Filing Flows › Lennox International (LII) › Q2 2026 › vs Q1 2026
Lennox International (LII) Q2 2026 vs Q1 2026 (quarter over quarter)
Lennox International's revenue rose $410M (+36%) from $1.1B in Q1 2026 to $1.5B in Q2 2026. The biggest changes: Residential Heating and Cooling +$286M (+44%); Commercial Heating and Cooling +$125M (+26%). Gross margin 34.9% against 30.9% (+4.0 pts).
Lennox International, Q2 2026: revenue $1.5B (+3% year over year), operating margin 23.0%, net earnings $269M, operating cash flow $172M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 34.9% | 30.9% | +4.0 pts |
| Operating margin | 23.0% | 14.4% | +8.6 pts |
| Net margin | 17.4% | 10.3% | +7.1 pts |
| Free cash flow margin | 8.8% | -3.5% | +12.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Residential Heating and Cooling | $936M | $650M | $286M | +44% |
| Commercial Heating and Cooling | $610M | $485M | $125M | +26% |
| Revenue | $1.5B | $1.1B | $410M | +36% |
| Gross profit | $540M | $351M | $188M | +54% |
| Cost of revenue | $1.0B | $784M | $222M | +28% |
| Operating profit | $355M | $164M | $192M | +117% |
| Operating expenses | $184M | $188M | −$3.3M | -2% |
| Pre-tax earnings | $340M | $147M | $193M | +131% |
| Other expense, net | $15.4M | $16.6M | −$1.2M | -7% |
| SG&A | $183M | $185M | −$2.1M | -1% |
| Other operating costs | $1.4M | $2.6M | −$1.2M | -46% |
| Net earnings | $269M | $117M | $152M | +130% |
| Income tax | $70.6M | $29.7M | $40.9M | +138% |
| Depreciation & amortization | $32.6M | $29.2M | $3.4M | +12% |
| Share-based compensation | $5.8M | $6.3M | −$500K | -8% |
| Working capital & other | $135M | $137M | −$1.2M | -0.9% |
| Operating cash flow | $172M | $16.1M | $156M | +968% |
| Free cash flow (OCF − capex) | $136M | −$39.4M | $176M | — |
| Capital expenditures | $35.7M | $55.5M | −$19.8M | -36% |
Questions
How much did Lennox International's revenue grow quarter over quarter in Q2 2026?
Lennox International's revenue rose $410M (+36%) from $1.1B in Q1 2026 to $1.5B in Q2 2026.
What drove Lennox International's revenue change in Q2 2026?
Residential Heating and Cooling +$286M (+44%); Commercial Heating and Cooling +$125M (+26%).