Lennox Posts Softer 2025 Sales but Lifts Margins and Sets 2026 Growth Outlook
- brg_news_room
- Feb 3
- 1 min read
USA: Lennox reported mixed results for 2025, with revenue slipping 3% to US$ 5.2 billion amid weaker volumes, channel destocking and subdued construction demand. Fourth-quarter revenue fell 11% year on year, while adjusted earnings per share declined 22%. Despite this, the company achieved record annual margins above 20%, supported by cost controls, pricing discipline and favourable product mix. Home Comfort Solutions faced the sharpest pressure, with lower volumes and softer new construction, although inventories are nearing normal levels. In contrast, Building Climate Solutions delivered growth, helped by service demand and emergency replacements. Full-year net income was broadly stable at US$ 806 million, and segment profit rose 2%. For 2026, Lennox expects revenue growth of 6–7%, aided by acquisitions, with adjusted EPS guidance of US$ 23.50–US$ 25.00 and solid free cash flow projections.
Source: Lennox
