Lennox International (LII) Q1 FY2026 earnings: revenue $1.1 billion, up 5.8% on the year

Lennox International Inc. (LII) reported revenue of $1.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 5.8% on the same quarter a year earlier. Net income was $117 million, down 9.6% on the year, and diluted earnings per share $3.35. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue

$1.1 billion

+5.8% on the year · -5.0% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

14.4%

15.7% a year earlier

Q2 FY2024Q1 FY2026

Net income

$117 million

-9.6% on the year · -17.8% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$3.35

-7.7% on the year · -17.7% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 2 kept.

Revenue rose 6% on acquisitions: Revenue was $1,135.1 million, up 6% from $1,072.6 million. The company attributed the increase to revenue from completed acquisitions.
Diluted EPS fell 8% to $3.35: Net income was $117.2 million, or $3.35 diluted EPS, against $129.6 million and $3.63 a year earlier. Diluted weighted shares were 35.0 million.
Home Comfort revenue fell 10%: Home Comfort Solutions revenue was $650.0 million, down 10%. Management described this as a sequential improvement from the 21% decline in the fourth quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,135	1,195	1,073	-5.0%	+5.8%
Cost of revenue	784	806	732	-2.7%	+7.1%
Gross profit	351	389	341	-9.8%	+3.1%
Gross margin	30.9%	32.6%	31.8%
Selling, general and administrative	185	175	171	+5.7%	+8.1%
Operating income	164	196	168	-16.5%	-2.7%
Operating margin	14.4%	16.4%	15.7%
Interest expense	15.2	15.9	6.2	-4.4%	+145.2%
Pre-tax income	147	179	161	-17.8%	-8.6%
Income tax	29.7	36.2	31.2	-18.0%	-4.8%
Effective tax rate	20.2%	20.3%	19.4%
Net income	117	142	130	-17.8%	-9.6%
Net margin	10.3%	11.9%	12.1%
Diluted EPS	$3.35	$4.07	$3.63	-17.7%	-7.7%

$ million except per share.

Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	16.1	406	-35.8	-96.0%
Capital expenditure	55.5	29.2	25.5	+90.1%	+117.6%
Free cash flow	-39.4	377	-61.3
Free cash flow margin	-3.5%	31.5%	-5.7%
Cash from investing	-56.6	-568	-23.5
Cash from financing	57.1	162	-141	-64.7%
Depreciation and amortisation	29.2	33.1	25.6	-11.8%	+14.1%
Share-based compensation	6.3	8.3	6.3	-24.1%	0.0%
Buybacks	19.5	150	85.2	-87.0%	-77.1%
Dividends paid	45.2	45.6	40.9	-0.9%	+10.5%
Diluted shares, weighted	35m	n/a	36m		-2.0%
Shares outstanding at period end	35m	35m	35m	-0.0%	-1.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	1,214	1,163	852	+4.4%	+42.4%
Debt	1,523	1,388	1,149	+9.7%	+32.5%
Operating lease liabilities	348	293	264	+18.5%	+31.8%
Finance lease liabilities	50.1	50.6	40.0	-1.0%	+25.2%
Other liabilities	1,158	1,186	1,150	-2.4%	+0.7%
Total liabilities and equity	4,293	4,082	3,455	+5.2%	+24.2%
Fixed assets	918	887	810	+3.4%	+13.2%
Goodwill	504	497	220	+1.3%	+129.0%
Intangible assets	270	273	n/a	-1.2%
Investments	2.0	0.5	5.7	+300.0%	-64.9%
Cash and equivalents	48.2	34.2	217	+40.9%	-77.8%
Receivables	648	579	652	+11.9%	-0.6%
Inventory	1,210	1,153	902	+5.0%	+34.1%
Other assets	694	658	648	+5.4%	+7.1%
Total assets	4,293	4,082	3,455	+5.2%	+24.2%

Questions

What was Lennox International's revenue in Q1 FY2026?

Lennox International (LII) reported revenue of $1.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 5.8% on the same quarter a year earlier.

How much did Lennox International earn in Q1 FY2026?

Net income for Q1 FY2026 was $117 million, down 9.6% on the year, and diluted earnings per share $3.35.

When did Lennox International report Q1 FY2026 results?

Lennox International filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 29 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024 †	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	965	1,013	1,366	1,245	1,094	1,049	1,411	1,366	1,155	1,047	1,451	1,498	1,345	1,073	1,501	1,427	1,195	1,135	1,545	1,572
Cost of revenue	711	745	969	911	809	743	954	938	800	707	963	1,010	890	732	983	940	806	784	1,006	1,075
Gross profit	254	268	397	334	285	307	458	428	355	340	488	488	455	341	518	487	389	351	540	497
Gross margin	26%	26%	29%	27%	26%	29%	32%	31%	31%	32%	34%	33%	34%	32%	34%	34%	33%	31%	35%	32%
SG&A	152	155	170	147	155	168	181	179	178	171	168	184	207	171	173	162	175	185	183	177
Operating income	97.5	112	227	186	132	140	279	187	185	167	320	303	245	168	349	329	196	164	355	312
Operating margin	10%	11%	17%	15%	12%	13%	20%	14%	16%	16%	22%	20%	18%	16%	23%	23%	16%	14%	23%	20%
Interest expense	6.1	6.8	8.7	10.5	12.7	14.2	15.0	11.2	11.3	11.8	12.5	8.9	5.5	6.2	8.3	10.5	15.9	15.2	14.7	17.5
Pre-tax income	90.2	104	217	175	120	125	264	175	174	154	307	294	239	161	340	317	179	147	340	293
Tax rate	7%	20%	18%	19%	21%	22%	18%	26%	17%	19%	20%	19%	17%	19%	19%	18%	20%	20%	21%	25%
Net income	83.5	83.6	177	142	94.4	98.0	217	130	144	124	246	239	198	130	274	260	142	117	269	221
Net margin	9%	8%	13%	11%	9%	9%	15%	10%	13%	12%	17%	16%	15%	12%	18%	18%	12%	10%	17%	14%
Diluted EPS	$2.27	$2.29	$4.96	$3.99	$2.64	$2.75	$6.10	$3.65	$4.04	$3.47	$6.87	$6.68	$5.52	$3.63	$7.71	$7.38	$4.07	$3.35	$7.72	$6.41
Operating cash flow	119	-97.9	97.1	171	132	-78.8	196	313	306	-22.8	184	452	332	-35.8	86.8	301	406	16.1	172	395
Capital expenditure	38.3	25.8	20.9	20.3	34.1	35.4	49.9	39.7	125	29.5	32.7	41.2	60.2	25.5	28.5	35.6	29.2	55.5	35.7	33.2
Free cash flow	80.9	-124	76.2	151	98.1	-114	146	274	181	-52.3	151	411	272	-61.3	58.3	265	377	-39.4	136	362
Buybacks	0.0	200	100	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	12.9	40.7	85.2	210	37.0	150	19.5	132	151
Dividends paid	33.7	33.7	33.2	75.1	0.0	37.6	37.6	78.2	0.0	39.1	39.2	41.0	41.0	40.9	40.8	45.7	45.6	45.2	45.3	47.0
Shares outstanding	36m	36m	35m	35m	36m	36m	36m	36m	36m	36m	36m	36m	36m	35m	35m	35m	35m	35m	35m	34m
Filing	10-Q	10-Q	10-Q	10-Q	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 29 April 2026: the filing.