The Cincinnati refrigeration industry is booming
The Cincinnati-based refrigeration and air-conditioning company CVRH has seen record growth and is on pace to overtake its predecessor as the nation’s No. 1 company by 2019.
CVRS Chief Executive Officer Mark Kowalski said Thursday that CVRs overall sales grew 5.7% in the quarter ended Dec. 31, up from 5.3% in Q4 2016.
That was the biggest increase of any of the company’s categories, he said.
CVAH has been on an upturn since Kowalewski took over as CEO in July.
Sales grew 7.3%, driven largely by growth in the refrigeration business, he noted.
CVIH also reported a solid quarterly profit of $6 million, with net income of $5.2 million.
CVEH is up 5.6% in 2017 and CVRO has a 5.9% increase in sales and profits.
The company’s stock price has been steadily climbing since Kowealski took over in July, rising more than 30% in just one year.
The shares have surged about 70% since then.
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