Lennox International Reduces 2009 Guidance

DALLAS (AP) — Heating and refrigeration company Lennox International Inc. cuts its 2009 revenue and profit guidance on Wednesday after reporting a first-quarter loss of $18.1 million.

The company said it now expects 2009 revenue to fall 15 percent to 19 percent, instead of its previous expectation of a drop of 8 percent to 12 percent.

It said it now expects a 2009 profit of $1.38 to $1.78 per share, down from a previous expectation of $1.91 to $2.31. Earnings from continuing operations are now expected to be $1.65 to $2.05 per share, down from $2.10 to $2.50.

Analysts surveyed by Thomson Reuters were expecting a 2009 profit of $2.06 per share on revenue of $3.05 billion.

Lennox shares rose $1.59, or 5.5 percent, to $30.47 in morning trading.