Lennox (NYSE: LII), a leader in energy-efficient climate-control solutions, today reported fourth quarter financial results with $1.2 billion of revenue, $196 million of operating income, and $4.07 GAAP diluted earnings per share. Accompanying financial tables reflect the change in accounting method resulting from the transition from LIFO to FIFO accounting.Revenue declined 11% to $1.2 billion. Segment profit decreased 16% to $212 million. Segment margin was down 110 basis points to 17.7%. Adjusted diluted earnings per share decreased 22% to $4.45."We are pleased with our performance in 2025 given industry headwinds. For the first time in its history, Lennox delivered annual margins over 20%, a particularly meaningful accomplishment driven by our cost reduction actions and mix benefits," said CEO, Alok Maskara. "This is a direct reflection of the hard work and dedication of the Lennox team, and we remain confident that our strategy and recent investments position us to grow revenue and profits in 2026 as the industry normalizes."Home Comfort Solutions revenue declined 21% in the fourth quarter, driven by expected channel destocking and continued softness in new construction sales. Broader macroeconomic uncertainty continued to temper both consumer and dealer activity which has led to an increase in deferred system replacements. Segment margins were down 220 basis points, primarily due to the impact of lower sales volumes and under absorption of manufacturing costs. In response to these headwinds, we took disciplined SG&A cost control actions and delivered favorable mix and price. We have a more constructive backdrop as we enter the new year with one–step channel's inventory destock nearly complete and two-step inventories expected to normalize by the second quarter.The Building Climate Solutions segment delivered 8% revenue growth in the fourth quarter, supported by steady parts acquisition, services demand, and a favorable mix. Margins expanded on improved factory productivity and disciplined cost control. Despite end markets below historical levels, the segment continued to gain momentum in emergency replacement positioning us for growth acceleration.FOURTH QUARTER 2025 FINANCIAL HIGHLIGHTS
(All comparisons are year-over-year, unless otherwise noted)
(Reflects change in accounting method from LIFO to FIFO, effective 4Q 2025) Revenue: $1.2 billion was down 11% driven by unfavorable sales volumes.Operating Income: $196 million, down 22%, with operating profit margin of 16.4%, down 220 basis points.Segment Profit: $212 million, down 16%, and segment profit margin of 17.7%, down 110 basis points primarily driven by $115 million decrease in sales volumes and $31 million product cost primarily related to recent inflationary impacts and factory under absorption. This was partially offset by $84 million of mix/price benefits and a $21 million improvement in SG&A and other costs.Net Income: $143 million, or $4.07 per share, compared to $202 million, or $5.64 per share, in the prior-year quarter.Adjusted Net Income: $155.8 million, or $4.45 per share, compared to $205 million, or $5.72 per share, in the prior-year quarter.Cash Flow: Operating cash flow was $406 million compared to $332 million in the prior-year quarter as inventory levels normalized in the quarter. Net capital expenditures were $29 million compared to $60 million in the prior-year quarter. Share repurchases totaled $150 million.Home Comfort Solutions: Business segment revenue was $700 million, down 21%. Segment profit was $137 million, down 29%, and segment margin was 19.6%, down 220 basis points. Segment profit decreased $56 million compared to the prior-year quarter. The decline was driven by a $102 million contraction in sales volumes, $29 million in product cost inflation and lower factory absorption. This was partially offset by $56 million in mix/price benefits and $19 million improvement of other costs, including selling expense net of freight and distribution expense.Building Climate Solutions: Business segment revenue was $495 million, up 8%. Segment profit was $115 million, up $11 million or 11%, and segment margin improved 50 basis points to 23.1%. This increase was driven by $27 million in mix/price benefits and $5 million improvement in selling expenses, net of acquisition and other expenses. This was partially offset by $13 million decrease in sales volume; $5 million from higher distribution and freight costs; and $3 million in product cost inflation and lower factory absorption.Corporate and Other: Corporate expenses were $40 million, down $4 million from the prior-year quarter.FULL YEAR 2025 FINANCIAL HIGHLIGHTS
