Lennox Earnings: Higher Commercial Profitability Persists; Full-Year Midpoint EPS Guidance Raised

Lennox picked up where it left off last year as first-quarter revenue and profit margin both increased from the prior-year period thanks to continued strength in building climate solutions (previously commercial heating and cooling). Core revenue, which excludes the divested European businesses, grew 6% year over year to over $1.0 billion. Core adjusted segment profit margin expanded 150 basis points to 15.9% on favorable price and mix.