Guidance
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FY2026 Q1
상향
Lennox International, Inc. 실적 발표
Buzzberg 분석
Company raises revenue guidance due to price actions
Lennox reported a return to revenue growth (+6%) with BCS strength offsetting HCS softness. The company maintained full-year EPS guidance despite higher tariffs and input costs, raising the revenue outlook to +8% on price hikes and raising segment revenue guidance for both HCS and BCS. Revenue grew 6% to $1.1B, with EPS of $3.35; segment margin fell 130bps on $15M under-absorption.
Buzzberg 분석 Company raises revenue guidance due to price actions Lennox reported a return to revenue growth (+6%) with BCS strength offsetting HCS softness. The company maintained full-year EPS guidance despite higher tariffs and input costs, raising the revenue outlook to +8% on price hikes and raising segment revenue guidance for both HCS and BCS. Revenue grew 6% to $1.1B, with EPS of $3.35; segment margin fell 130bps on $15M under-absorption. 전체 분석 보기분석 접기
Lennox reported a return to revenue growth (+6%) with BCS strength offsetting HCS softness. The company maintained full-year EPS guidance despite higher tariffs and input costs, raising the revenue outlook to +8% on price hikes and raising segment revenue guidance for both HCS and BCS. Revenue grew 6% to $1.1B, with EPS of $3.35; segment margin fell 130bps on $15M under-absorption.
- HCS organic revenue declined 12%, but the volume decline of 21% was a marked improvement from -32% in Q4 2025.
- BCS organic sales surged 26% with 300bps margin expansion, driven by emergency replacement, national accounts, and new 454B product mix.
- Full-year EPS guidance maintained at $23.50-$25.00, with revenue guidance raised to ~8% growth.
매출$1.1351B-5% 전분기 대비
주당순이익(EPS)$3.35-25% 전분기 대비
매출총이익률30.95%보고값
영업이익률14.63%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Margins
Cost inflation guidance nearly doubled to 5%
Pricing
New price increase announced, impacting second half
핵심 내용 3개 더 보기
Demand
BCS organic sales up 26% with record quarter
Demand
HCS volumes improve sequentially from Q4 decline
Supply Chain
Inventory build significantly reduced versus prior year
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $1.1351B | -5% 전분기 대비 |
| 주당순이익(EPS) | $3.35 | -25% 전분기 대비 |
| 매출총이익률 | 30.95% | 보고값 |
| 영업이익률 | 14.63% | 보고값 |
| 잉여현금흐름 | $-0.0394B | 보고값 |
| 자본지출 | $0.0555B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 자본지출 | FY2026 | $250M | $250M | 유지 |
| 잉여현금흐름 | FY2026 | $750M–$850M | $800M | 유지 |
| 매출 | FY2026 | 8% | 8% | 상향 |
| 매출HCS | FY2026 | 4% | 4% | 상향 |
| 매출BCS | FY2026 | 16% | 16% | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
Measured
Management expressed confidence in underlying momentum and reiterated guidance despite cost inflation, but highlighted ongoing uncertainty and the need for continuous execution.
경영진의 AI 분석
Management highlighted AI investments in pricing, demand planning, and agentic AI for SG&A productivity. They noted good results in pricing and demand planning, with optimism for future benefits, but no specific revenue or adoption metrics were provided.
투자 및 생산능력
The company reaffirmed its 2026 capital expenditure guidance of approximately $250 million, focused on innovation and training centers, digital capabilities, distribution network optimization, ERP modernization, and targeted AI capabilities. This represents a year-over-year increase of approximately $30 million in Q1.
아래에 언급된 기업 1개 모두 표시
기업발표 이후 수익률
파트너
파트너
Alok Miskara
Samsung ductless JV is gaining momentum, with high-quality products and dealer conversion expected to drive continued upside.
근거
“And we are pleased with the current momentum and feel like there's a lot more upside as we take this forward. especially as we look at everybody's impacted the same way from Taryn.”
외부 신호
공급망 알파 · 3발표 이후 수익률
Lennox has reduced Q1 production by ~30% and built only $60M of inventory versus $210M in the prior year, leading to a $15M under-absorption headwind.
근거
“We reduced our productions about 30% in the first quarter, so there'll be a little bit of absorption that will go into the second quarter, but by the end of the second quarter, the inventory normalization will have occurred.”
Lennox has intentionally shed low-margin residential new construction business, which will negatively impact volume but improve profitability.
근거
“Two steps going to do better than one step. You know, from a profitability perspective, That's going to work in our favor because the margins were like negative to zero in those businesses that we have lost.”
BCS emergency replacement is early innings (2nd inning), but has already taken volume away from Stuttgart, enabling its factory to focus on profitable national accounts.
근거
“I'm still in the second inning or something out of a nine-inning game.”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 1개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.