Credit and interest ratesmixed · 4 filings
“The change was primarily due to changes in net borrowings and repayments of long-term debt and repurchases of common stock through our share repurchase 26 program.”10-Q · Jul 29, 2026 ↗
Lennox International Inc.
LII
Market read
Lennox International Inc.'s move is spreading beyond its market group.
LII accounts for 15.4% of the group's measured movement across 8.2 effective names. all 12 measured members are falling in raw terms, but 8 of 12 SPY-adjusted paths align to the downside. Capital-flow agreement is 32%, so confirmation is not yet clean. No verified headline preceded the measured group move.
MOVE ANATOMY
SPY-adjusted 5m pathsIs this move genuinely shared?
Role in the moveCounter-move#2 of 12 by movement share
Group movement share15.4%Absolute path energy—not portfolio weight
Relative path+1.36%counter
Effective breadth8.2 / 12broad
Relative alignment8/12downside path · 4 counter-moving
Capital-flow agreement32%not yet clean
SEQUENCE READ
LII was the first measured mover. LII crossed its material path threshold at 13:20 ET. MBC, KBH, HD followed.
What changed
- Revenue increased 5.8% versus the comparable filing period.
- Operating margin fell 1.3 percentage points.
EVIDENCE COVERAGE
4 of 18 members in Housing Construction are active. 0 of 8 disclosed connections are confirming.
What would change this read
Watch this read- At least 12 of 18 durable members become active together.
- Capital-flow agreement rises above 55%.
- IBP remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 6 of 18 members or fewer.
Research brief
The story so far
LII accounts for 15.4% of the group's measured movement across 8.2 effective names. all 12 measured members are falling in raw terms, but 8 of 12 SPY-adjusted paths align to the downside. Capital-flow agreement is 32%, so confirmation is not yet clean. No verified headline preceded the measured group move.
Evidence that supports
- Revenue increased 5.8% versus the comparable filing period.
Evidence that challenges
- Operating margin fell 1.3 percentage points.
- Gross margin fell 0.8 percentage points.
- Net margin fell 1.8 percentage points.
What would clarify the read
- At least 12 of 18 durable members become active together.
- Capital-flow agreement rises above 55%.
- IBP remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements72
Verified relationships12
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Latest annual revenue changed -2.7% year over year.
Questions before a position
- P/E is 53% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 38% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
372.616m-26.7%12m-33.2%24m-33.0%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$4.2B+15.4%$12.39-2.8%
2022-12-31$4.7B+12.5%$13.88-4.5%
2023-12-31$5.0B+5.6%$16.58-0.3%
2024-12-31$5.3B+7.2%$22.66+0.3%
2025-12-31$5.2B-2.7%$22.79-1.1%
What management says matters
Persistent and emerging business drivers
Input and raw-material costsmixed · 4 filings
“26 decreased by $68 million as compared to the same period in 2025, primarily due to lower sales volumes, which resulted in $104 million profit headwind, $25 million from product cost inflation and lower factory absorption, net of $25 million in tariff refund…”10-Q · Jul 29, 2026 ↗
Macroeconomic conditionsmixed · 4 filings
“26 decreased by $68 million as compared to the same period in 2025, primarily due to lower sales volumes, which resulted in $104 million profit headwind, $25 million from product cost inflation and lower factory absorption, net of $25 million in tariff refund…”10-Q · Jul 29, 2026 ↗
Tariffs and trade policymixed · 3 filings
“26 decreased by $68 million as compared to the same period in 2025, primarily due to lower sales volumes, which resulted in $104 million profit headwind, $25 million from product cost inflation and lower factory absorption, net of $25 million in tariff refund…”10-Q · Jul 29, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 2.5× · EV/sales 2.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
372.61-0.8% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LII. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-29 against the comparable filing from 2025-04-23.
OperationsmixedEvidence score 0
liquiditycautiousEvidence score -1
valuationdiscount
What improved
- Revenue increased 5.8% versus the comparable filing period.
What weakened
- Operating margin fell 1.3 percentage points.
- Gross margin fell 0.8 percentage points.
- Net margin fell 1.8 percentage points.
Filing receipts
“Segment profit in the first quarter of 2026 increased $37 million as compared to the same period in 2025 primarily due to $24 million profit benefit from higher sales volumes and $22 million increase in favorable mix and price, and $7 million profit benefit from sales volumes from completed acquisitions, which were partially offset by $8 million in product cost inflation and lower factory absorption, and $8 million from other costs.”
“Segment profit in the first quarter of 2026 decreased $37 million as compared to the same period in 2025, primarily due to lower sales volumes, resulting in a $56 million profit headwind, $23 million in product cost inflation and lower factory absorption, and $1 million in other costs.”
“First Quarter of 2026 Compared to First Quarter of 2025 - Results by Segment Home Comfort Solutions The following table presents our Home Comfort Solutions segment's net sales and profit for the first quarter of 2026 and 2025 (dollars in millions): For the Three Months Ended March 31, 2026 2025 Difference % Change Net sales $ 650.0 $ 721.4 $ (71.4) (10) % Profit $ 86.5 $ 123.9 $ (37.4) (30) % % of net sales 13.3 % 17.2 % Net sales decreased 10% in the first quarter of 2026 as compared to the same period in 2025 primarily due to a 21% decrease in sales volumes, which was partially offset by a 9% increase from favorable mix and price and a 2% increase in sales volumes from completed acquisiti...”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind LII
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AWIArmstrong World Industries, Inc.supplierFeb 17, 2026 ▾
“The Allied Air Enterprise business and brands (“Armstrong Air,” “AirEase,” “Concord,” “Ducane,” “Allied,” and “MagicPak”) include a full line of heating, ventilation and air conditioning products and are sold through independent wholesale distributors in the…”
CARRCarrier Global CorporationcustomerFeb 17, 2026 ▾
“Home Comfort Solutions • Heating & Cooling Products - Carrier Global Corporation (Carrier, Bryant, Payne, Tempstar, Comfortmaker, Heil, Arcoaire, KeepRite, Day & Night); Trane Technologies plc (Trane, American Standard, Ameristar, Oxbox, RunTru); Paloma Indus…”
Depended on by
AAONAAON, Inc.competitorMar 2, 2026 ▾
“Competition The Company’s comfort cooling products primarily compete with Lennox (Lennox International, Inc.), Trane (Trane Technologies plc), York Light Commercial (Bosch Home Comfort Group), Johnson Controls (Johnson Controls International PLC), Carrier (Ca…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 14 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LII is currently a Participant in the organic co-movement group Housing Construction. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.