Heating, ventilation, and air conditioning, or HVAC, company Lennox International is always an interesting one to follow because its results give a
good perspective on a market that is very important for so many other
companies. For example, companies like Ingersoll-Rand and Johnson Controls
have significant HVAC operations. The sector as a whole is also a
useful barometer for the condition of the North American construction
markets.
Lennox International gives mixed results
The market took a dim view of Lennox's recent results and immediately marked its stock down a few percentage points. It's a slightly harsh verdict on the earnings report since revenue came in slightly better than analyst forecasts. Moreover, the company maintained its full-year forecast of 3%-7% revenue growth at constant currency, and adjusted EPS of $4.20-$4.40; the mid-point of this range implies nearly 19% growth from 2013.
The market took a dim view of Lennox's recent results and immediately marked its stock down a few percentage points. It's a slightly harsh verdict on the earnings report since revenue came in slightly better than analyst forecasts. Moreover, the company maintained its full-year forecast of 3%-7% revenue growth at constant currency, and adjusted EPS of $4.20-$4.40; the mid-point of this range implies nearly 19% growth from 2013.
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