Lennox Issues 2017 Guidance; Raises Low End Of 2016 Adj. EPS Outlook

(RTTNews) - Lennox International Inc. (LII) announced, for 2017, the company expects: GAAP and adjusted EPS from continuing operations of $7.55-$8.15; and revenue growth of 3-7%, with a minimal impact from foreign exchange. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.72 for fiscal 2017. Analysts' estimates typically exclude special items.

For 2016, Lennox raised the low end of 2016 guidance for adjusted EPS from continuing operations to $6.80-$6.95 from $6.75-$6.95. The company also increased the low end of 2016 guidance for GAAP EPS from continuing operations to $6.30-$6.45 from $6.25-$6.45. Lennox reiterated guidance for 2016 revenue growth of 4-6%, with a neutral impact from foreign exchange.

Lennox also announced the completion of the company's previously announced $100 million stock repurchase program in the fourth quarter, bringing the total for 2016 to $300 million.