Lennox International Slashes FY20 Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Monday, Lennox International Inc. (LII) slashed its earnings and revenue growth outlook for the full-year 2020, based on current market assumptions.

For fiscal 2020, Lennox now projects earnings from continuing operations in a range of $7.07 to $8.07 per share and adjusted earnings from continuing operations in a range of $7.50 to $8.50 per share, on adjusted revenue decline of 11 to 17 percent.

Previously, the company expected earnings and adjusted earnings from continuing operations in a range of $11.30 to $11.90 per share, on adjusted revenue growth of 4 to 8 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.93 per share on a revenue decline of 1.8 percent to $3.74 billion for the year. Analysts' estimates typically exclude special items.

The company also said it currently assumes a negative 20 percent impact from COVID-19 on the North America unitary HVAC and refrigeration market in fiscal 2020.