Lennox International, Inc. (NYSE:LII) revealed its second quarter earnings results on Monday 20th July 2020 before market open.
The reported $ 2.60 income per share for the quarter
On adjusted basis, Lennox International, Inc. reported income for the quarter of $ 2.97 per share, beat the consensus estimate of $ 2.52 income per share by $ 0.45 or 17.86 percent.
The quarterly earnings decreased 7.14 percent compared with the same quarter last year.
The firm had revenue of $ 941.30 million for the quarter, compared to the consensus estimate of $ 877.27 million. The revenues outshined analysts estimates by $ 64.03 million or 7.30 percent.
The financial report showed revenues fell 14.36 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Todd Bluedorn, Chairman and CEO, said, The COVID-19 pandemic significantly impacted all our businesses in the second quarter, but our Residential business improved each month through the quarter and was up 7% year-over-year in June as the economy continued to re-open and weather heated up. With hot weather continuing month-to-date in July, we are seeing strong Residential growth on excellent operational execution by the team to capitalize on market opportunities.
Looking ahead, Lennox International announced 2020 earnings estimate to a range of $ 7.90 ~ $ 8.70 per share.The consensus estimates for 2020 are income of $ 7.93 per share from $ 3294.00 million in revenue.
