Loading...
•
Dec 31, 2021
Modine Q3 2022 Earnings Report
Modine demonstrated stronger sequential performance, driven by revenue growth across major end markets and improved margins.
Key Takeaways
Modine Manufacturing Company reported a 4% increase in net sales to $502.2 million compared to the prior year. Operating income was $79.4 million, a significant increase from the prior year's operating loss, primarily due to impairment charge reversals. Earnings per share was $1.41, and adjusted earnings per share was $0.31.
Net sales increased 4 percent from the prior year to $502.2 million.
Operating income increased $188.1 million from the prior year to $79.4 million.
Earnings per share was $1.41 and adjusted earnings per share was $0.31.
Adjusted EBITDA decreased $7.4 million from the prior year to $39.3 million.
Revenue by Segment
Forward Guidance
Modine reaffirmed its outlook for fiscal year 2022, anticipating sales to be up 10 to 16 percent and adjusted EBITDA to be between $145 million and $160 million.
Positive Outlook
- Full fiscal year-over-year sales up 10 to 16 percent
- Adjusted EBITDA of $145 million to $160 million
Challenges Ahead
- Challenging supply chain environment has not abated
- Inflationary pressures
- Need for further commercial actions
- Broader restructuring initiatives to reduce costs
- Supply chain challenges around the globe
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
Loading earnings performance data...
Loading earnings reaction data...