Lennox Q2 Earnings, Revenue Beat Estimates; Annual Outlook Above Street View

(RTTNews) - Lennox International Inc. (LII) Thursday posted higher profit in the second quarter, helped by growth in revenue. The company's earnings as well as revenue came in above analysts' view. It also raised full-year outlook, above consensus estimates.

Lennox makes a range of products for the heating, ventilation, air conditioning, and refrigeration markets.

Profit was $217.2 million, or $6.10 per share for the second quarter, higher than $177.2 million, or $4.96 per share, in the prior year quarter.

Excluding one-time items, earnings were $218.8 million, or $6.15 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $5.19 per share. Analysts' estimates usually exclude special items.

Quarterly sales increased to $1.411 billion from $1.366 billion last year. The consensus estimate was for $1.37 billion.

Core revenue excluding European operations was $1.34 billion, up 3%.

For the full year, the company now sees EPS in the range of $15.50 - $16.00, up from the previous range of $14.25 - $15.25.

Core revenue for the year is expected to increase between 2% - 4% compared with flat to 4% up

Analysts expect the company to report earnings of $15.38 billion on revenue growth of 0.70% for the year.