Lennox International Q1 Profit Tops Estimates; Reiterates 2022 Earnings Guidance

(RTTNews) - Lennox International Inc. (LII) reported first quarter adjusted net income of $86.1 million, or $2.36 per share, compared to $86.9 million, or $2.27 per share, last year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $2.04, for the quarter. Analysts' estimates typically exclude special items.

On a GAAP basis, net income was $83.6 million, or $2.29 per share, compared to $84.2 million, or $2.20 per share, last year.

First-quarter revenue was $1.01 billion, up 9% from prior year. Analysts on average had estimated $961.61 million in revenue.

"Lennox International posted record first-quarter revenue and EPS, led by strong growth in our Residential and Refrigeration businesses," said Interim CEO Todd Teske.

For fiscal 2022, Lennox reiterated GAAP and adjusted EPS guidance of $13.50-$14.50. The company raised its guidance for revenue growth from 5-10% to 7-11%. Lennox reiterated stock repurchase guidance of $400 million for the full year.