Operational Costs Compared: SG&A Analysis of United Airlines Holdings, Inc. and Lennox International Inc.

A Tale of Two Giants: SG&A Expenses in the Airline and HVAC Industries

In the ever-evolving landscape of corporate finance, understanding operational costs is crucial. This analysis delves into the Selling, General, and Administrative (SG&A) expenses of two industry titans: United Airlines Holdings, Inc. and Lennox International Inc., from 2014 to 2023.

United Airlines, a leader in the aviation sector, saw its SG&A expenses fluctuate significantly, with a notable dip in 2020, coinciding with the global pandemic, reducing costs by approximately 66%. However, by 2023, expenses rebounded to nearly 1.98 billion, reflecting a robust recovery.

Conversely, Lennox International, a key player in the HVAC industry, demonstrated a steady increase in SG&A expenses, peaking at 730 million in 2023, marking a 27% rise over the decade. This trend underscores the company's consistent growth and strategic investments.

While United Airlines faced data gaps in 2024, Lennox's trajectory remained clear, offering insights into industry-specific financial strategies.