Lennox Discloses Financial Impact of Tornado-Damaged Manufacturing Facility; Lowers 2018 Guidance
Narrow-moat rated Lennox International issued a press release after market close on Aug. 20 that detailed the financial impact a July 19 tornado had on the firm's Marshalltown, Iowa, residential heating and cooling manufacturing plant. The plant represents approximately 25% of Lennox's residential production capacity. The company estimates that disrupted manufacturing operations will cause the residential segment to lose approximately $100 million in revenue and $55 million in profits during the...Lennox International provides climate control solutions. The company designs, manufactures and markets products for the heating, ventilation, air conditioning and refrigeration markets. The company's segments are: Residential Heating and Cooling, which manufactures and markets furnaces, air conditioners, heat pumps, packaged heating and cooling systems, equipment and accessories, comfort control products, and replacement parts and supplies; Commercial Heating and Cooling, which manufactures and sells unitary heating and cooling equipment; and Refrigeration, which manufactures and markets equipment for the global commercial refrigeration markets under the Heatcraft Worldwide Refrigeration name.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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