8-K
filed May 24, 2023, 7:59 PM ET
ticker MOD
CIK 0000067347
earnings
confidence high
sentiment positive
materiality 0.75
Modine reports record FY2023 sales of $2.3B, adjusted EBITDA up 34%; guides FY2024 EBITDA $240-260M
MODINE MANUFACTURING CO
2023-FY EPS reported
$2.90
revenue$2,297,900,000
- Q4 net sales $618.1M (+8% YoY), adjusted EBITDA $65.5M (+16%), adjusted EPS $0.67 (+18%).
- Full year net sales $2.3B (+12%), adjusted EBITDA $212.1M (+34%), adjusted EPS $1.95 (+59%).
- FY2024 guidance: net sales +4-10%, adjusted EBITDA $240-260M (13-23% growth).
- Climate Solutions adj. EBITDA $41.8M (+8%); Performance Tech adj. EBITDA $33.3M (+51%).
- Net debt decreased $47M to $285.6M; free cash flow $56.8M, up $85.6M from prior year.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MODINE MANUFACTURING CO reported the fourth quarter ended March 31, 2023 results: revenue $618.1 million, EPS $1.69.
- Period
- the fourth quarter ended March 31, 2023
- Revenue
- $618.1 million
- EPS
- $1.69
- Result
- reported results
Exact text from the filing
Fourth Quarter Highlights: • Net sales of $618.1 million increased 8 percent from the prior year • Operating income of $48.5 million increased $27.9 million, or 135 percent, from the prior year, due in part to a significant restructuring charge recorded in the prior year • Adjusted EBITDA of $65.5 million increased $8.8 million, or 16 percent, from the prior year • Earnings per share of $1.69 compared to $0.16 in the prior year, and adjusted earnings per share of $0.67 increased $0.10, or 18 percent, from the prior year
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MODINE MANUFACTURING CO reported the fiscal year ended March 31, 2023 results: revenue $2.3 billion, EPS $2.90.
- Period
- the fiscal year ended March 31, 2023
- Revenue
- $2.3 billion
- EPS
- $2.90
- Result
- reported results
Exact text from the filing
Full Year Highlights: • Net sales of $2.3 billion increased 12 percent from the prior year • Operating income of $150.4 million increased $31.2 million, or 26 percent, from the prior year • Adjusted EBITDA of $212.1 million increased $53.3 million, or 34 percent, from the prior year • Earnings per share of $2.90 compared to $1.62 in the prior year, and adjusted earnings per share of $1.95 increased $0.72, or 59 percent, from the prior year
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MODINE MANUFACTURING CO updated its fiscal 2024 guidance (initiated).
- Period
- fiscal 2024
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Fiscal 2024 Outlook: • Net sales up 4% to 10% • Adjusted EBITDA of $240 million to $260 million, up 13% to 23%
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.