Lennox Reports Solid 1Q Results; Foreign Refrigeration Divestiture Should Improve Margins
Lennox International reported solid first-quarter results, in our view, despite a slow start in air-conditioning due to unseasonably cool weather. The narrow-moat manufacturer of heating, ventilation, air-conditioning, and refrigeration products reported first-quarter sales of $835 million (versus $806 million consensus), up approximately 5% versus the year-ago quarter. Lennox’s adjusted segment operating margin expanded 50 basis points year over year, to 8.8%, and adjusted EPS increased 33% to ...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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