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Highlights
- The Community Bank System, Inc’s (NYSE:CBU) total revenue rose by 2.8% YoY in Q3, FY21.
- The operating income of Lennox International Inc. (NYSE:LII) was US$162.7 million in Q3, FY21.
- Lennox expects its revenue growth to be between 13% and 15% in fiscal 2021.
Community Bank System, Inc. (NYSE:CBU) and Lennox International Inc. (NYSE:LII) on Monday posted modest revenue growth in the third quarter of 2021. The CBU stock was up around 1%, while the LII stock declined about 2% in premarket trading on Monday.
Highlights of the quarterly results.
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Community Bank System, Inc. (NYSE:CBU)
Community Bank System is a financial holding company based in New York. It provides various banking services such as employee benefits solutions, etc., to clients.
The company's total revenue increased by 2.8% YoY to US$156.9 million in Q3, FY21. Its net income came in at US$45.33 million, or US$0.83 per diluted share, as compared to US$42.80 million, or US$0.79 per diluted share, in the same quarter of the previous year.
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Analysts surveyed by Reuters had estimated EPS to be US$0.81 per share and the revenue to be US$152.47 million in the third quarter.
CBU has a market cap of US$3.96 billion, a P/E ratio of 21.02, and a forward P/E one year of 21.51. Its EPS is US$3.50. The 52-week highest and lowest stock prices were US$82.53 and US$54.95, respectively. Its trading volume was 177,756 on October 22.
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Lennox International Inc. (NYSE:LII)
Lennox International is a climate control solutions provider based in Richardson, Texas. It manufactures products for heating, ventilation, air conditioning, and refrigeration.
Its earnings missed analysts' estimates for the quarter. The net sales were US$1.059 billion in Q3, FY21, compared to US$1.055 billion in the prior year's third quarter. Its gross profit was US$295.2 million against US$323.3 million in the year-ago quarter.
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The operating income was US$162.7 million versus US$167.1 million in the same quarter of the previous year. Its net income came in at US$126.3 million, or US$3.41 per diluted share, compared to US$131.7 million, or US$3.42 per diluted share, in Q3, FY20.
Lennox has narrowed its revenue guidance to be between 13% and 15% in fiscal 2021, from its previous forecast of 12% and 16%. It also narrowed its GAAP EPS guidance to be between US$11.97 and US$12.17, from its earlier projection of US$11.97 and US$12.57.
Its market cap is US$11.60 billion, the P/E ratio is 23.98, and the forward P/E one year is 24.35. Its EPS is US$13.02. The stock saw the highest price of US$356.36 and the lowest price of US$266.77 in the last 52 weeks. Its share volume on October 22 was 244,762.
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Bottomline
Both the stocks saw significant gains this year. The CBU stock grew by 18.6% YTD, while the LII stock rose by 16.39% YTD. The US market has been upbeat amid strong quarterly earnings reports over the past week. Several big companies, including Amazon and Microsoft, are expected to report their quarterly earnings this week.
