---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-026418"
form_type: "8-K"
ticker: "MOD"
cik: "0000067347"
company_name: "MODINE MANUFACTURING CO"
filed_at: "2023-05-24T23:59:59+00:00"
generated_at: "2026-06-14T16:20:44.069910+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Modine reports record FY2023 sales of $2.3B, adjusted EBITDA up 34%; guides FY2024 EBITDA $240-260M

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-23-026418
- form_type: 8-K
- ticker: MOD
- cik: 0000067347
- company_name: MODINE MANUFACTURING CO
- filed_at: 2023-05-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/67347/000114036123026418/0001140361-23-026418-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/67347/000114036123026418/brhc20053409_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-026418
- JSON: https://secwatch.observer/filing/0001140361-23-026418.json
- Plain text: https://secwatch.observer/filing/0001140361-23-026418.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/67347/000114036123026418/0001140361-23-026418-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/67347/000114036123026418/0001140361-23-026418-index.htm
- Earnings Releases
  MODINE MANUFACTURING CO updated its fiscal 2024 guidance (initiated).
  - Period: fiscal 2024
  - Guidance: initiated
  - Result: guidance update
  source text: Fiscal 2024 Outlook: • Net sales up 4% to 10% • Adjusted EBITDA of $240 million to $260 million, up 13% to 23%
  evidence_url: https://www.sec.gov/Archives/edgar/data/67347/000114036123026418/0001140361-23-026418-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.