UPDATE: Lennox Reports 19% Decline In Q3 Profit

Lennox International Inc LII reported a 19% drop in its Q3 profit. For the year, Lennox International now projects adjusted earnings of $2 to $2.15 per share, versus its July forecast of $2 to $2.30 per share. Lennox reported its quarterly profit at $33.8 million, or $0.64 per share, down from $41.8 million, or $0.76 per share, in the year-ago period. Excluding certain items, Lennox International's earnings from continuing operations came in at $0.80 per share. Its net sales surged 13% to $923 million. However, analysts were expecting earnings of $0.77 per share on revenue of $889.8 million. Lennox International shares closed at $29.45 yesterday.