I would like to remind everyone that in the course of this call, to give you a better understanding of our operations, we will be making certain forward-looking statements. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties see Lennox International’s publicly available filings with the SEC. Lennox disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Now let me turn the call over to Chairman and CEO, Todd Bluedorn.
Thanks, Steve. Good morning and thank you for joining us.Before I begin, I’d like to introduce Joe Reitmeier, our CFO effective earlier this month. Joe has been the CFO of our Commercial Heating & Cooling business since 2007. Joe is a CPA with an MBA from Case Western Reserve University. Joe is a proven leader with a record of success at Lennox and he will bring a seasoned business perspective to the LII leadership team.So an official welcome as CFO, Joe.Joseph ReitmeierThanks, Todd.Good morning, everyone. Glad to be with you here today, and I look forward to working with Todd and the rest of the leadership team as CFO. I also look forward to working with everyone in the investment community, and I’ll have a chance to meet many of you in person at our upcoming conferences.Todd BluedornGreat. Thanks, Joe.Let me take you through a few key points on the second quarter and then Joe will discuss the financial results in more detail and our outlook for the balance of the year.Total company revenue in the quarter was up 4% at constant currency led by 11% growth in our Residential business. The company overall had 2 points of negative impact on revenue from FX in the quarter. Volume and price were up and mix was down.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV