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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.
Modine
Modine
Modine Revenue by Segment
Revenue by Segment
Climate Solutions Revenue
CapyFin.comPerformance Technologies Revenue
CapyFin.com 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