Lennox (NYSE: LII) reported Q1 EPS of $2.27, $1.01 better than the analyst estimate of $1.26. Revenue for the quarter came in at $931 million versus the consensus estimate of $786.51 million.

GUIDANCE:

Lennox sees FY2021 EPS of $11.40-$12.00, versus the consensus of $11.23.

• Raising guidance for revenue growth from 4-8% to 7-11%; neutral foreign exchange.
• Raising guidance for GAAP EPS from continuing operations from $10.55-$11.15 to $11.33-$11.93.
• Raising guidance for adjusted EPS from continuing operations from $10.55-$11.15 to $11.40-$12.00.
• Corporate expense is now expected to be approximately $95 million compared to prior guidance of $90 million.
• The effective tax rate is still expected to be approximately 21% on an adjusted basis for the full year.
• Capital expenditures are still planned to be approximately $135 million.
• Raising guidance for free cash flow from approximately $325 million to approximately $375 million for the full year.
• The company repurchased $200 million of stock in the first quarter of its planned $400 million for the year.

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