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News Breaks | | | | September 21, 2012 | | 11:51 EDT |  | LII | Lennox to divest Service Experts Business
Lennox announced plans to divest its Service Experts business, which consists of dealer-contractors providing heating and cooling equipment installation and service primarily to the residential market. The company will retain the commercial service business called Lennox National Account Services that was reported within its Service Experts business segment. Revenue for the Service Experts business segment was $529M in 2011, $80M of which was from the NAS business. The company expects to report the non-NAS Service Experts business in discontinued operations beginning with the third quarter of 2012. NAS will be reported under the company's Commercial Heating & Cooling business segment. The company will provide current and historical financial results adjusted for discontinued operations and the move of NAS to the Commercial segment at the time of the third quarter earnings release on October 22. | |
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| May 15, 2013 | | 15:31 EDT | | LII | Lennox boosts dividend 20% to 24c per share
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