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Lennox Shares Fall After Q2 Earnings Miss

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Lennox International (NYSE: LII) shares are trading lower after the company reported second-quarter earnings of $3.74 per share, which missed the analyst consensus estimate of $4.14 by 9.66%. This is a 1.91% increase over earnings of $3.67 per share from the same period last year.

The company reported quarterly sales of $1.099 billion, which missed the analyst consensus estimate of $1.15 billion by 4.43%. This is a 6.47% decrease over sales of $1.175 billion the same period last year.

Lennox is an intercontinental provider of climate control products for the heating, ventilation, air conditioning, and refrigeration markets.

"Significantly cooler temperatures and higher precipitation across the U.S. adversely impacted the HVAC market in the second quarter, and especially in key Central regions where cooling degree days were down over 30% and precipitation was up over 60%," said CEO Todd Bluedorn. "Slower moving shipments in the industry due to adverse weather has slowed regaining market share following the tornado and extends our recovery timeline to include the fourth quarter."

Lennox shares were trading down 3.47% at $269.47. The stock has a 52-week high of $298.49 and a 52-week low of $177.36.

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Posted-In: Earnings News

 

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