Lennox International Inc

LII: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$192.00	Xvbncfl	Jwvvdwt

Lennox Earnings: Positive Momentum Likely to Continue in 2024; Raises 2026 Financial Targets

Brian Bernard

Feb 1, 2024

Lennox enjoyed a good year in 2023 despite normalizing demand for residential heating, ventilation, and air-conditioning systems that was exacerbated by independent distribution channel destocking. Full-year core revenue (excluding revenue from divested European businesses) increased 6% year over year to over $4.7 billion, and adjusted core segment operating margin expanded 300 basis points to 17.9%.

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