Modine Manufacturing (MOD) Tops Q2 EPS by 20c

Modine Manufacturing (NYSE: MOD) reported Q2 EPS of $0.32, $0.20 better than the analyst estimate of $0.12. Revenue for the quarter came in at $541 million versus the consensus estimate of $493.85 million.

Outlook:

"We expect our end markets to remain robust and supported by strong secular tailwinds despite the uncertainty created by geopolitical and economic risks," said Brinker. "Our results this quarter demonstrate the resiliency of our operations and are clearly benefiting from the actions taken to simplify our business, focus the organization and improve profitability. These efforts are supporting our strategic transformation, and we expect further progress against our targeted initiatives, which will support a strong fiscal 2023 and beyond."

Based on current exchange rates and market outlook, Modine is reiterating its outlook for fiscal 2023:

• Full fiscal year-over-year sales up 6 to 12 percent;
• Adjusted EBITDA of $180 million to $195 million.

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

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