Lennox Q3 Profit Rises, Beats Estimates

(RTTNews) - Lennox International (LII) Monday reported third-quarter profit which increased, helped by growth in the residential segment. While profit topped the Street view, revenues fell short.

Net profit grew to $67.4 million or $1.38 per share, from $64.3 million or $1.27 per share last year.

Excluding certain items, the company recorded a profit of $70.3 million or $1.44 per share, compared with $65.5 million or $1.30 per share.

Fifteen analysts polled by Thomson-Reuters on average estimated earnings to be $1.42. Analysts' estimates typically exclude one-time items.

Lennox's net sales increased to $898.4 million from last year's $868 million. Analysts expected $910.15 million of revenues.

The company reaffirmed its annual guidance for adjusted earnings of $4.30 per share and $4.50 per share and revenue growth of 5 to 7 percent.

Lennox, however, lowered its annual net earnings guidance to $4.21- $4.41 per share from $4.27- $4.47 per share previously projected.

Analysts expect earnings of $4.37 on revenues of $3.36 billion for the year.