In the wake of Q4 earnings from both companies, Antrim has decided to discontinue ongoing research coverage of AOS and LII. Please use the following link to access our report.
Please use the following link to access our most up to date diligence on ideas in Antrim's coverage universe. We've held dozens of calls with plumbing and HVAC distributors, former employees of companies under our coverage, and general contractors to try to get a read on demand trends ahead of Q2 earnings season. Our thoughts on MLI, AOS, LII, SAIA, and CMI are included, along with some broad thematic takeaways.
Please use the following link to access updates on our coverage following Q1 earnings season, including our updated thoughts on SAIA, AOS, MLI, LII, TSCO, and CMI, as well as our rationale for passing on POOL after conducting a number of diligence calls on the name.
Please use the following link to access our thoughts on LII's Q4 EPS and FY'23 guidance:
Please use the following link to access Antrim's full initiation report on Lennox International (NYSE:LII - $245.18), in which we express our concern that the residential HVAC industry has pulled forward replacement unit demand as a result of the coronavirus pandemic.
