DALLAS, Dec. 15, 2021 /PRNewswire/ -- Lennox
International Inc. (NYSE: LII), a global leader in energy-efficient
climate-control solutions, today announced 2022 financial guidance
and is reiterating 2021 financial guidance.
For the full year of 2022, the company expects:
- Revenue growth of 5-10%
- GAAP and adjusted EPS from continuing operations of
$13.40-$14.40
- Corporate expenses of approximately $95
million
- An effective tax rate of approximately 20% on an adjusted basis
for the full year
- Capital expenditures of approximately $125 million
- Free cash flow of approximately $400
million
- Stock repurchases of $400
million
For the full year of 2021, the company still expects:
- Revenue growth of 13-15%, including a 1% benefit from favorable
foreign exchange
- GAAP EPS from continuing operations of $11.97-$12.17
- Adjusted EPS from continuing operations of $12.10-$12.30
- Corporate expenses of approximately $95
million
- An effective tax rate of approximately 20% on an adjusted basis
for the full year
- Capital expenditures of approximately $135 million
- Free cash flow of approximately $400
million
- Stock repurchases of $600
million
As previously announced, Lennox International is hosting a
virtual investment community meeting today, starting at
9:00 a.m. Central time. The company
will discuss strategic, operational and financial information,
including the company's outlook for 2022 and beyond. The
presentation will be webcast and presentation materials will be
accessible on the company's website at
www.lennoxinternational.com.
Lennox International Inc. is a global leader in energy-efficient
climate-control solutions. Dedicated to sustainability and creating
comfortable and healthier environments for our residential and
commercial customers while reducing their carbon footprint, we lead
the field in innovation with our air conditioning, heating, indoor
air quality, and refrigeration systems. Lennox International stock
is listed on the New York Stock Exchange and traded under the
symbol "LII". Additional information on Lennox International is
available at www.lennoxinternational.com or by contacting
Steve Harrison, Vice President,
Investor Relations, at 972-497-6670
FORWARD-LOOKING STATEMENTS
The statements in this news
release that are not historical statements, including statements
regarding the 2021 and 2022 full-year outlooks and expected
consolidated and segment financial results for 2021 and 2022, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on information currently available as well as
management's assumptions and beliefs today. These statements are
subject to numerous risks and uncertainties that could cause actual
results to differ materially from the results expressed or implied
by the statements, and investors should not place undue reliance on
them. Risks and uncertainties that could cause actual results to
differ materially from such statements include risks that the North
American unitary HVAC and refrigeration markets perform worse than
current assumptions. Additional risks include, but are not limited
to: the impact of higher raw material prices, availability and
timely delivery of raw materials and other components, the impact
of new or increased trade tariffs, LII's ability to implement price
increases for its products and services, economic conditions in our
markets, regulatory changes, the impact of unfavorable weather, a
decline in new construction activity and related demand for
products and services, and any resurgence of the COVID-19 pandemic
and its economic impact on the company and its employees and
customers. For information concerning these and other risks and
uncertainties, see LII's publicly available filings with the
Securities and Exchange Commission. LII disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
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SOURCE Lennox International Inc.