Lennox Updates FY18 Outlook - Quick Facts

(RTTNews) - Lennox International Inc. (LII) raised its 2018 EPS guidance by $1.10, incorporating the net benefits from U.S. tax legislation, to a new range of $9.75-$10.35. The company reiterated 2018 guidance for revenue growth of 3-7%. The company raised 2018 free cash flow guidance to $395 million from approximately $330 million to align with working capital timing between the two years, as well as the cash benefit from U.S. tax legislation in 2018. For 2018, the company increased its stock repurchase plans to $350 million from $300 million.

For the fourth quarter of 2017, adjusted income from continuing operations was $71.0 million, or $1.68 per share, compared to $65.2 million, or $1.50 per share, in the prior-year quarter. Revenue was $892 million, down 1%. Foreign exchange was favorable to revenue growth by 1 percentage point. Volume and mix were down, and price was up from the fourth quarter a year ago.