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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