Lennox International, Inc. LIIreported better-than-expected results for first-quarter 2018. This stellar performance mainly stemmed from a healthy residential business.
Earnings/Revenues
Quarterly earnings came in at $1.13 per share, outpacing the Zacks Consensus Estimate of $1.08. The bottom line also came in higher than the year-ago tally of 85 cents per share.
Net sales during the reported quarter came in at $834.8 million, comfortably beating the Zacks Consensus Estimate of $815 million. Also, the revenue figure improved 5.2% year over year.
Segmental Details
Residential Heating & Cooling revenues came in at $454 million, up 8% year over year. The upswing primarily stemmed from growth in the replacement business.
Commercial Heating & Cooling revenues came in at $206 million, up 5% year over year. This uptick was backed by growth in the regional and local replacement business.
However, Refrigeration sales dipped 2% year over year to $129 million.