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Jun 30, 2023
Modine Q1 2024 Earnings Report
Modine had a record quarter and raised full-year earnings guidance.
Key Takeaways
Modine reported strong Q1 results driven by benefits from 80/20 actions, leading to an upward revision to the full-year earnings outlook. Net sales increased by 15% and operating income increased by 160% compared to the prior year. The company's performance exceeded expectations, with both segments driving strong growth and operational improvements.
Net sales increased 15 percent from the prior year
Operating income increased $40.9 million, or 160 percent, from the prior year
Earnings per share of $0.85 compared to $0.27 in the prior year
Adjusted earnings per share of $0.85 compared to $0.32 in the prior year
Revenue by Segment
Forward Guidance
Modine provided its revised outlook for fiscal 2024 with net sales expected to increase by 6% to 11% and Adjusted EBITDA of $280 to $295 million.
Positive Outlook
- Net Sales +6% to 11%
- Adjusted EBITDA $280 to $295 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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