Lennox Int'l (LII) Tops Q1 EPS by 13c, Reiterates FY17 Auidance for Adjusted EPS

Lennox Int'l (NYSE: LII) reported Q1 EPS of $0.90, $0.13 better than the analyst estimate of $0.77. Revenue for the quarter came in at $793.4 million versus the consensus estimate of $747.55 million.

FULL-YEAR OUTLOOKFor 2017, the company is raising guidance for GAAP EPS from continuing operations and reiterating all other guidance points.

• Reiterating 2017 guidance for revenue growth of 3-7%, with a minimal impact from foreign exchange.
• Raising 2017 guidance for GAAP EPS from continuing operations from $7.55-$8.15 to $7.65-$8.25, incorporating 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.
• Reiterating 2017 guidance for adjusted EPS from continuing operations of $7.55-$8.15.
• Reiterating 2017 corporate expenses of approximately $85 million.
• Reiterating an effective tax rate of approximately 32% on an adjusted basis for the full year.
• Reiterating 2017 capital expenditures of approximately $100 million.
• Reiterating guidance for a weighted average diluted share count of 42-43 million shares on a full-year basis, including plans for $250 million of stock repurchases for 2017 in total.

For earnings history and earnings-related data on Lennox Int'l (LII) click here.

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