Lennox International (NYSE: LII), a leading provider of energy-efficient climate control solutions, saw its shares surge on Tuesday after reporting impressive third-quarter results and raising its full-year guidance.
For the quarter ended September 30, 2024, Lennox posted adjusted earnings per share (EPS) of $6.68, comfortably beating analysts' consensus estimate of $6.00. The company's revenue grew 9.6% year-over-year to $1.50 billion, exceeding Wall Street's expectation of $1.42 billion. The solid performance was driven by favorable sales volumes, pricing benefits, and contributions from acquisitions.
Buoyed by the strong quarterly results, Lennox raised its full-year 2024 EPS guidance to a range of $20.75 to $21.00, up from its previous forecast of $19.50 to $20.25. The company now expects revenue to grow approximately 10% for the year, with a 2% benefit from its recent acquisition of AES.
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