- Lennox posted better-than-expected revenue in the second quarter, with strong ongoing growth in the residential business, but some disappointments in commercial and refrigeration margins.
- Management is trying to make a case for a longer, stronger residential HVAC cycle, including contributions from shorter equipment lives driven by increased use from work-at-home trends.
- It's possible to argue for some upside on the basis of EV/EBITDA, but Lennox shares don't look fundamentally cheap to me.
For further details see:
Lennox Pushing A Stronger-For-Longer Case In Residential HVAC