NEW YORK - Lennox International Inc. (NYSE:LII) shares jumped 2.4% in premarket trading Wednesday after the heating, ventilation and air conditioning company reported third quarter results that beat analyst expectations and raised its full-year outlook.
The Dallas-based company posted adjusted earnings per share of $6.68 for the quarter, surpassing the consensus estimate of $6.01. Revenue came in at $1.5 billion, above analysts' projections of $1.42 billion and up 15% year-over-year on a core basis.
"The Lennox team is proud to deliver another exceptional quarter driven by the effective execution of our transformation plan," said CEO Alok Maskara.
Lennox saw strong performance across its business segments. The Home Comfort Solutions division grew revenue 15% to $1.03 billion, while Building Climate Solutions revenue increased 15% to $465 million.
On the back of the solid results, Lennox raised its full-year 2024 earnings guidance to a range of $20.75 to $21.00 per share, up from its previous outlook of $19.50 to $20.25. The company also boosted its free cash flow forecast to between $575 million and $650 million.
"Our low GWP transition plan and products are strengthening our competitive edge, and we are well-positioned to capture market share in the years ahead," Maskara added.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.