(All comparisons are year-over-year, unless otherwise noted)
(Reflects change in accounting method from LIFO to FIFO, effective 4Q 2025) Revenue: $5.2 billion was down 3% driven by unfavorable sales volumes.Operating Income: $1 billion, flat to prior-year, with operating profit margin of 20.0%, up 50 basis points.Segment Profit: $1.1 billion, up 2%, and segment profit margin of 20.4%, up 90 basis points. Profit improvement can be attributed to $356 million of mix/price benefits, driven primarily by new product mix; and $56 million improvement in other costs, including selling expense. This was partially offset by $255 million decrease in sales volumes, $80 million of product cost primarily related to inflationary impacts, and $61 million of freight and distribution expense.Net Income: $806 million, or $22.79 per share, compared to $811 million, or $22.66 per share, in the prior-year.Adjusted Net Income: $819 million, or $23.16 per share, compared to $813 million, or $22.70 per share, in the prior-year.Cash Flow: Operating cash flow was $757 million compared to $946 million in the prior-year, primarily driven by excess inventory associated with refrigerant transition dynamics, channel destocking, and the deployment of emergency replacement product. Net capital expenditures were $117 million compared to $161 million in the prior-year. Share repurchases totaled $482 million.Home Comfort Solutions: Business segment revenue was $3.3 billion, down 7%. Segment profit was $729 million, down 4%, and segment margin was 21.8%, up 50 basis points. Segment profit decreased $32 million compared to the prior-year. The decline was driven by a $224 million contraction in sales volumes; $64 million in product cost inflation and factory productivity; and $47 million in freight and distribution expense. This was partially offset by $256 million in mix/price benefits and $47 million improvement of other costs, including selling expense.Building Climate Solutions: Business segment revenue was $1.9 billion, up 5%. Segment profit was $434 million, up $33 million or 8%, and segment margin improved 60 basis points to 23.4%. This increase was driven by $100 million in mix/price benefits. This was partially offset by $31 million in lower sales volumes, $16 million of product cost inflation net of factory productivity and $20 million from investment in distribution and selling as well as other inflationary impacts.Corporate and Other: Corporate expenses were $105 million, down $15 million from the prior-year.FULL YEAR 2026 GUIDANCE
For full year 2026, revenue is anticipated to increase by approximately 6% to 7%, with growth from completed acquisitions contributing approximately 4%.Adjusted earnings per share is expected to be within the range of $23.50 to $25.00. Capital expenditures are projected to be approximately $250 million, and Free Cash Flow is estimated to fall within the range of $750 million to $850 million. CONFERENCE CALL INFORMATION
A conference call to discuss the company's fourth quarter and full year results, as well as 2026 full year guidance, will be held this morning at 8:30 a.m. Central Time. To participate in the earnings conference, please call 800-267-6316 (U.S.) or +1 203-518-9783 (international) at least 10 minutes prior to the scheduled start time and use conference ID LIIQ425. The conference call also will be webcast live on the company's investor relations web site at investor.lennox.com. A replay of the conference call will be available until February 4, 2026, by calling toll-free 800-723-0607 (U.S.) or +1 402-220-2658 (international). The call will also be archived on the company's investor relations website at investor.lennox.com.ABOUT LENNOX
Lennox (NYSE: LII) is a leader in energy-efficient climate-control solutions. We are committed to sustainability and creating comfortable, healthier environments for residential and commercial customers. Our innovative portfolio includes cooling, heating, indoor air quality, and refrigeration systems, along with a comprehensive range of HVAC parts, supplies, and services that support the full lifecycle of customer needs. Additional information on Lennox is available at Lennox.com or by contacting investor@lennox.com.FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES
