USA: Lennox International achieved record Q4 revenue of $965m, with full year revenue up 15% to a record $4.19bn.
Total segment profit for the full year rose 19% to $604m. Residential revenue was up 12% on double-digit growth in both replacement and new construction business, but the commercial business – hit the hardest by Covid-19 and global supply chain disruptions in Q4 – saw revenue down 11%.
“Covid-19 and global supply chain disruptions continued to have a significant impact on operations in the fourth quarter as expected, and reported financial results were also impacted from having 6% fewer days than in the prior-year quarter,” said chairman and CEO Todd Bluedorn. “In the face of these challenges, the team performed extremely well.”