Filing Flows › Industrials › Lennox International (LII)
Lennox International (LII) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Lennox International (LII) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $1.6B · 14¢ of every $1 of revenue kept as net profit · operating margin 19.8%
Lennox International made $1.6B in Q3 2026 (+10% Y/Y): Residential Heating and Cooling $937M, Commercial Heating and Cooling $635M. Operating margin 19.8%, net earnings $221M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.6B in Q3 2026, up 10% year over year and up 2% from the previous quarter. Residential Heating and Cooling was the largest line at 60% of revenue. Commercial Heating and Cooling added $0.12B year over year (up 24%), 83% of the total change.
Gross margin was 31.6%, down 2.5 points from Q3 2025. Operating profit was $0.31B, a 19.8% margin (down 3.2 points year over year). Operating profit fell $0.02B even though revenue rose $0.15B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 17% against revenue growth of 10%. Net earnings were $0.22B, down 15% year over year. The effective tax rate was 24.6%.
Operating cash flow was $0.40B (up 31% year over year), 179% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items added $0.14B. Capital expenditures of $0.03B left free cash flow of $0.36B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $1.6B | +10% | 19.8% | $221M | $395M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $1.5B | +3% | 23.0% | $269M | $172M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $1.1B | +6% | 14.4% | $117M | $16.1M |
| Q4 2025 | 10-K | Feb 17, 2026 | $1.2B | -11% | 16.4% | $142M | $406M |
| Q3 2025 | 10-Q | Oct 22, 2025 | $1.4B | -5% | 21.7% | $246M | $301M |
| Q2 2025 | 10-Q | Jul 23, 2025 | $1.5B | +3% | 23.3% | $274M | $86.8M |
| Q1 2025 | 10-Q | Apr 23, 2025 | $1.1B | +2% | 14.5% | $120M | −$35.8M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Lennox International
References in this Annual Report on Form 10-K to “we,” “our,” “us,” “Lennox,” “LII” or the “Company” refer to Lennox International Inc. and its subsidiaries, unless the context requires otherwise. We are a global leader in energy-efficient climate-control solutions. We design, manufacture and market a broad range of products for the heating, ventilation, air conditioning and refrigeration (“HVACR”) markets. We have leveraged our expertise to become an industry leader known for innovation, quality and reliability. Our products and services are sold through multiple distribution channels under various brand names. The Company was founded in 1895, in Marshalltown, Iowa, by Dave Lennox, the owner of a machine repair business for railroads. He designed and patented a riveted steel coal-fired furnace, which led to numerous advancements in heating, cooling and climate control solutions.
In its own words, from its 10-K, filed Feb 17, 2026.
Lennox International against its Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +10%. Operating margin: 19.8% against the peers' median 11.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LII Lennox International | Q3 2026 | $1.6B | +10% | 19.8% |
| JCI Johnson Controls International | Q4 FY26 | $7.1B | +10% | 14.9% |
| CARR Carrier Global | Q3 2026 | $6.3B | +12% | -36.3% |
| AAON Aaon | Q2 2026 | $627M | +101% | 11.0% |
| TGEN Tecogen | Q2 2026 | $5.7M | -21% | -37.4% |
| EVOH EvoAir Holdings | Q4 FY26 | $107K | -14% | n/m |
Source: Lennox International 10-Q on SEC EDGAR · CIK 1069202 · Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
Guidance and outlook
13F: who owns LII and who is buying
More on LII
- How Lennox International makes money: revenue by segment
- Lennox International next earnings date and what analysts expect
- Lennox International stock forecast, price target and fair value
- Who owns Lennox International stock: holders, funds and Congress trades
- Lennox International guidance and outlook
- Is Lennox International a takeover target? LBO and rumors
- Lennox International recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Lennox International guidance history: guided vs reported
- Lennox International gross margin by quarter
- Lennox International operating margin by quarter
- Lennox International net income by quarter
- Lennox International free cash flow by quarter
- Lennox International capital expenditures by quarter
- Lennox International Residential Heating and Cooling revenue by quarter
- Lennox International Commercial Heating and Cooling revenue by quarter