SG&A Efficiency Analysis: Comparing Lennox International Inc. and Curtiss-Wright Corporation

SG&A Efficiency: A Tale of Two Corporations

In the competitive landscape of corporate America, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. This analysis compares the SG&A efficiency of Lennox International Inc. and Curtiss-Wright Corporation from 2014 to 2023.

A Decade of Financial Strategy

Lennox International Inc. consistently outpaced Curtiss-Wright Corporation in SG&A expenses, with a notable 23% higher average over the decade. In 2023, Lennox's SG&A expenses peaked at approximately $705 million, marking a 27% increase from 2014. Meanwhile, Curtiss-Wright's expenses grew by 17% over the same period, reaching around $497 million.

Strategic Implications

The data suggests Lennox's aggressive investment in administrative functions, possibly reflecting a strategy focused on growth and market expansion. In contrast, Curtiss-Wright's more conservative approach may indicate a focus on operational efficiency. The absence of 2024 data for Curtiss-Wright leaves room for speculation on future trends.