By Don Nico Forbes
Lennox International posted a sizable increase in earnings for the fourth quarter, driven by growth in the Home Comfort and Building Climate segments.
The Richardson, Texas, company reported a profit of $197.7 million, or $5.52 a share, compared with $145 million, or $4.04 a share, in the prior-year quarter.
Adjusted earnings per share were $5.60, beating the $4.62 that analysts surveyed by FactSet had been expecting.
Revenue grew 16% to $1.3 billion. Analysts had expected $1.24 billion. Core revenue, which strips out the company's European operations, was up 22%.
Home Comfort Solutions revenue rose 25% to $887 million, while Building Climate Solutions revenue was up 17% at $458 million.
For 2025, the company expects core revenue to rise about 2%, primarily driven by the mix of new refrigerant products, along with low single-digit increases in price and volume.
Lennox said pre-buy for legacy refrigerant products in 2024 tempered volume expectations for the year ahead.
Adjusted EPS is seen within a range of $22.00 to $23.50, compared with $22.54 in 2024.
Capital expenditures are expected at roughly $150 million, while free cash flow is estimated to be within a range of $650 million to $800 million.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
January 29, 2025 07:09 ET (12:09 GMT)
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