KFDA - NewsChannel 10 / Amarillo News, Weather, SportsLennox International narrows 2009 profit guidance
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DALLAS (AP) - Heating and refrigeration company Lennox International Inc. on Wednesday lowered the high end of its 2009 earnings guidance, saying it expects to earn between $1.65 and $1.70 per share during the year.
That's a drop from the company's previously issued range of $1.65 to $1.80, but in line with the expectations of analysts polled by Thomson Reuters who are looking for per-share earnings of $1.66.
Lennox also narrowed its 2009 revenue guidance from between a 17 percent to 19 percent drop, saying it now expects a 19 percent drop. That includes a negative 2 point impact from foreign exchange, the company said.
Analysts expect the Texas-based company to bring in $2.82 billion in revenue in 2009, down 19 percent from 2008 revenue of $3.48billion.
Lennox shares lost 2 cents to $36.43 in midday trading.
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