Lennox Q1 Tops Estimates on EPS and Revenue; Affirms Full-Year Adjusted EPS

Lennox International (LII), a heating, air conditioning and refrigeration company, reported Q1 adjusted earnings of $1.68 per share, up from $1.22 in the same period a year ago and exceeding the estimate of $1.43 from analysts polled by Capital IQ.

Total revenue of $790.3 million was down from $834.8 million in the same period a year ago and topped the Street projection of $748.6 million.

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Lennox reiterated its guidance that full-year 2019 adjusted EPS from continuing operations would be in the range of $12.00 to $12.60, straddling the Street projection of $12.32. The company said it continues to expect full-year revenue growth in the range of 3% to 7% from $3.8 billion in 2018. The guidance implies a range of $4 billion to $4.15 billion, topping the Street estimate of $3.88 billion.

The company lowered full-year GAAP EPS from continuing operations guidance to a range of $12.65 to $13.25 from a prior range of $14.30 to $14.90.

Lennox increased 2019 guidance for stock repurchases to $400 million from $350 million.

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