- Lennox (NYSE:LII) reports revenue declined 2% on constant currency basis in Q4.
- Residential Heating & Cooling segment revenue flat at $477M.
- Commercial Heating & Cooling segment revenue increased 3% to $250M.
- Refrigeration segment revenue squeezed 7% to $165M.
- Gross margin rate slipped 70 bps to 29.1% due to lower volume and factory absorption, unfavorable mix, higher commodity costs, the timing of other product costs, and investments in distribution.
- Residential Heating & Cooling operating margin rate dropped 120 bps to 16%.
- Commercial Heating and Cooling operating margin rate advanced 150 bps to 17.4%.
- Refrigeration operating margin rate up 140 bps to 10.2%.
- FY2018 Guidance: Revenue: +3% to +7%; GAAP EPS: $9.75 to $10.35; Adjusted EPS: $9.75 to $10.35; Tax rate: 22% to 24%; Share count: ~42M to 43M; Capex: ~$100M; Stock repurchases:
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