Overall, for the company, revenue was up 29% to a new first quarter record of $931 million.
At constant currency, revenue was up 28%.
GAAP operating income was a first quarter record $114 million, up 213%.
GAAP earnings per share from continuing operations was a first quarter record $2.20, up 588%.
Total segment profit rose 208% to a first quarter record of $116 million.
Total segment margin expanded 720 basis points to 12.4%, and adjusted points to 12.4%, and adjusted earnings per share from continuing operations rose 305% to a first quarter record $2.27.
Residential revenue was up 37%.
Segment profit rose 197% and segment margin expanded 850 basis points to 15.9%.
Replacement business was up more than 40% and new construction was up more than 25%.
Breaking it down between our Lennox business and our Allied business, Lennox revenue was up about 25%, and Allied was up about 70%.
Second, Residential benefited from the colder winter weather with heating degree days up 13% from the first quarter last year.
Third, I'd like to note that we had -- I would like to note that we had a 6% benefit to revenue for more days in the quarter this year than last year.
Conversely, the fourth quarter will have a 6% headwind from fewer days in the quarter this year.
Adjusting for the days, Residential grew 31% with Lennox growing nearly 20% and Allied growing about 65%.
In addition, for Allied, we had approximately $25 million of pull-forward in the first quarter from different distributor loading patterns this year than last year.
Adjusted for both days and this pull-forward, Allied was up approximately 35% in the quarter.
Working through all this math I gave, adjusting for days and the pull-forward in our Allied business which sells to independent distribution, overall Residential segment revenue was up about 25%.
Revenue is up 12%.
At constant currency, revenue was up 11%.
Segment profit was up 47% and segment margin expanded 330 basis points to 13.8%.
Today, K-12 schools are just a little under 10% of revenue for this -- equipment revenue for this segment.
This business is up more than 20% for us in the first quarter.
Most interest and activity we are seeing are in this K-12 school segment but conversations are taking place with many customers across many industry verticals.
In Refrigeration for the first quarter, revenue was up 21%.
At constant currency, revenue is up 17%.
In North America, revenue was up more than 25%.
Refrigeration segment margin expanded 560 basis points to 6.3%.
The segment profit rose to $8 million from $1 million in the prior year quarter.
We now expect 7% to 11% revenue growth and adjusted earnings per share from continuing operations of $11.40 to $12.
We are also raising free cash flow guidance to $375 million for the full year.
We now assume about 55% of earnings in the first half of the year compared to the prior guidance of about 50%.
We repurchased $200 million of stock in the first quarter and plan on another $200 million for a total of $400 million in our guidance for the year.
In the quarter, revenue from Residential Heating & Cooling was a first quarter record $606 million, up 37%.
Volume was up 32%.
Price was up 1% and mix was up 4%.
Residential profit was a first quarter record $96 million, up 197%.
Segment margin expanded 850 basis points to 15.9%.
In the first quarter, Commercial revenue was a first quarter record $199 million, up 12%.
Volume was up 15%.
Price was flat and mix was down 4%.
Foreign exchange had a positive 1% impact to revenue growth.
Commercial segment profit was a first quarter record $27 million, up 47%.
Segment margin was a first quarter record 13.8%, which was up 330 basis points.
In Refrigeration, revenue was $125 million, up 21%.
Volume was up 15%.
Price was up 1% and mix was up 1%.
Foreign exchange had a positive 4% impact to revenue growth.
Refrigeration segment profit was $8 million in the first quarter compared to $1 million in the prior year quarter.
Segment margin was 6.3%, up 560 basis points.
Regarding special items in the first quarter, the company had net after-tax charges of $2.7 million that included a $2 million net charge for other tax items, a $1.9 million net charge in total for various other items and a $1.2 million benefit for excess tax benefits from share-based compensation.
Corporate expenses were $16 million in the first quarter compared to $14 million in the prior year quarter.
Overall, SG&A was $145 million compared to $131 million in the prior year quarter.
SG&A was down as a percent of revenue to 15.6% from 18.1% in the prior quarter.
In the first quarter, the company used $18 million in cash from operations compared to a usage of $99 million in the prior year quarter.
Capital expenditures were approximately 25 -- $24 million in the first quarter and in the prior year quarter.
Free cash flow was a negative $42 million in the first quarter compared to a negative $123 million in the prior quarter.
The company paid approximately $30 million in dividends in the quarter and repurchased $200 million of stock.
Total debt was $1.17 billion at the end of the first quarter and we ended the quarter with a debt-to-EBITDA ratio of 1.8.
Cash, cash equivalents and short-term investments were $40 million at the end of the first quarter.
For the company, we are raising guidance for 2021 revenue growth from a 48% range to a new range of 7% to 11%, and we still expect foreign exchange to be neutral to revenue for the full year.
We are raising guidance for 2021 GAAP earnings per share from continuing operations from a range of $10.55 to $11.15 to a new range of $11.33 to $11.93, and we are raising our 2021 adjusted earnings per share from continuing operations from $10.55 to $11.15 to a new range of $11.40 to $12.
We have announced a second round of price increases and now expect a benefit of $90 million in price for the year, up from our prior guidance of $50 million.
We now expect residential mix of $10 million, up from our prior guidance for neutral mix.
We expect a benefit of $15 million from sourcing and engineering-led cost reduction actions, down from our prior guidance of $25 million.
For commodities, we now expect a $55 million headwind, up from our prior guidance of $30 million.
Corporate expenses are now expected to be approximately $95 million, up from prior guidance of $90 million, primarily due to higher incentive compensation.
We still expect a $20 million benefit from factory productivity.
With 30 new Lennox Stores planned for this year, we will be at a more normal run rate with distribution investments compared to last year.
Freight is still expected to be a $5 million headwind and tariffs are also expected to be a $5 million headwind.
We are planning for SG&A to be up approximately 7% for the year or a headwind of about $45 million.
We still expect interest and pension expense to be approximately $35 million.
We continue to expect an effective tax rate of approximately 21% on an adjusted basis for the full year.
We are still planning capital expenditures to be approximately $135 million this year, about $30 million of which is for the third plant at our campus in Mexico.
We expect construction to be completed at the end of 2021 and have the plant fully operational by mid-2022, and we expect nearly $10 million in annual savings from the third plant.
Free cash flow is now targeted to be approximately $375 million for the full year, up from prior guidance of approximately $325 million on the strong earnings performance in the first quarter and our current outlook.
And finally, we still expect the weighted average diluted share count for the full year to be between 37 million to 38 million shares, which incorporates our plans to repurchase $400 million of stock this year.

Summary:
Overall, for the company, revenue was up 29% to a new first quarter record of $931 million.
GAAP earnings per share from continuing operations was a first quarter record $2.20, up 588%.
Total segment margin expanded 720 basis points to 12.4%, and adjusted points to 12.4%, and adjusted earnings per share from continuing operations rose 305% to a first quarter record $2.27.
We now expect 7% to 11% revenue growth and adjusted earnings per share from continuing operations of $11.40 to $12.
We are raising guidance for 2021 GAAP earnings per share from continuing operations from a range of $10.55 to $11.15 to a new range of $11.33 to $11.93, and we are raising our 2021 adjusted earnings per share from continuing operations from $10.55 to $11.15 to a new range of $11.40 to $12.
Free cash flow is now targeted to be approximately $375 million for the full year, up from prior guidance of approximately $325 million on the strong earnings performance in the first quarter and our current outlook.