Filing Flows › Lennox International (LII) › Q1 2025
Lennox International (LII) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 23, 2025
Lennox International (LII) reported revenue of $1.1B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -20% from the quarter before. Operating margin was 14.5%, net earnings $120M (11.2% of revenue).
Lennox International, Q1 2025: revenue $1.1B (+2% year over year), operating margin 14.5%, net earnings $120M, operating cash flow −$35.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -20% | +2% |
| Gross profit | $341M | -26% | +0.3% |
| Operating profit | $156M | -38% | -7% |
| Net earnings | $120M | -40% | -3% |
| Operating cash flow | −$35.8M | — | — |
What changed
Revenue was $1.1B in Q1 2025, up 2% year over year and down 20% from the previous quarter. Residential Heating and Cooling was the largest line at 67% of revenue. Residential Heating and Cooling added $0.05B year over year (up 7%), 184% of the total change. Commercial Heating and Cooling declined 6%.
Gross margin was 31.8%, down 0.7 points from a year earlier. Operating profit was $0.16B, a 14.5% margin (down 1.4 points year over year). Operating profit fell $0.01B even though revenue rose $0.03B versus a year earlier, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+460%). Net earnings were $0.12B, down 3% year over year. The effective tax rate was 18.9%.
Operating cash flow was −$0.04B. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.19B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.06B.
Questions
What was Lennox International's revenue in the first quarter 2025?
Lennox International (LII) reported revenue of $1.1B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -20% from the quarter before.
Was Lennox International profitable in the first quarter 2025?
Operating profit was $156M (14.5% of revenue) and net earnings $120M.