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Dec 31, 2021
Lennox Q4 2021 Earnings Report
Lennox International reported a record fourth-quarter revenue and EPS despite challenges from fewer days, Covid-19, and supply chain disruptions.
Key Takeaways
Lennox International reported a 6% increase in fourth-quarter revenue, reaching a record $965 million. GAAP EPS was $2.27, while adjusted EPS was $2.35. The results were impacted by 6% fewer days in the quarter, as well as Covid-19 and global supply chain disruptions.
Fourth-quarter revenue increased by 6% to a record $965 million.
GAAP EPS from continuing operations was $2.27, compared to $2.91 in the prior-year quarter.
Adjusted EPS from continuing operations was $2.35, compared to $2.89 in the prior-year quarter.
Full year 2021 revenue was up 15% to a record $4.2 billion.
Lennox
Lennox
Lennox Revenue by Segment
Revenue by Segment
Home Comfort Solutions Revenue
CapyFin.comBuilding Climate Solutions Revenue
CapyFin.com Forward Guidance
The company is reiterating 2022 guidance for revenue growth of 5-10% and raising 2022 guidance for GAAP and adjusted EPS from continuing operations from $13.40-$14.40 to $13.50-$14.50.
Positive Outlook
- Reiterating guidance for revenue growth of 5-10%.
- Raising guidance for GAAP and adjusted EPS from continuing operations from $13.40-$14.40 to $13.50-$14.50.
- Reflecting the net benefit of lower effective tax rate guidance of 18-20%.
- Reiterating guidance for capital expenditures of approximately $125 million.
- Reiterating plans for $400 million of stock repurchases for the year.
Challenges Ahead
- Guidance reflects higher interest expense assumptions.
- The company faces risks related to raw material prices and supply chain disruptions.
- The company is exposed to risks related to trade tariffs.
- The company is exposed to economic conditions in its markets.
- The company is exposed to any resurgence of the COVID-19 pandemic and its economic impact.
Revenue & Expenses
Visualization of income flow from segment revenue to net income