In a remarkable display of market confidence, Lennox International Inc. (NYSE:LII) stock has reached an all-time high, touching a price level of $627.46. This milestone underscores a period of significant growth for the company, with an impressive 1-year change showing an 80.89% increase. Investors have shown increasing enthusiasm for Lennox's prospects, propelling the stock to new heights and setting a robust precedent for its future performance in the competitive climate control industry.
In other recent news, Lennox International Inc. has reported third-quarter results that surpassed analyst expectations. The company posted adjusted earnings per share of $6.68, exceeding the consensus estimate of $6.01. Revenue was reported at $1.5 billion, a figure that not only beat analysts' projections of $1.42 billion but also marked a 15% year-over-year increase on a core basis.
Lennox saw notable performance across its business segments, with the Home Comfort Solutions division growing revenue by 15% to $1.03 billion and Building Climate Solutions revenue also increasing by 15% to $465 million. Based on these robust results, Lennox has raised its full-year 2024 earnings guidance from a range of $19.50 to $20.25 per share to a new range of $20.75 to $21.00 per share.
Furthermore, the company has increased its free cash flow forecast to between $575 million and $650 million. These are among the recent developments for Lennox International Inc., a company that continues to execute its transformation plan effectively, according to CEO Alok Maskara.
InvestingPro Insights
Lennox International's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market capitalization stands at an impressive $22.04 billion, reflecting its strong position in the climate control industry. Lennox's financial health is further underscored by its ability to maintain dividend payments for 26 consecutive years, with a current dividend yield of 0.77%. This consistency in shareholder returns is complemented by a 4.55% dividend growth over the last twelve months.
InvestingPro Tips highlight Lennox's strong market performance, noting that the stock is trading near its 52-week high and has shown a high return over the last year. This aligns with the article's mention of the stock reaching an all-time high. Additionally, the company's profitability is emphasized, with analysts predicting continued profitability this year.
The company's revenue growth of 4.58% in the last twelve months and a robust EBITDA growth of 23.65% over the same period indicate solid operational performance. These figures support the market's positive sentiment towards Lennox, as reflected in its stock price surge.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for Lennox International, providing deeper insights into the company's financial health and market position.
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