Key Takeaways Carrier Global's HVAC and aftermarket services likely drove Q2 revenue growth amid rising system demand.The Viessmann deal likely boosted heat pump volumes and expanded clean energy reach.AI-enabled Abound Insights and data center demand likely supported commercial HVAC upgrades.Carrier Global (CARR) is scheduled to report its second-quarter 2025 results on July 29.The Zacks Consensus Estimate for second-quarter earnings is pegged at 91 cents per share, up by a penny over the past 30 days, sug ...

Sales of heat pumps in Germany surpassed gas boilers for the first time as a ban on dirty heating systems forces a shift to cleaner energy https://t.co/anwEdcWrQP ...

Core Insights - Plenitude, a subsidiary of Eni S.p.A, has partnered with Modine to construct a solar power plant in Pocenia, Udine, with an installed capacity of 1.585 MWp and an expected annual electricity production of approximately 1.8 GWh [1][10] - The collaboration includes the installation of high-efficiency heat pumps and condensing boilers, with capacities of 5 MW and 4.6 MW, respectively, under a 10-year Energy Performance Contract model [2][10] - Plenitude aims to triple its renewable energy generation capacity to 10 GW by 2028, currently managing over 4 GW across more than 15 countries [4][10] Company Overview - Modine, founded in 1916, focuses on advanced thermal solutions and emphasizes sustainability in its operations, developing technologies to reduce emissions and energy usage [5][6] - Modine is a signatory to the UN Global Compact, promoting ethical and environmentally responsible business practices [6] Strategic Initiatives - Plenitude has previously installed two solar systems for Modine, a 2.5 MWp system in Pocenia and a 1.183 MWp system in San Vito al Tagliamento, aligning with its strategy to expand its renewable energy portfolio [3][10] - The new solar project with Modine supports both companies' sustainability goals, reinforcing Modine's mission of "Engineering a Cleaner, Healthier World" [6]

Summary of Lennox International (LII) FY Conference Call - May 06, 2025 Company Overview - **Company**: Lennox International (LII) - **Event**: Oppenheimer's 20th Annual Industrial Growth Conference - **Speakers**: CEO Alok Mascarra, CFO Michael Krenser Key Industry Insights - **Transformation Focus**: 2025 is viewed as a transition year from recovery to growth, emphasizing four key pillars: digital customer experience, Samsung joint venture, increasing parts attachment rate, and growing emergency replacement in the commercial business [2][3][4] - **Market Share**: Currently, Lennox holds a low single-digit market share in the ductless product category, which is now 10% of the market [5][6] - **Emergency Replacement**: Successful pilots have led to broader rollouts, with expectations of significant revenue growth in the coming years [6][9] - **Digital Customer Experience**: Achieved record market share in residential by improving fulfillment rates and digital experiences, with further investments planned [6][7][8] Financial Performance and Projections - **2025 Volume Decline**: Projected mid-single-digit volume decline for 2025 due to economic slowdown, but long-term growth of 4% to 6% CAGR in residential unit growth is expected [29][30][31] - **Pricing Strategy**: Price increases have been implemented to counteract tariff impacts, with retention rates being high for the first increase [46][58] - **Growth Drivers for 2026**: Anticipated growth from no pre-buy headwinds, improved efficiencies, and a full year of new product offerings [69][70][72] Strategic Initiatives - **Samsung Joint Venture**: Seen as a significant opportunity for market share gain, especially against competitors from China [78][79] - **Distribution Network Investments**: Focus on enhancing distribution infrastructure with shorter payback periods compared to manufacturing investments [92][93] - **M&A Strategy**: Interest in acquiring services and technology-related companies, although the current market is described as "frozen" due to valuation disagreements [94][95][97] Additional Considerations - **Succession Planning**: New leadership in Home Comfort Solutions with Sarah Martin, who brings experience from Honeywell [23][24] - **Supply Chain Dynamics**: Ongoing adjustments to supply chains in response to tariffs and market conditions, with a focus on maintaining flexibility [52][56] - **Market Trends**: Increasing demand for air conditioning due to climate changes and population shifts towards warmer regions [33][34] Conclusion - **Outlook**: Despite short-term challenges, Lennox International remains optimistic about long-term growth driven by strategic initiatives, market demand, and operational improvements [72][75][76]

