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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jeff Sprague | Vertical Research Partners | 13 questions · 38% challenging |
| Jeff Hammond | KeyBanc Capital Markets | 13 questions · 15% challenging |
| Chris Snyder | Morgan Stanley | 12 questions · 50% challenging |
| Ryan Merkel | William Blair | 12 questions · 8% challenging |
| Deane Dray | RBC Capital Markets | 12 questions · 0% challenging |
| Tommy Moll | Stephens | 12 questions · 8% challenging |
| Noah Kaye | Oppenheimer | 12 questions · 0% challenging |
| Nigel Coe | Wolfe Research | 12 questions · 25% challenging |
| Joe O'Dea | Wells Fargo | 12 questions · 0% challenging |
| Brett Linzey | Mizuho Securities | 10 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| KeyBanc Capital Markets | 1 analyst | 13 questions · 15% challenging |
| Vertical Research Partners | 1 analyst | 13 questions · 38% challenging |
| Wolfe Research | 1 analyst | 12 questions · 25% challenging |
| Morgan Stanley | 1 analyst | 12 questions · 50% challenging |
| Oppenheimer | 1 analyst | 12 questions · 0% challenging |
| RBC Capital Markets | 1 analyst | 12 questions · 0% challenging |
| Stephens | 1 analyst | 12 questions · 8% challenging |
| Wells Fargo | 1 analyst | 12 questions · 0% challenging |
Revenue declined 5% as HCS volumes dropped 12% on deeper-than-expected destocking, though adjusted EPS still reached a Q3 record of $6.98, up 4%, on record segment margins. BCS delivered a strong rebound with 10% revenue growth, but the destocking headwind proved more persistent than anticipated. Management cut full-year EPS guidance to $22.75-$23.25, a 3.2% midpoint reduction.
Demand | Pricing | Competitive Dynamics | Inventory | Margin | Guidance Reliability | Trade Tariffs | Revenue Growth | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 1 | 4 | 1 | 2 | 1 | 2 | 5 |
| 2025Q1 | 6 | 5 | 2 | 2 | 1 | 1 | 4 | |
| 2025Q2 | 12 | 7 | 7 | 4 | 3 | 4 | 3 | 3 |
| 2025Q3 | 12 | 6 | 4 | 9 | 7 | 2 | 3 | |
| 2025Q4 | 11 | 6 | 3 | 6 | 6 | 5 | 1 | 4 |
| 2026Q1 | 8 | 5 | 8 | 5 | 5 | 6 | 7 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 5 | 6 | 12 | 12 | 11 | 8 |
| Pricing | 1 | 5 | 7 | 6 | 6 | 5 |
| Competitive Dynamics | 4 | 2 | 7 | 4 | 3 | 8 |
| Inventory | 1 | 2 | 4 | 9 | 6 | 5 |
| Margin | 2 | 1 | 3 | 7 | 6 | 5 |
| Guidance Reliability | 1 | 1 | 4 | 2 | 5 | 6 |
| Trade Tariffs | 2 | 4 | 3 | 1 | 7 | |
| Revenue Growth | 5 | 3 | 3 | 4 | 2 |
Calendar quarter Q3 2025Earnings call Oct 22, 2025
FY2025 Q3 in brief
Revenue declined 5% as HCS volumes dropped 12% on deeper-than-expected destocking, though adjusted EPS still reached a Q3 record of $6.98, up 4%, on record segment margins.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Lennox International (LII), FY2025 Q3: 3/10. Scores: Lennox International’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: LII daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.34B | +16.5% | $5.52 | +36.6% | 33.9% | 18.2% | 14.7% | $272M |
| FY2025 Q1 | $1.07B | +2.4% | $3.37 | -2.9% | 30.6% | 14.5% | 11.2% | $-61M |
| FY2025 Q2 | $1.50B | +3.4% | $7.82 | +13.8% | 34.8% | 23.6% | 18.5% | $58M |
| FY2025 Q3Selected | $1.43B | -4.8% | $6.96 | +4.2% | 33.3% | 21.7% | 17.2% | $265M |
| FY2025 Q4 | $1.20B | -11.2% | $4.07 | -26.3% | 32.6% | 16.4% | 11.9% | $377M |
| FY2026 Q1 | $1.14B | +5.8% | $3.35 | -0.6% | 30.9% | 14.6% | 10.3% | $-39M |
| FY2026 Q2 | $1.55B | +3.0% | $7.72 | -1.3% | 34.9% | 23.0% | 17.4% | $136M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
GAAP revenue YoY -4.76% → base 4. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
What LII and other companies said about each other on FY2025 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Our bolt-on acquisition of AES Industries in 2023 helped accelerate the attachment of commercial services and was a tremendous success based on financial and strategic metrics.”
Lennox cites its 2023 AES Industries bolt-on as a success that more than doubled its commercial-services business, used as the template for the Durodyne deal.
“Similarly, the recent acquisition of Durodyne and Subco will help accelerate attachment of parts and accessories across both HCS and BCS segments.”
Lennox acquired Durodyne and Subco (~$225M revenue, strong margins) to accelerate parts-and-accessories attachment; the deal is expected to be accretive in 2026.
“Ariston JV adds value only in 2027 in a meaningful way, but it's gonna get some growth next year.”
Lennox's water-heater JV with Ariston is expected to contribute modest growth in 2026 and become meaningful in 2027 as products launch.
“we saw growth in our Samsung product for the first quarter for the first time in Q3. So really pleased with that progress.”
Lennox's ductless JV with Samsung produced its first quarter of growth, positioning Samsung's HVAC brand as an increasingly productive partner in Lennox's ductless expansion.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
LII Lennox International | 3 | -4.8% | |
| BLDR Builders FirstSource | 4 | -6.9% | |
| CARR Carrier Global | 1 | -6.8% | |
| JCI Johnson Controls | 8 | +3.1% | |
| MAS Masco | 2 | -3.3% | |
| TT Trane Technologies | 6 | +5.5% |