Lennox International (LII) FY2018 results: revenue $3.9 billion, up 1.2% on the year
Lennox International Inc. (LII) reported revenue of $3.9 billion for fiscal 2018, the year ended 31 December 2018, up 1.2% on the year before. Net income was $359 million, up 17.4%, and diluted earnings per share $8.74. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$3.9 billion
+1.2% on the year
FY2011FY2018
Operating margin
13.1%
12.9% a year earlier
FY2011FY2018
Net income
$359 million
+17.4% on the year
FY2011FY2018
Diluted EPS
$8.74
+22.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,884
3,840
3,642
+1.2%
Cost of revenue
2,773
2,714
2,565
+2.1%
Gross profit
1,111
1,125
1,076
-1.2%
Gross margin
28.6%
29.3%
29.6%
Research and development
72.2
73.6
64.6
-1.9%
Selling, general and administrative
608
638
621
-4.6%
Operating income
510
494
429
+3.0%
Operating margin
13.1%
12.9%
11.8%
Interest expense
38.3
30.6
27.0
+25.2%
Pre-tax income
468
464
403
+0.8%
Income tax
108
157
124
-31.4%
Effective tax rate
23.0%
33.8%
30.8%
Net income
359
306
278
+17.4%
Net margin
9.2%
8.0%
7.6%
Diluted EPS
$8.74
$7.14
$6.32
+22.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
496
325
374
+52.4%
Capital expenditure
95.2
98.3
84.3
-3.2%
Free cash flow
400
227
290
+76.5%
Free cash flow margin
10.3%
5.9%
8.0%
Cash from investing
30.5
-98.1
-84.1
Cash from financing
-538
-218
-275
Depreciation and amortisation
66.0
64.6
58.1
+2.2%
Share-based compensation
26.3
24.9
31.7
+5.6%
Buybacks
450
250
300
+80.1%
Dividends paid
93.9
79.7
69.0
+17.8%
Dividend per share
$2.43
$1.96
$1.65
+24.0%
Diluted shares, weighted
41m
43m
44m
-4.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-150
50.1
38.0
Non-controlling interest
n/a
0.0
0.4
Debt
1,041
1,004
868
+3.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
926
837
854
+10.5%
Total liabilities and equity
1,817
1,892
1,760
-3.9%
Fixed assets
408
398
361
+2.6%
Goodwill
187
200
195
-6.9%
Intangible assets
n/a
8.6
7.3
Investments
0.0
n/a
n/a
Cash and equivalents
46.3
68.2
50.2
-32.1%
Receivables
473
506
470
-6.7%
Inventory
510
484
418
+5.3%
Other assets
194
226
258
-14.3%
Total assets
1,817
1,892
1,760
-3.9%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.