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Jun 30, 2022
Modine Q1 2023 Earnings Report
Modine generated strong revenue and earnings growth, led by the Climate Solutions segment, while combating supply-chain-related headwinds in the Performance Technologies segment.
Key Takeaways
Modine Manufacturing Company reported a 9 percent increase in net sales to $541.0 million, with operating income increasing by $16.9 million to $25.6 million. Earnings per share rose to $0.27, and adjusted earnings per share reached $0.32. The Climate Solutions segment led revenue and earnings growth.
Net sales increased 9 percent to $541.0 million compared to the prior year.
Operating income increased $16.9 million from the prior year, reaching $25.6 million.
Earnings per share was $0.27, compared to $0.04 in the prior year
Adjusted earnings per share was $0.32, compared to $0.20 in the prior year.
Modine
Modine
Modine Revenue by Segment
Revenue by Segment
Climate Solutions Revenue
CapyFin.comPerformance Technologies Revenue
CapyFin.com Forward Guidance
Modine is reiterating its outlook for fiscal 2023 with full fiscal year-over-year sales expected to be up 6 to 12 percent and adjusted EBITDA of $180 million to $195 million.
Positive Outlook
- End markets expected to remain robust.
- Operations benefiting from actions to simplify business
- Operations benefiting from actions to focus the organization
- Operations benefiting from actions to improve profitability
- Strategic transformation is supporting strong fiscal 2023
Challenges Ahead
- Uncertainty created by geopolitical risks
- Uncertainty created by economic risks
Revenue & Expenses
Visualization of income flow from segment revenue to net income