Lennox International Inc. said its third-quarter profit fell despite strong demand across all end markets as global supply-chain and Covid-19 disruptions to production and labor hurt its financial performance.
The provider of climate-control products Monday posted net income of $126.3 million, compared with $131.7 million in the same period last year. Earnings were $3.41 a share, compared with $3.42 a share in the prior year.
Adjusted earnings from continuing operations were $3.40 a share.
Sales were $1.06 billion, up slightly from $1.055 billion. Analysts polled by FactSet were expecting $1.13 billion.
Supply-chain and Covid-19 disruptions hurt third-quarter revenue by about $75 million and operating profit by about $25 million, Lennox International said. Other items that hurt results include higher material, freight, distribution and tariff costs, the company said.