Company revenue was up 32% to new record of $1.24 billion.
At constant currency revenue was up 30%.
GAAP operating income was up 59% to a record $216 million.
GAAP earnings per share from continuing operations, up 72% to a record $4.51.
Total segment profit rose 45% to a record $222 million.
Total segment margin expanded 160 basis points of 17.9%.
And adjusted earnings per share from continuing operations rose 54% to a record $4.57.
Residential revenue was up 30% as reported and up 29% at constant currency.
Segment profit rose 49% and segment margin expanded 290 basis points to 22.6%.
Residential had comparable revenue growth in both replacement and new construction of approximately 30%.
Lennox Brand revenue was up 30% as was our Allied and other brands combined.
As we previously mentioned, the fourth quarter of 2021 will have a headwind of 6% from fewer days in the prior year quarter, but market demand remains high entering the second half.
Adjusted for weather, air conditioners ramped 30% more during the summer season last year.
This summer, we may not be getting our run time impact of 30%, but there's still lot of people working from home and many will continue to work from home full time or like here at Lennox on a flexible schedule a couple days a week.
If the run time impact is 20%, that will reduce the medium life of an air conditioner from 15 years to around 12 years.
Our original analysis of air conditioner lifespan the years 2005 through 2015.
Since then, for the years 2016 through 2020, weather as measured by average cooling degree days has been 5% hotter in the United States.
Second quarter revenue was up 34% as reported and 33% at constant currency.
Segment profit rose 27%.
Segment margin was 17.9%, down 100 basis points on the timing of expenses and factory inefficiencies.
At constant currency commercial equipment revenue was up more than 30% in the quarter.
Within this, replacement revenue was up more than 40% with planned replacement up 50% and emergency replacement up more than 20%.
Breaking out another way, regional and local business revenue was up more than 20%.
National Account equipment revenue was up more than 50% as market continues to rebound and benefit from the pent-up demand created last year.
On the service side, Lennox National Accounts Services revenue was up more than 30%.
VRF revenue was up more than 25%.
In Refrigeration, for the second quarter, revenue was up 37% as reported and 32% at constant currency.
North America revenues up more than 30%.
Europe Refrigeration revenue was up more than 30% at constant currency.
And Europe HVAC revenue was up more than 25% at constant currency.
Refrigeration segment margins expanded 90 basis points to 9.1% and segment profit rose 52%.
We now expect the revenue growth of 12% to 16% on a reported basis or 11% to 15% at constant currency.
We raised guidance for adjusted earnings per share from continuing operations to $12.10 to $12.70 for the year.
We are raising free cash flow guidance to $400 million for the year and stock repurchase guidance to total $600 million for the year.
We're capturing a higher yield from our first two price increases this year, and now expect $110 million of price benefit from those.
In addition, we just announced the third price increase of up to 8% from most of our businesses that is effective September 1.
This will yield even more price benefit than the $110 million of guidance provided today.
Lastly, as I'm sure most of you saw, the company announced on July 14 that after 15 years I plan to step down as Chairman and CEO of Lennox International by mid-2022.
In the second quarter, revenue from Residential Heating & Cooling was a record $838 million, up 30%.
Volume was up 27%, price was up 3% and mix was down 1%.
Foreign exchange had a positive 1% impact on revenue.
Residential segment profit was a record $190 million, up 49%.
Segment margin expanded 290 basis points to a record 22.6%.
In the second quarter, Commercial revenue was $253 million, up 34%.
Volume was up 29%, price was flat and mix was up 4%.
Foreign exchange had a positive 1% impact to revenue.
Commercial segment profit was $45 million, which was up 27%.
Segment margin was 17.9%, down 100 basis points.
In Refrigeration, revenue was $148 million, up 37%.
Volume was up 30%, price was up 2% and mix was flat.
Foreign exchange had a positive 5% impact to revenue.
Refrigeration segment profit was $14 million, up 52% and segment margin was 9.1%, which was up 90 basis points.
Regarding special items in the second quarter, the company had net after-tax charges of $2 million that included a charge of $1 million for restructuring activities, a net charge of $3.4 million for various other items in total and a benefit of $2.4 million for excess tax benefits from share-based compensation and other tax items.
