LENNOX INTERNATIONAL INC (LII)

Lennox International Inc. is a global provider of energy-efficient climate-control solutions. It designs, manufactures and markets a broad range of products for the heating, ventilation, air conditioning and refrigeration (HVACR) markets, sold through multiple distribution channels under various brand names. The company was founded in 1895 in Marshalltown, Iowa, by Dave Lennox, who patented a riveted steel coal-fired furnace.

The company has two segments. Home Comfort Solutions (2025 net sales of $3,343.4 million) offers furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort controls, and replacement parts and supplies under brands such as Lennox, Armstrong Air, Ducane, AirEase, Concord, MagicPak, ADP, Allied and Supco. Building Climate Solutions ($1,851.9 million) offers light commercial unitary heating and cooling equipment (rooftop units of 2 to 30 tons and split systems of 1.5 to 20 tons), applied systems, controls, variable refrigerant flow products, and installation and service through National Account Services. It also includes commercial refrigeration products under Heatcraft Worldwide Refrigeration (condensing units, unit coolers, fluid coolers, air-cooled condensers, air handlers and rack systems), as well as AES curbs, diffusers and HVAC recycling and salvage services, and Duro Dyne parts. Total 2025 net sales were $5,195.3 million. In October 2025 the company acquired Duro Dyne and Supco, and it holds a 49.9% joint venture with Ariston Group for water heaters, a 49.9% joint venture with Samsung for ductless and heat pump products, and a 50% refrigeration joint venture in Mexico. It sold its European operations in the fourth quarter of 2023.

Customers are residential and commercial users across North America, reached mainly through independent installing dealers, independent wholesale distributors, commercial contractors, national account customers, original equipment manufacturers, engineering firms, and company-owned Lennox Stores in the U.S. and Canada. Lennox-branded residential products are sold directly to independent dealers, while other brands go through independent distributors. Refrigeration products serve supermarkets, convenience stores, restaurants, warehouses, distribution centers, and industrial and data center cooling. Sales and profit are seasonally higher in the second and third quarters because summer is peak season for air conditioning.

The company operates manufacturing facilities in North America using lean manufacturing and Six Sigma methods, and has a new commercial HVAC factory in Mexico. A central strategic sourcing group buys materials; compressors, motors and controls are the largest component purchases, and steel, aluminum and copper the main raw materials. It holds a minority interest in a joint venture that makes compressors. Engineering and technology teams drive product development, and the company holds numerous patents and trademarks. Main competitors include Carrier, Trane Technologies, Rheem (Paloma Industries), Daikin, Bosch and AAON, along with Hussmann, Emerson (Copeland) and GEA in refrigeration. At December 31, 2025, Lennox employed about 12,900 people, mainly in the U.S. and Mexico.