By Rob Curran
Lennox shares fell after the maker of heating, ventilation and air-conditioning machinery posted a decline in its first-quarter profit amid higher costs.
The Dallas manufacturer of AC units, furnaces, heat pumps and other climate-control equipment posted net income of $120.3 million, or $3.37 a share, down from $124.3 million, or $3.47 a share, a year earlier.
Revenue rose 2% to $1.07 billion. Cost of goods sold rose 5.2% to $744.1 million.
For 2025, the HVAC maker narrowed its projection for adjusted earnings to a range between $22.25 and $23.50 a share, compared with a prior estimate of $22 to $23.50 a share. The company said any change in sales volumes would likely be offset by corresponding changes in price.
"We are navigating the shifting trade dynamics with flexibility, supported by a more resilient supply chain built through past disruptions," said Chief Executive Alok Maskara, in a statement.
Shares of Lennox fell 5.1% to $530.36 in premarket trading.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 23, 2025 08:13 ET (12:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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