Financial Data and Key Metrics Changes - The company reported a 3.7% increase in revenue year-on-year for Q1 2025, driven by strong performance in the HVAC segment and recent acquisitions [8][13] - Adjusted EBITDA grew by 12% year-on-year, with a margin expansion of 150 basis points [6][8] - Adjusted EPS increased by 10% to $1.38 for the quarter [13][17] Segment Performance Changes - In the HVAC segment, revenues grew by 6.8% year-on-year, with organic growth of 4.4% driven by the heating platform [13][14] - The Infection and Measurement segment saw a 2% decline in revenues year-on-year, with organic revenue down 6.9%, partially offset by a 5.2% increase from the acquisition of KTS [15][16] - Segment backlog for HVAC was $451 million, up approximately 3% from Q4, while the Infection and Measurement segment backlog was $346 million, up 56% sequentially [14][16] Market Data and Key Metrics Changes - The company noted a healthy backlog for highly engineered solutions in the HVAC segment, with positive sentiment regarding data center opportunities in 2025 and 2026 [21][22] - Demand in the Detection and Measurement segment remains steady, with regional variations noted, particularly stronger in the U.S. compared to Europe and Asia [42][44] Company Strategy and Industry Competition - The acquisition of Sigma and Omega is expected to enhance the value provided to HVAC customers and position the company for future growth [10][22] - The company aims to leverage its business system to manage tariff impacts and maintain strong margin performance [8][9] - The company believes it is less cyclical than most industrial tech companies due to diverse end market drivers and a high level of replacement revenue [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the updated full-year guidance, anticipating adjusted EBITDA growth of 15% at the midpoint [7][22] - The company is well-positioned to navigate macroeconomic uncertainties and adapt to rapid changes in the environment [22] - Management highlighted strong demand in the HVAC segment, particularly in data centers, and noted that replacement sales are critical and resilient [20][38] Other Important Information - The company ended Q1 with cash of $182 million and total debt of $960 million, resulting in a leverage ratio of approximately 1.6 times [16] - Adjusted free cash flow for Q1 was approximately $36 million [17] Q&A Session Summary Question: What are the assumptions regarding gross and net tariff impact for the year? - Management indicated a tariff impact of approximately $0.08 to $0.12 on adjusted EPS, with a gross cost of around $20 million offset by price increases of about $14 million [28][29] Question: How does the Sigma and Omega acquisition fit into growth rates and EBITDA margins? - Management expressed strong confidence in the acquisition, noting it complements existing products and has synergy opportunities for growth, with expected revenues of $65 million for Sigma and Omega [30][31] Question: What is the outlook for order rates and demand amid tariff-related uncertainty? - Management reported no significant changes in demand, with a balanced performance across HVAC segments and strong activity in data centers [37][38] Question: Can you provide insights on Ingenia's revenue projections and multi-year growth visibility? - Management projected Ingenia's revenue capacity to reach $140 million by the end of the year, with high demand for its unique value proposition [48][50] Question: How does the acquisition of Sigma and Omega affect total addressable market (TAM)? - Management noted that while the TAM for Sigma and Omega is smaller than cooling towers, it still meaningfully expands the company's market opportunities [52][53]

CHARLOTTE, N.C., May 01, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX”, the “Company”, “we” or “our”) today reported results for the first quarter ended March 29, 2025. First Quarter Highlights (amounts presented for continuing operations; all comparisons against the first quarter of 2024, unless otherwise noted) Revenue of $482.6 million, up 3.7%, including 0.4% organicallyGAAP income from continuing operations of $51.7 million, up 5.1%GAAP EPS of $1.10, up 4.8%Adjusted EPS* of $1.38, ...

CHARLOTTE, N.C., April 15, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) ("SPX Technologies" or the "Company") announced today that it has completed the acquisition of Sigma Heating and Cooling and Omega Heat Pump ("Sigma & Omega"). The purchase price of approximately $144 million (CAD 200 million) reflects an acquisition multiple consistent with SPX's typical range of 8x-12x Adjusted EBITDA*. Founded in 1997, Sigma & Omega is a Toronto-based manufacturer of highly engineered hydronic heating ...

Financial Data and Key Metrics Changes - Lennox achieved record revenue exceeding $5 billion for the first time, with adjusted segment profit surpassing $1 billion [5][6] - Adjusted earnings per share reached $5.60 for Q4 and $22.58 for the full year, with core revenue growing 22% in Q4 and 13% for the full year [6][7] - Adjusted segment margin expanded by 250 basis points in Q4 and 150 basis points for the full year, reaching 19.4% [6][15] Business Line Data and Key Metrics Changes - Home Comfort Solutions segment reported 25% revenue growth and 67% segment profit growth, with sales volume increasing by 21% [12][13] - Building Climate Solutions segment experienced 17% revenue growth, with organic sales volume increasing by 14% [14][15] Market Data and Key Metrics Changes - The company noted a significant impact from the pre-purchase of R-410A equipment, estimated to have positively affected revenue by $125 million [12][30] - The transition to low GWP refrigerants is expected to contribute to future revenue growth, with a projected 4% increase from new product introductions [18][19] Company Strategy and Development Direction - The company is transitioning from a recovery and investment phase to a growth acceleration phase, focusing on disciplined investments while prioritizing growth [21][24] - Strategic investments in digital customer experience and expanded product offerings are aimed at capitalizing on growing demand for energy-efficient solutions [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth, anticipating revenue targets of $5.4 billion to $6 billion by 2026, despite headwinds from the 2024 pre-buy [25][26] - The company is closely monitoring market uncertainties, including interest rates and consumer confidence, which could impact future performance [56][57] Other Important Information - The company reported a free cash flow conversion rate of 97%, with capital expenditures expected to exceed depreciation by approximately $65 million [17][19] - The integration of the AES acquisition is ahead of schedule, contributing positively to the company's strategic M&A pipeline [9][10] Q&A Session Summary Question: Comments on the pre-buy impact and its implications for Q1 - Management acknowledged a $125 million pre-buy impact, which will create a headwind for Q1 revenue [30][31] Question: Flat volume outlook for the Home Comfort Solutions segment - Management cited market uncertainties, including low existing home sales and high mortgage rates, as reasons for a conservative volume outlook [32][34] Question: Guidance on incremental margins and inflation assumptions - Management indicated that inflation is expected to increase costs by approximately 3%, while maintaining a cautious approach to revenue guidance [39][41] Question: Revenue outlook for the Building Climate Solutions segment - Management expressed confidence in the health of the markets served, with expectations for mid-single-digit volume growth [46][48] Question: Insights on the new commercial facility in Mexico - Management indicated that the new facility is expected to contribute to volume growth, particularly in the second half of the year [82][84] Question: Inflationary pressures and their impact on costs - Management noted higher inflation in SG&A costs, particularly in healthcare and wages, while remaining vigilant about potential tariff impacts [91][92] Question: New construction versus replacement demand within Home Comfort Solutions - Management expects new construction to remain flattish, driven primarily by interest rates [108][109] Question: Margin dynamics by segment - Management indicated that margins are expected to be flat overall, with BCS seeing potential expansion in the second half of the year [110][111]