$LII (Lennox International, Inc.)

$LII {{ '2016-04-18T13:03:24+0000' | timeago}} • Announcement

Richardson, Texas-based climate control solutions provider $LII reported higher profit in 1Q16, reiterated 2016 revenue guidance and raised 2016 EPS guidance. Net income for the quarter was $24.9MM, or $0.57 per diluted share, up 79% from $13.9MM, or $0.31 per diluted share, in the prior-year quarter. Revenue rose 4% YoverY to $715MM.

$LII {{ '2017-04-24T12:27:37+0000' | timeago}} • Announcement

$LII reiterated guidance for a weighted average diluted share count of 42-43MM shares on a full-year basis, including plans for $250MM of stock repurchases for 2017 in total. The company continues to expect another record year as it enter largest seasonal period.

$LII {{ '2017-04-24T12:24:30+0000' | timeago}} • Announcement

$LII reiterated 2017 revenue growth outlook of 3-7%, with a minimal impact from foreign exchange, and adjusted EPS estimate of $7.55-8.15. $LII lifted 2017 EPS guidance to $7.65-8.25 from $7.55-8.15. $LII reiterated forecast for corporate expenses of about $85MM, adjusted effective tax rate of about 32%, and capital expenditures of about $100MM.

$LII {{ '2017-04-24T12:19:38+0000' | timeago}} • Announcement

$LII reported a jump in 1Q17 earnings driven by higher revenue despite some weather headwind. Net income rose to $43.5MM or $1.00 per share from $24.9MM or $0.56 per share last year. Net sales grew to $793.4MM from $715.2MM. Adjusted EPS increased to $0.90 from $0.60.

$LII {{ '2016-12-14T16:11:17+0000' | timeago}} • Announcement

$LII expects 2017 revenue to grow 3-7% with a minimal impact from foreign exchange and GAAP EPS from continuing operations to be $7.55-8.15. For 2016, the company lifted the low end of GAAP EPS from continuing operations outlook from $6.25-6.45 to $6.30-6.45 and revenue is expected to grow 4-6% with neutral impact from foreign exchange.

$LII {{ '2016-10-17T14:12:53+0000' | timeago}} • Webcast

$LII expects a $45MM benefit from sourcing and engineering-led cost reductions compared to prior guidance of $40MM. For corporate expense, the company expects $95MM for 2016, compared to prior guidance of $90MM, as it continues to invest in the businesses for growth.

$LII {{ '2016-10-17T14:09:36+0000' | timeago}} • Webcast

In 4Q16, $LII expects to complete a one-time lump-sum pension buyout for certain vested participants. This action is expected to reduce the company's pension obligations by approx. $50MM.

$LII {{ '2016-10-17T14:07:47+0000' | timeago}} • Webcast

For the industry overall in 2016, $LII expects North American residential HVAC shipments to be up mid single digits. The company expects North American commercial unitary shipments to be up low single digits, and North American refrigeration shipments to be up low single digits.

$LII {{ '2016-10-17T14:03:56+0000' | timeago}} • Webcast

$LII ended 3Q16 with approx. $1.1Bil of total debt and had a debt-to-EBITDA ratio of 2.1. The company paid $19MM in dividends in the quarter and paid $100MM in conjunction with an accelerated share repurchase program being executed over the third and fourth quarters. At the end of Sept. 2016, cash and cash equivalents were $48MM.

$LII {{ '2016-10-17T14:02:10+0000' | timeago}} • Webcast

$LII's net cash from operations in 3Q16 was $148MM compared to $159MM in 3Q15. The company a $50MM use of cash for discretionary pension contributions. Capital spending was $18MM in the quarter, compared to $14MM a year ago. Free cash flow was $130MM compared to $145MM in 3Q15.

$LII {{ '2016-10-17T14:00:08+0000' | timeago}} • Webcast

In 3Q16, $LII had net after-tax charges of $200,000. This amount included a gain of $700,000 for the net change in unrealized gains on unsettled futures contracts and a $400,000 charge for restructuring activities and $500,000 of charges for other items net. Corporate expenses were $27MM in the quarter compared to $24MM last year.

$LII {{ '2016-10-17T13:53:46+0000' | timeago}} • Webcast

Refrigeration revenue was up 3% at constant currency year-to-date and $LII continues to expect revenue to be in 4Q16. For the full year 2016, the company continues to expect Refrigeration margin to be up about 200 BPs from the prior year.

$LII {{ '2016-10-17T13:49:53+0000' | timeago}} • Webcast

$LII opened up nine new Lennox PartsPlus stores in 3Q16 and has opened 16 new stores year-to-date. The company now has a total of 202 stores open and more than a quarter of Residential revenue flows through the stores. $LII is still planning a total of 213 stores by the end of 2016 and targeting 325 stores by the end of 2020.

$LII {{ '2016-10-17T13:47:13+0000' | timeago}} • Webcast

On a GAAP basis, $LII's operating income rose 24% to a record of $157MM in 3Q16 and operating margins expanded 220 BPs to a record of 15.5%. The company saw strong margin expansion and profit growth across all three of its businesses to set new 3Q highs for $LII. Total segment profit rose 20% to a 3Q record of $157MM, and segment margin was 15.6%.

$LII {{ '2016-10-17T12:48:06+0000' | timeago}} • Announcement

$LII narrowed its guidance for 2016 revenue growth from 3-7% to 4-6%, and still expects ForEx to be neutral to revenue on a full-year basis. The company updated its guidance for 2016 GAAP EPS from continuing operations from $6.45-6.85 to a range of $6.25-6.45, and adjusted EPS from continuing operations from $6.50-6.90 to a range of $6.75-6.95.

$LII {{ '2016-10-17T12:45:54+0000' | timeago}} • Announcement

$LII said 3Q16 revenue in the Residential Heating & Cooling business segment was a record $573MM, up 11% from last year. Revenue in the Commercial Heating & Cooling business segment was $251MM in 3Q16, up 2% from a year ago. Revenue in the Refrigeration segment was $186MM in the quarter, down 2% from last year.

$LII {{ '2016-10-17T12:37:44+0000' | timeago}} • Announcement

$LII posted improved earnings in 3Q16, helped by higher sales compared to 3Q15. Net income was $101.7MM or $2.33 per share compared to $80.3MM or $1.76 per share last year. Revenue was $1.01Bil, up 6% from last year. Adjusted EPS from continuing operations was up 28% to $2.33.

$LII {{ '2016-09-19T22:36:25+0000' | timeago}} • Announcement

$LII has appointed Max H. Mitchell as a member of its BoD, effective Sept. 16, 2016. Mr. Mitchell is President and CEO of $CR.

$LII {{ '2016-09-16T11:40:13+0000' | timeago}} • Announcement

$LII's BoD voted to declare a quarterly cash dividend of $0.43 per share of common stock. The dividend is payable on Oct. 14, 2016, to stockholders of record as of Sept. 30, 2016.

$LII {{ '2016-07-18T14:38:14+0000' | timeago}} • Webcast

$LII expects 3Q16 tax rate to be approx. 32% and 4Q16 tax rate to be approx. 34%. Looking beyond 2016 to future years, $LII expects approx. 32% effective tax rate. The free cash flow target will be $200MM for 2016. FX is expected to be a $10MM headwind for the year. $LII expects a $45MM benefit from commodities and price combined.

$LII {{ '2016-07-18T14:29:33+0000' | timeago}} • Webcast

In 2016, for the overall industry, $LII expects North American residential HVAC shipments to be up mid single digits, North American commercial unitary shipments to be up low single digits and North American refrigeration shipments to be up low single digits.

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