Lennox International Inc. (LII) released its second quarter results on Monday, July 26, 2021. The company reported net earnings of $4.51 per share for the second quarter ending June 30, 2021. Earnings for this past quarter were up 73 percent compared to the same period a year ago.
Lennox International Inc. was founded in 1895 and is headquartered in Richardson, Texas. Lennox International Inc., through its subsidiaries, designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. It operates through three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration.
Lennox International's revenue increased 16 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 30.93% for the second quarter compared to the same period in the previous year, and operating margins increased to 17.32% over the same period. Net earnings for past trailing twelve months were $498.1 million, up 46% from the prior year.
Moving on to the balance sheet, Lennox International's cash levels dropped 1% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 8.11% this past year. The current ratio for Lennox International now stands at 1.19. The company decreased shares outstanding by 2.84%.
Shares of LII are currently trading around $327.32. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 25.14.