The statements in this document that are not historical statements, including statements regarding the 2026 full-year outlook and expected consolidated and segment financial results, as well as financial targets for future years, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available as well as management's assumptions and beliefs today. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the statements, and investors should not place undue reliance on them. Risks and uncertainties that could cause actual results to differ materially from such statements include risks that the North American unitary HVAC and refrigeration markets perform worse than current assumptions. Additional risks include but are not limited to competition in the HVACR business; our ability to successfully develop and market new products or execute our business strategy; our ability to meet and anticipate customer demands; our ability to continue to license or enforce our intellectual property rights; our ability to attract, motivate, develop, and retain our employees, as well as labor relations problems; artificial intelligence technologies; a decline in new construction activity and related demand for our products and services; the impact of weather on our business; the impact of higher raw material prices and significant supply interruptions; product liability, warranty claims, or recalls; changes in environmental and climate-related legislation or government regulations or policies; changes in tax legislation; the impact of new or increased trade tariffs; improper conduct by any of our employees, agents, or business partners; litigation risks; general economic conditions in the United States and abroad; extraordinary events beyond our control; risks associated with our international operations; cyber-attacks and other disruptions or misuse of information systems; and our ability to successfully realize, complete and integrate acquisitions.For information concerning these and other risks and uncertainties, see LII's publicly available filings with the Securities and Exchange Commission. LII disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.A reconciliation of non-GAAP financial measures appearing in this document to financial measures prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) are included in the Annex to this document.This document includes forward-looking statements regarding segment profit, adjusted net income, adjusted diluted earnings per share, and free cash flow, which are non-GAAP financial measures. These non-GAAP financial measures are derived by excluding certain amounts from the corresponding financial measures determined in accordance with GAAP. The determination of the amounts excluded is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period and the high variability of certain amounts, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, changes in environmental liabilities, the impact and timing of potential acquisitions and divestitures, future restructuring costs, and other structural changes or their probable significance. We are unable to present a quantitative reconciliation of the aforementioned forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. The unavailable information could have a significant impact on LII's full year GAAP financial results. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESConsolidated Statements of Operations(Unaudited) (Amounts in millions, except per share data)For the Three Months Ended December 31,
For the Years Ended December 31,
2025
2024
2025
2024Net sales$ 1,195.0
$ 1,345.0
$ 5,195.3
$ 5,341.3Cost of goods sold805.7
884.1
3,460.5
3,563.8Gross profit389.3
460.9
1,734.8
1,777.5Operating Expenses:
Selling, general and administrative expenses175.2
207.0
681.4
730.6Losses and other expenses, net12.6
2.4
12.0
12.9Restructuring charges6.8
—
6.8
—(Gain) loss on sale from previous dispositions(0.9)
3.1
(0.9)
1.5Income from equity method investments(0.2)
(1.8)
(6.0)
(7.9)Operating income195.8
250.2
1,041.5
1,040.4Pension settlements0.1
—
0.4
0.4Interest expense, net15.9
5.5
40.9
38.7Other expense, net1.1
0.4
3.4
