Lennox Raises 2018 Guidance After Reporting Strong 2Q Results: FVE to $172
Narrow-moat-rated Lennox International's second-quarter results benefited from robust demand for the firm's residential and commercial heating, ventilation, and air conditioning products. Adjusted revenue, which excludes approximately $17 million from the noncore refrigeration businesses in Australia, Asia, and South America, grew 9% year over year to approximately $1.16 billion, beating the consensus estimate by about $25 million. Adjusted earnings per share increased 30% year over year to $3.6...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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