Lennox International (LII) FY2017 results: revenue $3.8 billion, up 5.4% on the year
Lennox International Inc. (LII) reported revenue of $3.8 billion for fiscal 2017, the year ended 31 December 2017, up 5.4% on the year before. Net income was $306 million, up 10.0%, and diluted earnings per share $7.14. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$3.8 billion
+5.4% on the year
FY2010FY2017
Operating margin
12.9%
11.8% a year earlier
FY2010FY2017
Net income
$306 million
+10.0% on the year
FY2010FY2017
Diluted EPS
$7.14
+13.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,840
3,642
3,467
+5.4%
Cost of revenue
2,714
2,565
2,520
+5.8%
Gross profit
1,125
1,076
947
+4.5%
Gross margin
29.3%
29.6%
27.3%
Research and development
73.6
64.6
62.3
+13.9%
Selling, general and administrative
638
621
580
+2.7%
Operating income
494
429
305
+15.2%
Operating margin
12.9%
11.8%
8.8%
Interest expense
30.6
27.0
23.6
+13.3%
Pre-tax income
464
403
283
+15.2%
Income tax
157
124
95.4
+26.4%
Effective tax rate
33.8%
30.8%
33.8%
Net income
306
278
187
+10.0%
Net margin
8.0%
7.6%
5.4%
Diluted EPS
$7.14
$6.32
$4.09
+13.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
325
374
354
-13.1%
Capital expenditure
98.3
84.3
69.9
+16.6%
Free cash flow
227
290
284
-21.7%
Free cash flow margin
5.9%
8.0%
8.2%
Cash from investing
-98.1
-84.1
-69.8
Cash from financing
-218
-275
-271
Depreciation and amortisation
64.6
58.1
62.8
+11.2%
Share-based compensation
24.9
31.7
26.6
-21.5%
Buybacks
250
300
0.0
-16.7%
Dividends paid
79.7
69.0
59.3
+15.5%
Dividend per share
$1.96
$1.65
$1.38
+18.8%
Diluted shares, weighted
43m
44m
46m
-2.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
50.1
38.0
102
+31.8%
Non-controlling interest
0.0
0.4
0.4
Debt
1,004
868
741
+15.6%
Other liabilities
837
854
837
-1.9%
Total liabilities and equity
1,892
1,760
1,680
+7.5%
Fixed assets
398
361
340
+10.1%
Goodwill
200
195
195
+2.8%
Intangible assets
8.6
7.3
6.2
+17.8%
Cash and equivalents
68.2
50.2
38.9
+35.9%
Receivables
506
470
423
+7.8%
Inventory
484
418
419
+15.7%
Other assets
226
258
259
-12.5%
Total assets
1,892
1,760
1,680
+7.5%
10-K for the year ended 31 December 2017, filed 19 February 2019: the filing.