Lennox International Files Q3 2024 10-Q

TL;DR

Lennox Intl (LII) filed its Q3 2024 10-Q. Financials are in.

AI Summary

Lennox International Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its fiscal year end of December 31st. Key financial data and reporting periods are outlined, such as the third quarter of 2024 and the year-to-date period.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for Lennox International, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• 2024 Q3 — Reporting Period (Financial results for the third quarter of 2024 are detailed.)
• 2024-09-30 — End of Reporting Period (The financial data reflects the company's status as of this date.)
• 2023-09-30 — Prior Year Period End (Comparison data for the same period in the previous year is included.)

Key Players & Entities

• LENNOX INTERNATIONAL INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241023 (date) — Filing Date
• RICHARDSON, TX (location) — Business Address

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value per share LII New York Stock

Filing Documents

• lii-20240930.htm (10-Q) — 1226KB
• lii-ex311_2024930x10q.htm (EX-31.1) — 9KB
• lii-ex312_2024930x10q.htm (EX-31.2) — 9KB
• lii-ex321_2024930x10q.htm (EX-32.1) — 7KB
• 0001628280-24-043392.txt ( ) — 6556KB
• lii-20240930.xsd (EX-101.SCH) — 41KB
• lii-20240930_cal.xml (EX-101.CAL) — 87KB
• lii-20240930_def.xml (EX-101.DEF) — 182KB
• lii-20240930_lab.xml (EX-101.LAB) — 556KB
• lii-20240930_pre.xml (EX-101.PRE) — 408KB
• lii-20240930_htm.xml (XML) — 935KB

Financial Information

Part I Financial Information

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets - September 30, 2024 (Unaudited) and December 31, 2023 1 Consolidated Statements of Operations (Unaudited) - Three and Nine Months Ended September 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income (Unaudited) - Three and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Stockholders' Equity (Unaudited) - Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows (Unaudited) - Nine Months Ended September 30, 2024 and 2023 6

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

Other Information

Part II Other Information

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30 i

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements LENNOX INTERNATIONAL INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in millions, except shares and par values) As of September 30, 2024 As of December 31, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 243.1 $ 60.7 Short-term investments 12.6 8.4 Accounts and notes receivable, net of allowances of $ 16.2 and $ 14.4 in 2024 and 2023, respectively 816.5 594.6 Inventories, net 689.2 699.1 Other assets 69.6 70.7 Total current assets 1,831.0 1,433.5 Property, plant and equipment, net of accumulated depreciation of $ 952.6 and $ 910.8 in 2024 and 2023, respectively 754.8 720.4 Right-of-use assets from operating leases 270.5 213.6 Goodwill 219.9 222.1 Deferred income taxes 71.2 51.8 Other assets, net 165.8 156.9 Total assets $ 3,313.2 $ 2,798.3 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 477.5 $ 374.7 Accrued expenses 444.7 416.1 Income taxes payable 13.3 4.2 Commercial paper — 150.0 Current maturities of long-term debt 312.7 12.1 Current operating lease liabilities 67.8 57.5 Total current liabilities 1,316.0 1,014.6 Long-term debt 827.6 1,143.1 Long-term operating lease liabilities 214.9 164.6 Pensions 16.3 22.5 Other liabilities 184.4 168.2 Total liabilities 2,559.2 2,513.0 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.01 par value, 25,000,000 shares authorized, no shares issued or outstanding — — Common stock, $ 0.01 par value, 200,000,000 shares authorized, 87,170,197 shares issued 0.9 0.9 Additional paid-in capital 1,204.9 1,184.6 Retained earnings 3,994.0 3,506.2 Accumulated other comprehensive loss ( 70.7 ) ( 56.9 ) Treasury stock, at cost, 51,537,964 shares and 51,588,103 shares for 2024 and 2023, respectively ( 4,375.1 ) ( 4,349.5 ) Total stockholders' equity 754.0 285.3 Total liabilities and stockholders' equity $ 3,313.2 $ 2,798.3 The accompanying notes are an integral part of these consol

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. General: References in this Quarterly Report on Form 10-Q to "we","our","us","LII" or the "Company" refer to Lennox International Inc. and its subsidiaries, unless the context requires otherwise. Basis of Presentation The accompanying unaudited Consolidated Balance Sheet as of September 30, 2024, the accompanying unaudited Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023, the accompanying unaudited Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023, the accompanying unaudited Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023, and the accompanying unaudited Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 should be read in conjunction with our audited consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The accompanying consolidated financial statements contain all material adjustments, consisting principally of normal recurring adjustments, necessary for a fair presentation of our financial position, results of operations and cash flows. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to applicable rules and regulations, although we believe that the disclosures herein are adequate to make the information presented not misleading. The operating results for the interim periods are not necessarily indicative of the results that may be expected for a f

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View this 10-Q filing on SEC EDGAR