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Lennox Backs 2019 Outlook; Sees 2020 Profit In Line With View - Quick Facts

Lennox International Inc. (LII) reiterated revenue and earnings per share guidance for fiscal year 2019.

The company reiterated its 2019 GAAP earnings per share from continuing operations guidance in a range of $10.65-$10.95, adjusted earnings per share from continuing operations guidance of $11.15 -$11.45. It also reiterated 2019 adjusted revenue growth guidance of 2%-4%, excluding the impact of divestitures. Analysts polled by Thomson Reuters expected the company to report earnings of $11.27 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

The company updated 2019 guidance for capital expenditures from about $155 million to $129 million, including about $29 million funded by insurance proceeds for the reconstruction of the company's Iowa manufacturing facility that was damaged by a tornado in 2018.

Looking ahead for 2020, the company expects GAAP and adjusted earnings per share from continuing operations to be in the range of $11.30-$11.90, and adjusted revenue growth, excluding divestiture impact, of 4%-8%. It anticipates to repurchase $400 million of stock. Analysts expect annual earnings of $11.78 per share.

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