Corporate expenses were $27 million in the second quarter compared to $19 million in the prior year quarter, primarily on higher incentive compensation.
Overall, SG&A was $168 million compared to $130 million in the prior year quarter.
SG&A was down as a percent of revenue to 13.5% from 13.8% in the prior year quarter.
In the second quarter, cash from operations was $192 million, up from $105 million in the prior year quarter.
Capital expenditures were $21 million in the second quarter compared to approximately $19 million in the prior year quarter.
We generated $170 million -- $171 million of free cash flow in the second quarter, up from approximately $87 million in the prior year quarter.
The company paid $29 million in dividends in the quarter and repurchased $200 million of stock.
The total debt was $1.24 billion at the end of the second quarter, and we ended the quarter with a debt-to-EBITDA ratio of 1.7.
Cash, cash equivalents and short-term investments were $47 million at the end of the second quarter.
As previously announced, on July 14, we raised guidance for 2021 revenue growth from 7% to 11% to a new range of 11% to 15% at constant currency.
We now expect a one point benefit from foreign exchange for revenue growth of 12% to 16% for the year at actual currency.
We raised guidance for 2021 GAAP earnings per share from continuing operations from $11.33 to $11.93 to a new range of $11.97 to $12.57.
And we raised guidance for 2021 adjusted earnings per share from continuing operations from $11.40 to $12 to a new range of $12.10 to $12.70.
As we previously mentioned, the first quarter of 2021 had a 6% benefit for more days than in the prior year quarter.
In the fourth quarter of 2021, we'll have a headwind of 6% from fewer days than the prior year quarter, as Todd mentioned.
We now expect a benefit of $110 million from price for the year, up from our prior guidance of a $90 million benefit.
The new $110 million price guidance reflects the additional yield we are capturing from our first two price increases this year.
In addition, we have announced a third price increase for up to 8% that is effective September 1 for most of our businesses.
This will yield a price benefit on top of $110 million we are currently guiding for full year price this year.
Foreign Exchange is now expected to be a $10 million benefit, up from neutral or our previous assumption.
And we now expect an effective tax rate of approximately 20% on an adjusted basis for the full year compared to the previous guidance of approximately 21%.
Free cash flow is now targeted to be approximately $400 million for the full year, up from prior guidance of approximately $375 million on strong earnings performance in the first half and our current outlook.
We are raising stock repurchase guidance for the year from $400 million, which we completed in the first half to $600 million.
For the headwinds from prior guidance, commodities are now expected to be a headwind of $80 million, up from our prior guidance of $55 million.
With inflation in components, we are reducing our net savings from sourcing and engineering-led cost reductions to a $5 million benefit, down from prior guidance to be a $15 million benefit.
The higher material costs from inflationary pressures in 2021 are leading to a LIFO accounting adjustment of approximately $15 million this year.
Factory productivity is now expected to be a $10 million benefit, down from a $20 million benefit in our prior guidance.
And we are now planning for corporate expenses to be $100 million, up from $95 million in our prior guidance, primarily due to higher incentive compensation.
We still expect residential mix to be a $10 million benefit.
With 30 new Lennox stores planned for this year, our distribution investments are up from last year to a more traditional run rate level, freight is still expected to be a $5 million headwind and tariffs are expected to be a $5 million headwind.
We are planning on SG&A to be approximately -- up approximately 7% for the year or headwind of approximately $45 million.
We still expect net interest and pension expense to be approximately $35 million.
We still expect 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 by the end of 2021 and to have the plant fully operational by mid-2022, and we expect nearly $10 million in annual savings from the third plant.
And finally, we still expect the weighted average diluted share count for the full year to be between 37 million to 38 million shares.

Summary:
GAAP earnings per share from continuing operations, up 72% to a record $4.51.
And adjusted earnings per share from continuing operations rose 54% to a record $4.57.
We are raising free cash flow guidance to $400 million for the year and stock repurchase guidance to total $600 million for the year.
The total debt was $1.24 billion at the end of the second quarter, and we ended the quarter with a debt-to-EBITDA ratio of 1.7.
We are raising stock repurchase guidance for the year from $400 million, which we completed in the first half to $600 million.