Lennox Will Shed its Underperforming Kysor Warren Refrigeration Business In Early 2019
Narrow-moat-rated Lennox International reported solid fourth-quarter results despite still contending with the after effects of a July 19 tornado that damaged a residential heating and cooling manufacturing plant. While reported revenue declined over 5% year over year to $844 million, which missed Wall Street's expectations by about $12 million, this decline was due to the divestiture of Lennox's Australian, Asian, and South American refrigeration businesses earlier in the year, and the tornado-...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.
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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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