Lennox Raises FY17 Earnings Outlook - Quick Facts

(RTTNews) - Lennox International Inc. (LII) raised its outlook for fiscal 2017 reported earnings and reiterated its forecast for full-year adjusted earnings as well as revenue.

For fiscal 2017, Lennox raised its forecast for reported earnings per share from continuing operations to a range of $7.65 to $8.25 from the prior range of $7.55 to $8.15.

The revised outlook incorporates the $0.17 first-quarter benefit from recent GAAP accounting requirements regarding excess tax benefits from share-based compensation against $0.07 in charges for special items.

Lennox also reiterated its outlook for fiscal 2017 adjusted earnings per share from continuing operations in a range of $7.55 to $8.15, and revenue growth of 3 percent to 7 percent, with a minimal impact from foreign exchange.

On average, analysts polled by Thomson Reuters expect the company to report profit per share of $7.94 for fiscal 2017 on revenues of $3.81 billion. Analysts' estimates typically exclude special items.