RACINE, Wis., May 8, 2024 /PRNewswire/ -- Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, announced today that it will host a conference call and webcast to discuss its fourth quarter and fiscal year 2024 financial results for the period ended March 31, 2024, on Wednesday, May 22, 2024, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Results are scheduled to be released after the market closes on Tuesday, May 21, 2024.During the call, Modine President an ...

The new site in Bradford, West Yorkshire, will produce precision cooling equipment under the Airedale by Modine™ brand and comes on the heels of expansion in Calgary, Canada, and Allen, Texas. RACINE, Wis., May 7, 2024 /PRNewswire/ -- Modine (NYSE: MOD), a diversified leader in thermal management technologies and solutions, announced the purchase of a 14.6 acre manufacturing site in Bradford, UK, to support increased production of Airedale by Modine™ precision cooling equipment used in the data center indus ...

In the latest market close, Modine (MOD) reached $92.28, with a -0.38% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.23%, and the technology-centric Nasdaq decreased by 0.33%.Shares of the heating and cooling products maker have depreciated by 0.66% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 5.08% and the S&P 500's loss of 4.05%.The investment communit ...

In the latest trading session, Modine (MOD) closed at $95.54, marking a -1.24% move from the previous day. This change lagged the S&P 500's daily gain of 0.32%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.35%.The the stock of heating and cooling products maker has risen by 1.63% in the past month, leading the Auto-Tires-Trucks sector's loss of 7.23% and the S&P 500's loss of 2%.The upcoming earnings release of Modine will be of great interest to investors. In that report, an ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the st ...

Investors interested in Automotive - Original Equipment stocks are likely familiar with Modine (MOD) and Ferrari (RACE) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estima ...

Additional facility in Serbia will manufacture coils for commercial and residential heat pump applications. RACINE, Wis., April 23, 2024 /PRNewswire/ -- Modine (NYSE: MOD), a diversified leader in thermal management technologies and solutions, officially marked the opening of a second facility in Sremska, Serbia, to manufacture coils for commercial and residential heat pump applications. Serbian Prime Minister-designate Milos Vučević and U.S. Ambassador to Serbia Christopher Hill were among the dignitaries ...

Modine (MOD) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this heating and cooling products maker have returned -13.5%, compared to the Zacks S&P 500 composite's -1.7% change. During this period, the Zacks Automotive - Original Equipment industry, which Modine falls in, has lost 1.9%. The key question now is: What could be the stock's future dir ...

Adjusted EBITDA & Q3 FY23 Q3 FY24 EBITDA Margin* $73.9 9.5% 13.2% ▪ Strong conversion of 530 bps gross margin improvement, driven by higher average selling prices and ongoing 80/20 initiatives * See appendix for the full GAAP income statement and Non-GAAP reconciliations Cash Flow and Metrics Capital Expenditures $44 million ▪ Leverage ratio improved from 0.8x to 0.7x during the quarter * See appendix for the full GAAP income statement and Non-GAAP reconciliations Raising Adjusted EBITDA Outlook ▪ Expect Da ...

Financial Data and Key Metrics Changes - The company reported a 6% increase in total sales driven by the Scott Springfield acquisition and organic growth in Climate Solutions [25] - Adjusted EBITDA increased by 23% or $19 million, with an adjusted EBITDA margin of 15.2%, representing a 210 basis point improvement from the prior year [28] - Free cash flow for the second quarter was $44 million, improving from the first quarter, with year-to-date free cash flow at $58 million [29] Business Line Data and Key Metrics Changes - Climate Solutions segment revenues more than doubled compared to the prior year, with data center sales growing 102% or $80 million [21][10] - Performance Technologies revenue decreased due to prior year automotive divestitures and lower sales to automotive and commercial vehicle customers, with organic sales down 5% [23] - Advanced Solutions sales increased by 18% or $6 million, driven by increased sales of EV systems [23] Market Data and Key Metrics Changes - The company is experiencing strong demand from North American hyperscale and colocation customers, leading to a significant increase in data center sales [21] - The performance technology segment is facing challenges due to softness in the agricultural, construction, and commercial vehicle markets [24] Company Strategy and Development Direction - The company highlighted five strategic pillars aimed at driving growth and margin expansion, including leveraging thermal management technology and focusing on mega-trends like high-performance computing [3][4][5] - A new three-year financial target was introduced, expecting compound annual revenue growth of 10% to 13% and adjusted EBITDA margins of 16% to 18% by fiscal 2027 [9] - The company plans to expand its data center product capacity in India to support growth in Asia and the Middle East [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance of the Climate Solutions segment and anticipates continued positive momentum for revenue and earnings [43] - The company expects Q3 to be sequentially lower than Q2 due to normal seasonal trends, but anticipates a ramp-up in Q4 driven by specific markets and product launches [33] - Management remains focused on implementing the 80/20 discipline to mitigate challenges in certain markets while capitalizing on growth opportunities [28] Other Important Information - The company completed its UK expansion ahead of schedule and is now operational in Calgary, supporting data center product growth [14] - The company has signed a master sales agreement with a third hyperscaler and expects to see orders in the coming quarters [83] Q&A Session Summary Question: Opportunities in hyperscale data center business - Management indicated that the market pricing for a chiller of about 1.5 megawatt is around $0.5 million USD [40] Question: CapEx associated with the new facility in India - Management confirmed that the expansion in India is part of their strategic plan and will add incremental capacity beyond previous statements [45] Question: Contribution from Scott Springfield - Management noted that the Scott Springfield acquisition has exceeded expectations and is contributing positively to revenue [57] Question: Advanced Solutions business outlook - Management acknowledged a slight downward revision for Advanced Solutions revenue outlook due to evolving market dynamics [62] Question: Capacity constraints in data center products - Management confirmed that they are not currently capacity constrained and can meet the demand from new hyperscaler customers [83]