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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.