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Lennox International (LII) Issues Earnings, Revenue Forecast For 2013

 December 12, 2012 08:04 AM
 


(By Balachander) Lennox International Inc. (NYSE: LII), a provider of climate control services, issued its earnings and revenue forecast for 2013 and the company backed its outlook for the current year.

The company expects adjusted and GAAP earnings per share from continuing operations between $3.15 and $3.55 for 2013 on revenue growth of 2 percent to 6 percent.

Wall Street analysts, on average, expect earnings of $3.32 per share on revenue of $3.12 billion.

In addition, Lennox expects to buyback shares worth $100 million next year.

For 2012, the company continues to expect adjusted earnings per share from continuing operations of $2.60 to $2.80, while Wall Street analysts project $2.74 a share. It forecasts earnings per share of between $2.55 and $2.75 on a GAAP basis.

[Related -Dividend Roundup: AHT, IDCC, LHO, LII, PEB, SWY, TYC]

Lennox also reiterated its revenue growth guidance of 4 percent to 6 percent for the full year 2012.

The company reduced its 2012 capital expenditures forecast to roughly $50 million from prior view of $55 million. It sees capital expenditures of around $60 million for 2013.

Lennox is engaged in the design of climate control products for the heating, ventilation, air conditioning, and refrigeration markets.

The stock, which has been trading in the 52-week range of $31.96 to $53.52, closed Tuesday's regular trade at $50.99.

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