Lennox International narrows 2009 profit guidance

Heating and refrigeration company Lennox International narrows 2009 profit, revenue guidance

• On 12:03 pm EDT, Wednesday October 21, 2009

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 $3.48 billion.

Lennox shares lost 2 cents to $36.43 in midday trading.