Lennox Int'l (LII) Guides FY16 EPS In-Line

Lennox International Inc. (NYSE: LII) today announced its financial guidance for 2016. The company expects:

• Revenue growth of 4-8%, with a minimal impact from foreign exchange.
• Adjusted and GAAP EPS from continuing operations of $6.10-$6.60 (consensus is $6.39)
• Effective tax rate of 34-35%.
• Capital expenditures of approximately $95 million.
• Stock repurchases of $200 million.

For 2015, the company updated its guidance for GAAP EPS from continuing operations and reiterated its other guidance points.

• 2015 revenue growth of 5-7% at constant currency and 2-4% including a negative 3 percentage point impact from foreign exchange.
• 2015 adjusted EPS from continuing operations of $5.25-$5.40 (consensus is $5.36)
• 2015 GAAP EPS from continuing operations of $4.31-$4.46 compared to the prior guidance range of $5.08-$5.23. In the new guidance range, the company expects its annual asset impairment analysis at year-end to result in a non-cash, after-tax charge of approximately $35 million relating to the company's Kysor/Warren business.
• 2015 effective tax rate of 34-35%.
• 2015 capital expenditures of approximately $80 million.

As previously announced, Lennox International is hosting an investment community meeting in New York City today, starting at 9:00 a.m. Eastern time. The company will discuss strategic, operational, and financial information, including the company's outlook for 2016 and beyond. The presentation will be webcast and presentation materials will be accessible on the company's website at www.lennoxinternational.com.

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