Lennox raises FY16 adjusted EPS view to $6.75-$6.95 from $6.50-$6.90
Consensus is for FY16 EPS $6.78. Narrows FY16 guidance for revenue growth from 3-7% to 4-6%. The company still expects foreign exchange to be neutral to revenue on a full-year basis. Updating guidance for 2016 GAAP EPS from continuing operations from $6.45-$6.85 to a range of $6.25-$6.45, including special items to-date and the approximate $20M after-tax pension charge expected in the Q4 as a result of the one-time, lump-sum pension buyout program to certain vested participants. Company reiterates effective tax rate guidance of approximately 31% on a full-year basis for 2016 and 32% for future years. Reiterates fully diluted share count guidance of approximately 44M shares on a full-year basis and reiterates FY16 capital expenditure guidance of approximately $95M.