LII changes
Pick any two versions below to diff them.
- Price
- $344.08 → $350.73(+1.9%)
- Balance sheet
- Cash: $46M Debt: $1.6B Net debt: $1.6B Interest cover: 18× Undrawn credit line: $545M, to May 2030 Debt due within 12 months: $774M Last debt due: 2028 Ratings: Moody's Baa1 (stable outlook), S&P BBB (stable outlook) Debt is the amount on the balance sheet at September 30, 2026: $455.1 million of commercial paper, $319.2 million of current maturities of long-term debt and $847.1 million of long-term debt. These amounts include finance leases. The 10-Q for the removed: quarter is not added: quarter, filed removed: yet, so this text assumes that added: on October 28, 2026, shows the other removed: debt did not change from June 30, 2026: added: debt: $300 million of 1.70% notes due August 1, 2027, a $300 million term loan due October 16, 2027, and $500 million of 5.50% notes due September 2028. Due within 12 months is the commercial paper and the current maturities, mostly the 2027 notes. Debt is usually higher in the first half of the year because of seasonal working capital. Undrawn credit is the $1.0 billion revolving credit facility less the commercial paper, about $545 million, and the facility matures in May 2030. Interest cover is operating income divided by net interest expense for the first nine months of 2026. Free cash flow was $461 million in the first nine months of 2026, and Lennox expects $700 million to $750 million for 2026. In the first nine months, it bought back $301.9 million of shares and paid $209.9 million for acquisitions, mostly Heat Controller. As of Sep 30, 2026.
- Recent events
- Oct added: 30, 2026: Joseph Nassab, who leads the Building Climate Solutions segment, told Lennox that he will retire from that role on December 31, 2026. He then becomes a strategic advisor until February 28, added: 2028. Geoffrey Dethlefsen, now Vice President and General Manager of Lennox Commercial HVAC, takes over the segment on January 1, 2027. Oct 28, 2026: Lennox reported Q3 2026 results. Revenue rose 10% to $1.6 billion, and adjusted diluted EPS fell 7% to $6.84. GAAP diluted EPS was $6.41. Home Comfort Solutions revenue rose 3%, but its segment margin fell 490 basis points to 18.7%, because of price cuts to defend market share, inflation and tariffs. Building Climate Solutions revenue rose 24%, with 15% organic growth. Lennox cut its 2026 adjusted EPS guidance to $21.00 to $21.50 from $23.00 to $24.00, its revenue growth guidance to about 6% and its free cash flow guidance to $700 million to $750 million. It bought back $151 million of shares in the quarter. Oct 8, 2026: Lennox said that it will report Q3 2026 results before the market opens on October 28, 2026. Jul 29, 2026: Lennox reported Q2 2026 results. Revenue rose 3% to $1.5 billion, and diluted EPS was flat at $7.72. Home Comfort Solutions revenue fell 7%, and Building Climate Solutions revenue rose 24%, with 15% organic growth. Lennox lowered its 2026 EPS guidance to $23.00 to $24.00 and kept its guidance for about 8% revenue growth and $750 million to $850 million of free cash flow. Jul 13, 2026: Lennox completed the purchase of Heat Controller, which sells the Comfort-Aire and Century brands to small and mid-size HVAC distributors in North America, for about $205 million. Lennox had signed the agreement on June 18, 2026. May 21, 2026: Lennox increased its quarterly dividend from $1.30 to $1.36 per share. Apr 29, 2026: Lennox reported Q1 2026 results. Revenue rose 6% to $1.1 billion, and diluted EPS fell 8% to $3.35. Home Comfort Solutions revenue fell 10%, a smaller fall than the 21% of Q4 2025, and Building Climate Solutions had 26% organic growth.