Lennox Int'l Narrows FY21 Outlook Range; Q3 Results Miss Estimates - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Monday, Lennox International Inc. (LII) narrowed its earnings and revenue growth guidance for the full-year 2021.

For fiscal 2021, the company now projects earnings from continuing operations in a range of $11.97 to $12.17 per share and adjusted earnings from continuing operations in a range of $12.10 to $12.30 per share on revenue growth of 13 to 15 percent.

Previously, the company expected earnings from continuing operations in a range of $11.97 to $12.57 per share and adjusted earnings from continuing operations in a range of $12.10 to $12.70 per share on revenue growth of 12 to 16 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.87 per share on a revenue growth of 15.5 percent to $4.28 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, income from continuing operations for the third quarter edged down to $126.3 million or $3.41 per share from $131.7 million or $3.42 per share in the prior-year quarter.

Excluding items, adjusted income from continuing operations for the quarter was $3.40 per share, compared to $3.53 per share in the year-ago quarter.

Net sales for the quarter remained relatively flat at $1.06 billion.

The street was looking for earnings of $3.64 per share on net sales of $1.13 billion for the quarter.