Lennox International, Inc. (NYSE:LII) disclosed its third quarter earnings results on Monday 19th October 2020 before market open.
The companyreported $ 3.42 income per share for the quarter. On adjusted basis, Lennox International, Inc. reported income for the quarter of $ 3.53 per share, beat the consensus estimate of $ 3.15 income per share by $ 0.38 or 12.06 percent.
The quarterly earnings expanded 16.33 percent compared with the same quarter last year.
Lennox International, Inc. had revenue of $ 1,055.00 million for the quarter, compared to the consensus estimate of $ 994.45 million. The revenues outshined analysts estimates by $ 60.55 million or 6.09 percent.
The financial report showed revenues elevated 2.14 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Todd Bluedorn, Chairman and CEO, commented, Lennox International posted record third-quarter revenue and profit driven by the performance of our Residential business in the quarter. Turning to our commercial-facing businesses, both Commercial and Refrigeration continued to be more impacted than Residential from the pandemic, but the year-over-year decline moderated in the third quarter from what we saw in the second quarter this year.
Further, the company raised its 2020 earnings from continuing operation estimate from the previous range of $ 7.90 ~ $ 8.70 per share to a new range $ 9.05 ~ $ 9.65 per share.The consensus estimates for 2020 are income of $ 8.83 per share from $ 3490.96 million in revenue.
