The company now projects full-year revenue growth of 6%, a reduction from its previous 8% forecast, with roughly 5% of that growth tied to recent acquisitions. Adjusted earnings per share guidance was similarly cut to a range of $21.00 to $21.50, significantly lower than the prior estimate of $23.00 to $24.00. In the third quarter, adjusted earnings fell 7% to $6.84 per share, missing the $7.36 consensus estimate from FactSet analysts.
In section Market Quotes
Lennox International Trims Outlook as Residential Demand Softens
Lennox International shares slid 6% in Wednesday pre-market trading after the HVAC manufacturer lowered its full-year guidance. The company cited persistent inflationary pressures and cooling demand in the residential sector, forcing a downward revision of both revenue and earnings expectations for the remainder of the fiscal year.
Chief Executive Alok Maskara pointed to a $45 million headwind driven by product and fuel cost inflation, alongside intensified competitive pressure. While the building climate solutions division posted a strong 24% revenue gain, the residential home comfort segment struggled with stagnant new housing construction and compressed margins. To stabilize profitability, Lennox is currently restructuring internal processes and implementing targeted price hikes across specific markets.
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