Lennox stock up, revenues climb in 2013
While it is undetermined what it will mean locally, Lennox International had a stellar year in 2013, according to its revenue gains and stock price.
The heating, air conditioning and refrigeration company with a plant in Marshalltown saw its stock go up more than 60 percent in 2013, according to the Associated Press. It was trading at $84.90 on Friday.
Lennox also expects its 2013 revenue to be more than $3.16 billion, up from a $2.95 billion figure in 2012.
The website DailyFinance.com reports housing starts have been up in the nation, which is typically good news for companies like Lennox.
Marshalltown was the original location of the Lennox Furnace Company in 1904.
Lennox announced last July that it plans to add a heating production line in Mexico in the next two years. Lennox spokesperson John Hurst said at the time if the economy improves jobs lost in Marshalltown would be “negligible” due to the new Mexico facility.
Jobs would be lost if business doesn’t expand, Hurst said last summer. Hurst did not return a call Friday for comment on the stock rise.