Lennox Backs 2019 Outlook; Sees 2020 Profit In Line With View - Quick Facts

(RTTNews) - Lennox International Inc. (LII) reiterated revenue and earnings per share guidance for fiscal year 2019.

The company reiterated its 2019 GAAP earnings per share from continuing operations guidance in a range of $10.65-$10.95, adjusted earnings per share from continuing operations guidance of $11.15 -$11.45. It also reiterated 2019 adjusted revenue growth guidance of 2%-4%, excluding the impact of divestitures. Analysts polled by Thomson Reuters expected the company to report earnings of $11.27 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

The company updated 2019 guidance for capital expenditures from about $155 million to $129 million, including about $29 million funded by insurance proceeds for the reconstruction of the company's Iowa manufacturing facility that was damaged by a tornado in 2018.

Looking ahead for 2020, the company expects GAAP and adjusted earnings per share from continuing operations to be in the range of $11.30-$11.90, and adjusted revenue growth, excluding divestiture impact, of 4%-8%. It anticipates to repurchase $400 million of stock. Analysts expect annual earnings of $11.78 per share.