Lennox Reiterates FY21 Outlook; Sees 5-10% Revenue Growth In FY22

Lennox International Inc. LII introduced its FY22 financial guidance and reiterated its FY21 outlook.
For FY22, the company expects revenue growth of 5-10%, GAAP, and adjusted EPS from continuing operations of $13.40-$14.40 (consensus of $13.87).
It expects FY22 corporate expenses of ~$95 million, capital expenditures of ~$125 million, free cash flow of ~$400 million, and stock repurchases of $400 million.
FY21 Outlook: Lennox reaffirmed revenue growth of 13-15%, GAAP EPS from continuing operations of $11.97-$12.17, and Adjusted EPS from continuing operations of $12.10-$12.30 (consensus $12.27).
It expects corporate expenses of ~$95 million, capital expenditures of $135 million, free cash flow of ~$400 million, and stock repurchases of $600 million.
Price Action: LII shares are trading lower by 0.51% at $322.44 on the last check Wednesday.

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