Modine Manufacturing (MOD) Tops Q3 EPS by 7c

Modine Manufacturing (NYSE: MOD) reported Q3 EPS of $0.31, $0.07 better than the analyst estimate of $0.24. Revenue for the quarter came in at $502.2 million versus the consensus estimate of $493.45 million.

Outlook:

"Overall, demand remains strong across most of our end markets, but the challenging supply chain environment has not abated," said Brinker. "We will remain diligent in addressing inflationary pressures with further commercial actions as well as broader restructuring initiatives to reduce costs. Similarly, we are aggressively addressing supply chain challenges around the globe to strengthen our customer and supplier relationships. The plans we are implementing today will provide benefits in our fourth fiscal quarter and beyond."

Based on current exchange rates and market outlook, Modine reaffirmed its outlook for fiscal 2022:

• Full fiscal year-over-year sales up 10 to 16 percent;
• Adjusted EBITDA of $145 million to $160 million.

For earnings history and earnings-related data on Modine Manufacturing (MOD) click here.

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• Bernstein SocGen Group Reiterates Outperform Rating on Hermes International (RMS:FP) (HESAY) after cautious commentary
• DA Davidson Reiterates Buy Rating on Modine Manufacturing (MOD) - 'Bullish on Several Fronts'