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Dec 31, 2022
Modine Q3 2023 Earnings Report
Modine's financial performance improved, driven by strategic actions and margin improvements.
Key Takeaways
Modine Manufacturing Company reported a 12% increase in net sales to $560.0 million, with operating income at $39.5 million. Adjusted earnings per share increased to $0.48, and the company confirmed its fiscal year 2023 earnings outlook.
Net sales increased by 12% year-over-year to $560.0 million.
Operating income was $39.5 million, a decrease from the prior year due to a significant impairment reversal recorded in the prior year.
Adjusted EBITDA increased by 36% year-over-year to $53.3 million.
Earnings per share were $0.46, with adjusted earnings per share at $0.48.
Revenue by Segment
Forward Guidance
Modine confirmed its outlook for fiscal 2023, expecting net sales to increase by 6% to 12% and adjusted EBITDA to be between $190 million and $200 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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