Investors turned icy cold toward Lennox International stock, sending shares angling toward their worst day in 25 years after the HVAC company cut its full-year outlook.

Shares of Lennox International tumbled 21% to $432.37 on Wednesday, putting them on pace for their largest daily percentage decline since March 19, 2001. The stock also was the worst performer Wednesday in the S&P 500.

The sharp decline in share price came after Lennox International -- which manufactures heat pumps, air conditioning, and air quality systems -- on Wednesday reduced its full-year earnings outlook to $23 to $24 a share, down from its previous $23.50 to $25 a share view.

The company reaffirmed its sales growth guidance of around 8% as well as its free cash flow of $750 million to $850 million. But Wall Street focused in on the cut in profit guidance.

Lennox International reduced its outlook as second-quarter earnings came in at $7.72 a share, down from $7.82 a year ago but slightly beating Wall Street expectations for $7.67. Sales grew 3% to $1.54 billion, coming in a shade light compared to the analyst consensus call for $1.56 billion, according to FactSet.

CEO Alok Maskara on the earnings call Wednesday said that elevated market rates, inflationary pressures, and "historically low consumer confidence" are all constraining demand for the company's home comfort solutions.

"Our long-term demand outlook remains unchanged, even though the residential demand recovery has been slower than anticipated. As a result, we now expect the most meaningful recovery benefits to extend into 2027 rather than occur in the back half of this year," Maskara said.

Management added that residential demand for its services is suffering due to affordability and weather variability along with lower new construction activity. Maskara added that some consumers are shifting from replacing systems to repairing existing heating and cooling setups.

Maskara, however, believes the underlying demand for Lennox International remains stable.

"Our focus remains on controlling the controllable," Maskara added.

While Lennox International is focusing on controlling what it can, Wall Street was shedding shares, sending the stock toward its lowest closing price since Feb. 6, 2024.