Lennox International opened a new 6,000-square-foot technician training center in Fort Lauderdale, Florida, on September 3, housing its National Account Services division and its Build-A-Tech apprenticeship, which has trained nearly 1,600 technicians since 2016. The company is also building an 18,000-square-foot commercial HVAC training and experience center near its Richardson, Texas headquarters, which will join nine existing Lennox LIVE residential training labs and a refrigeration training site in Stone Mountain, Georgia. The investment follows 24% revenue growth last quarter in Lennox's Building Climate Solutions segment, with 15 percentage points from existing operations, as segment profit rose 29% to $155 million and margin expanded 100 basis points to 25.5%. The residential Home Comfort Solutions segment declined, with revenue down 7% and segment profit down 12% to $222 million as margin slipped 130 basis points to 23.7%. Companywide, GAAP diluted earnings per share were flat at $7.72 on 3% higher total revenue, and Lennox trimmed full-year earnings guidance to $23.00 to $24.00 from $23.50 to $25.00, with about 5 percentage points of its roughly 8% expected revenue growth projected to come from acquisitions including Duro Dyne, Supco, Comfort-Aire and Century.
Lennox International IncLennox trimmed full-year earnings guidance to $23.00-$24.00 from $23.50-$25.00 and its residential segment profit fell 12%.
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