Lennox (LII) Offers FY21 and FY22 Guidance

Lennox International Inc. (NYSE: LII), a global leader in energy-efficient climate-control solutions, today announced 2022 financial guidance and is reiterating 2021 financial guidance.

For the full year of 2022, the company expects:

• Revenue growth of 5-10%
• GAAP and adjusted EPS from continuing operations of $13.40-$14.40
• Corporate expenses of approximately $95 million
• An effective tax rate of approximately 20% on an adjusted basis for the full year
• Capital expenditures of approximately $125 million
• Free cash flow of approximately $400 million
• Stock repurchases of $400 million

For the full year of 2021, the company still expects:

• Revenue growth of 13-15%, including a 1% benefit from favorable foreign exchange
• GAAP EPS from continuing operations of $11.97-$12.17
• Adjusted EPS from continuing operations of $12.10-$12.30
• Corporate expenses of approximately $95 million
• An effective tax rate of approximately 20% on an adjusted basis for the full year
• Capital expenditures of approximately $135 million
• Free cash flow of approximately $400 million
• Stock repurchases of $600 million

(Consensus sees FY21 EPS of $12.27 on revenue of $4.14 billion and FY22 EPS of $13.87 on revenue of $4.34 billion)

As previously announced, Lennox International is hosting a virtual investment community meeting today, starting at 9:00 a.m. Central time. The company will discuss strategic, operational and financial information, including the company's outlook for 2022 and beyond. The presentation will be webcast and presentation materials will be accessible on the company's website at www.lennoxinternational.com.

Lennox International Inc. is a global leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our air conditioning, heating, indoor air quality, and refrigeration systems. Lennox International stock is listed on the New York Stock Exchange and traded under the symbol "LII". Additional information on Lennox International is available at www.lennoxinternational.com or by contacting Steve Harrison, Vice President, Investor Relations, at 972-497-6670

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