Lennox Int'l Boosts FY22 Outlook; Q3 Adj. EPS Meets Estimates, Revenues Top
(RTTNews) - While reporting financial results for the third quarter on Thursday, Lennox International Inc. (LII) raised its earnings and revenue growth guidance for the full-year 2022.
For fiscal 2022, the company now projects earnings and adjusted in a range of $13.80 to $14.20 per share on revenue growth of 12 to 15 percent.
Previously, the company expected earnings and adjusted in a range of $13.80 to $14.50 per share on revenue growth of 10 to 15 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $14.22 per share on a revenue growth of 11.5 percent to $4.67 billion for the year. Analysts' estimates typically exclude special items.
"We are building turnaround momentum in our Commercial business and are going to invest in a new commercial factory to help alleviate ongoing manufacturing capacity constraints," said CEO Alok Maskara.
For the third quarter, net income increased to $141.9 million or $3.99 per share from $126.3 million or $3.41 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $4.10 per share, compared to $3.40 per share in the year-ago quarter.
Net sales for the quarter grew 17 percent to $1.24 billion from $1.06 billion in the same quarter last year.
The street was looking for earnings of $4.10 per share on net sales of $1.23 million for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Lennox Int'l Guides FY24 Adj. EPS In Line With Estimates; Q4 Results Top Estimates
Lennox Int'l Boosts FY23 Outlook As Q3 Results Top Estimates
Lennox To Sell European Commercial HVAC And Refrigeration Businesses To Syntagma Capital
Lennox To Sell Its Germany-based Hyfra Process Cooling Business Unit To The Glen Dimplex Group
Lennox Int'l Guides FY23 In Line With Estimates
Lennox Int'l Boosts FY22 Outlook As Q2 Results Top Estimates
CAC 40 Rises Led By Banks
