Lennox (NYSE: LII) reported Q2 EPS of $4.57, $0.33 better than the analyst estimate of $4.24. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.15 billion.

"Lennox International posted record revenue and profit in the second quarter with strong growth across all three of our businesses," said Chairman and CEO Todd Bluedorn. "Our Residential business set new highs for revenue, margin and profit. Revenue rose 30% on strong growth in both replacement and new construction business. Segment margin expanded 290 basis points to 22.6%, and profit rose 49%.

"In Commercial, revenue was up 34%. National Accounts revenue was up more than 50%, and Regional & Local revenue was up more than 20%. Segment margin was 17.9%, down 100 basis points from the prior-year quarter. Commercial profit rose 27%. In Refrigeration, revenue was up 37% on strong growth in both North America and Europe. Segment margin expanded 90 basis points to 9.1%, and profit rose 52%.

"Looking ahead for the company overall, we have raised 2021 guidance for revenue, earnings and free cash flow on strong market growth and company performance. Momentum continues into the second half of the year for Residential, as well as for Commercial and Refrigeration, which continue to rebound and benefit from the pent-up demand created last year. As we look to 2022 and beyond, we see the residential replacement cycle spinning faster and continue to position our business to capitalize on strong market growth and share gains."

GUIDANCE:

Lennox sees FY2021 EPS of $12.10-$12.70, versus the consensus of $12.50. Raising 2021 guidance for revenue growth from 7-11% to 11-15% at constant currency; now 12-16% at actual currency.

For earnings history and earnings-related data on Lennox (LII) click here.