1.9Net income before income taxes178.7
244.3
996.8
999.4Provision for income taxes36.2
42.4
191.0
188.3Net income$ 142.5
$ 201.9
$ 805.8
$ 811.1
Earnings per share – Basic(1):$ 4.08
$ 5.67
$ 22.89
$ 22.78
Earnings per share – Diluted(1):$ 4.07
$ 5.64
$ 22.79
$ 22.66
Weighted Average Number of Shares Outstanding - Basic34.9
35.6
35.2
35.6Weighted Average Number of Shares Outstanding - Diluted35.1
35.8
35.4
35.8(1) Amounts may not recalculate due to rounding. Note: The 2024 amounts are adjusted to reflect the accounting method change from LIFO to FIFO. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESSegment Net Sales and Profit(Unaudited) (Amounts in millions) For the Three Months Ended December 31,
For the Years Ended December 31,
2025
2024
2025
2024Net Sales
Home Comfort Solutions$ 699.8
$ 887.4
$ 3,343.4
$ 3,577.1Building Climate Solutions495.2
457.6
1,851.9
1,764.2Corporate and other—
—
—
—Total net sales$ 1,195.0
$ 1,345.0
$ 5,195.3
$ 5,341.3
Segment Profit(1)
Home Comfort Solutions$ 137.4
$ 193.4
$ 728.5
$ 760.5Building Climate Solutions114.5
103.6
434.2
401.7Corporate and other(39.9)
(43.7)
(105.0)
(120.3)Total segment profit212.0
253.3
1,057.7
1,041.9Reconciliation to Operating income:
Restructuring charges6.8
—
6.8
—(Gain) loss on sale from previous dispositions(0.9)
3.1
(0.9)
1.5Acquisition costs(2) 10.3
—
10.3
—Operating income$ 195.8
$ 250.2
$ 1,041.5
$ 1,040.4(1) We define segment profit (loss) as a segment's operating income (loss) included in the accompanying Consolidated Statements of Operations, excluding: • Restructuring charges,• Gain (loss) on sale of previous dispositions, and;• Acquisition costs (2) Recorded in Losses and other expenses, net in the accompanying Consolidated Statement of Operations. Note: The 2024 amounts are adjusted to reflect the accounting method change from LIFO to FIFO. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESConsolidated Balance Sheets(Unaudited) (Amounts in millions, except shares and par values)As of December 31, 2025
As of December 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents$ 34.2
$ 415.1Short-term investments0.5
7.2Accounts and notes receivable, net of allowances of $8.5 and $17.8 in 2025
and 2024, respectively578.8
661.1Inventories, net1,152.6
853.0Other current assets137.7
96.0Total current assets1,903.8
2,032.4Restricted cash18.5
—Property, plant and equipment, net of accumulated depreciation of $1,043.9 and
$956.8 in 2025 and 2024, respectively887.2
800.1Right-of-use assets from operating leases356.3
327.2Goodwill497.2
220.0Deferred income taxes12.9
75.1Other assets, net405.9
165.2Total assets$ 4,081.8
$ 3,620.0
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable$ 438.0
$ 490.0Accrued expenses374.2
435.4Income taxes payable46.4
—Commercial paper226.0
—Current maturities of long-term debt18.3
314.5Current operating lease liabilities88.9
73.4Total current liabilities1,191.8
1,313.3Long-term debt1,144.1
833.1Long-term operating lease liabilities293.4
267.6Pensions18.7
18.9Other liabilities270.7
225.0Total liabilities2,918.7
2,657.9Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares issued
or outstanding—
—Common stock, $0.01 par value, 200,000,000 shares authorized, 87,170,197
shares issued0.9
0.9Additional paid-in capital1,243.0
1,213.3Retained earnings4,891.1
4,262.7Accumulated other comprehensive loss(48.5)
(93.7)Treasury stock, at cost, 52,374,147 shares and 51,573,986 shares for 2025 and
2024, respectively(4,923.4)
(4,421.1)Total stockholders' equity1,163.1
962.1Total liabilities and stockholders' equity$ 4,081.8
$ 3,620.0Note: The 2024 amounts are adjusted to reflect the accounting method change from LIFO to FIFO. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESConsolidated Statements of Cash Flows(Unaudited) (Amounts in millions)For the Years Ended December 31,
2025
2024Cash flows from operating activities:
Net income$ 805.8
$ 811.1Adjustments to reconcile net income to net cash provided by operating activities:
(Gain) loss on sale from previous dispositions(0.9)
1.5Income from equity method investments(6.0)
(7.9)Dividends from affiliates6.6
3.0Restructuring charges, net of cash paid3.3
—Provision for credit (gains) losses(1.9)
8.0Unrealized losses (gains), net on derivative contracts4.8
(2.3)Stock-based compensation expense29.1
28.5Depreciation and amortization112.5
95.1Deferred income taxes20.2
