Lennox International (LII) FY2014 results: revenue $3.4 billion, up 5.3% on the year
Lennox International Inc. (LII) reported revenue of $3.4 billion for fiscal 2014, the year ended 31 December 2014, up 5.3% on the year before. Net income was $206 million, up 19.8%, and diluted earnings per share $4.23. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$3.4 billion
+5.3% on the year
FY2008FY2014
Operating margin
9.9%
9.0% a year earlier
FY2008FY2014
Net income
$206 million
+19.8% on the year
FY2008FY2014
Diluted EPS
$4.23
+24.8% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,367
3,199
2,949
+5.3%
Cost of revenue
2,464
2,338
2,227
+5.4%
Gross profit
903
861
722
+4.9%
Gross margin
26.8%
26.9%
24.5%
Research and development
60.7
53.7
50.7
+13.0%
Selling, general and administrative
574
570
507
+0.6%
Operating income
335
289
219
+15.8%
Operating margin
9.9%
9.0%
7.4%
Interest expense
17.2
14.5
17.1
+18.6%
Pre-tax income
318
274
202
+15.8%
Income tax
110
94.4
66.7
+16.0%
Effective tax rate
34.5%
34.4%
33.1%
Net income
206
172
90.0
+19.8%
Net margin
6.1%
5.4%
3.1%
Diluted EPS
$4.23
$3.39
$1.75
+24.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
185
210
221
-12.1%
Capital expenditure
88.4
78.3
50.2
+12.9%
Free cash flow
96.4
132
171
-27.0%
Free cash flow margin
2.9%
4.1%
5.8%
Cash from investing
-87.3
-67.3
-40.4
Cash from financing
-89.5
-150
-180
Depreciation and amortisation
60.8
58.9
55.4
+3.2%
Share-based compensation
23.3
29.3
15.2
-20.5%
Buybacks
550
125
50.1
+340.2%
Dividends paid
52.6
34.0
47.6
+54.7%
Dividend per share
$1.14
$0.92
$0.76
+23.9%
Diluted shares, weighted
49m
51m
51m
-4.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
9.0
486
498
-98.1%
Non-controlling interest
0.6
0.8
1.5
-25.0%
Debt
926
400
387
+131.2%
Other liabilities
829
740
806
+12.1%
Total liabilities and equity
1,764
1,627
1,692
+8.5%
Fixed assets
359
336
298
+6.9%
Goodwill
209
217
224
-3.4%
Intangible assets
27.8
27.8
29.4
0.0%
Cash and equivalents
37.5
38.0
51.8
-1.3%
Receivables
421
408
373
+3.3%
Inventory
463
379
375
+22.3%
Other assets
246
222
340
+11.1%
Total assets
1,764
1,627
1,692
+8.5%
10-K for the year ended 31 December 2014, filed 17 February 2015: the filing.