Lennox announces 2023 financial guidance and long-term targets for 2026

Dallas , dec. 14, 2022 /prnewswire/ -- lennox international inc. (nyse: lii), a leader in energy-efficient climate-control solutions, today announced 2023 financial guidance and long-term financial targets for 2026. for the full year of 2023, the company expects: core revenue growth of 0-4%, excluding the impact of the planned divestiture of the european operations gaap and adjusted eps of $14.25-$15.25 corporate expenses of approximately $80 million interest expense of $55-$60 million an effective tax rate of 19-21% on an adjusted basis capital expenditures of approximately $250 million, including investments in the new commercial manufacturing facility and investments for the upcoming refrigerant regulatory transition cash from operations of $500-$600 million and free cash flow of $250-$350 million stock repurchases of $100-$200 million a weighted average diluted share count of 35-36 million shares the company also introduced its long-term financial targets for 2026: core revenue of $5.0-$5.5 billion ebit return on sales margin of 18-20% free cash flow 90-100% of net income on average for 2023-2026 ceo alok maskara said, "for 2023, lennox expects residential unit softness to be overcome by the cumulative impact of price, mix and productivity to deliver growth in revenue, margin and eps.
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