(23.2)Pension expense4.3
4.2Pension contributions(8.0)
(9.3)Changes in assets and liabilities, net of effects of acquisitions and divestitures:
Accounts and notes receivable108.9
(80.4)Inventories(228.2)
(15.6)Other current assets(27.8)
(8.3)Accounts payable(74.2)
115.0Accrued expenses(69.5)
30.4Income taxes payable and receivable, net58.6
(21.9)Leases, net12.1
5.5Other, net7.9
12.3Net cash provided by operating activities757.6
945.7Cash flows from investing activities:
Proceeds from the disposal of property, plant and equipment1.4
2.5Purchases of property, plant and equipment(118.8)
(163.6)Net proceeds from previous disposition—
(7.7)Acquisitions, net of cash(545.0)
1.8Proceeds from (purchases of) investments and other6.8
(7.4)Net cash used in investing activities(655.6)
(174.4)Cash flows from financing activities:
Commercial paper borrowings1,368.8
424.1Commercial paper payments(1,142.8)
(574.1)Borrowings from debt arrangements300.0
156.7Payments on debt arrangements(18.9)
(194.3)Payment of senior unsecured notes(300.0)
—Borrowings from credit facility200.0
—Payments on credit facility(200.0)
—Payments of deferred financing costs(2.3)
—Proceeds from employee stock purchases4.0
4.5Repurchases of common stock(482.3)
(53.6)Repurchases of common stock to satisfy employee withholding tax obligations(19.2)
(21.6)Cash dividends paid(173.0)
(160.3)Net cash used in financing activities(465.7)
(418.6)(Decrease) increase in cash and cash equivalents and restricted cash(363.7)
352.7Effect of exchange rates on cash and cash equivalents and restricted cash1.3
1.7Cash and cash equivalents and restricted cash, beginning of period415.1
60.7Cash and cash equivalents and restricted cash, end of period$ 52.7
$ 415.1
Supplemental disclosures of cash flow information:
Interest paid$ 46.5
$ 45.2Income taxes paid (net of refunds)$ 103.8
$ 231.9 Note: The 2024 amounts are adjusted to reflect the accounting method change from LIFO to FIFO. LENNOX INTERNATIONAL INC. AND SUBSIDIARIESReconciliation to U.S. GAAP (Generally Accepted Accounting Principles) Measures(Unaudited, in millions, except per share and ratio data)
Use of Non-GAAP Financial MeasuresTo supplement the Company's consolidated financial statements and segment net sales and profit (loss) presented in accordance
with U.S. GAAP, additional non-GAAP financial measures are provided and reconciled in the following tables. The Company believes
that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is
useful to investors in understanding period-over-period operating results and enhance the ability of investors to analyze the
Company's business trends and operating performance. Reconciliation of Net income, a GAAP measure, to Adjusted net income, a Non-GAAP measure
For the Three Months Ended December 31,
For the Years Ended December 31,
2025
2024
2025
2024
Amount
after taxPer
Diluted
Share
Amount
after taxPer
Diluted
Share
Amount
after taxPer
Diluted
Share
Amount
after taxPer
Diluted
ShareNet income, a GAAP measure$ 142.5$ 4.07
$ 201.9$ 5.64
$ 805.8$ 22.79
$ 811.1$ 22.66Restructuring charges5.10.15
——
5.10.14
——(Gain) loss on sale from previous dispositions(0.7)(0.02)
3.10.08
(0.7)(0.02)
1.50.04Acquisition costs (a)8.90.25
——
8.90.25
——Adjusted net income, a non-GAAP measure$ 155.8$ 4.45
$ 205.0$ 5.72
$ 819.1$ 23.16
$ 812.6$ 22.70
(a) Recorded in Losses and other expenses, net in the Consolidated Statements of Operations
Note: The 2024 amounts are adjusted to reflect the accounting method change from LIFO to FIFO.
Reconciliation of Net Cash Provided by Operating Activities, a GAAP measure, to Free Cash Flow, a Non-GAAP measure
For the Three Months EndedDecember 31,
For the Years Ended December 31,
2025
2024
2025
2024Net cash provided by operating activities$ 405.9
$ 332.4
$ 757.6
$ 945.7Purchases of property, plant and equipment(29.2)
(60.2)
(118.8)
(163.6)Proceeds from the disposal of property, plant and equipment0.3
0.6
1.4
2.5Free cash flow, a Non-GAAP measure$ 377.0
$ 272.8
$ 640.2
$ 784.6
View original content to download multimedia:https://www.prnewswire.com/news-releases/lennox-reports-fourth-quarter-and-full-year-2025-results-provides-full-year-2026-guidance-302671707.htmlSOURCE Lennox International Inc.
Original: Lennox Reports Fourth Quarter and Full Year 2025 Results; Provides Full Year 2026 Guidance
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