Modine beats Q3 FY2024 estimates; raises full-year adjusted EBITDA guide to $305-313M

MODINE MANUFACTURING CO

2024-Q3 EPS reported $2.55 revenue$1,804,300,000

Q3 net sales $561.4M (flat YoY); operating income $61.7M (+56%); adjusted EBITDA $73.9M (+39%).
EPS $0.83 vs $0.46; adjusted EPS $0.74 vs $0.48; gross margin +530bps to 22.7%.
Raises FY2024 adjusted EBITDA guidance to $305-313M (up 44-48% YoY); net sales +4-7%.
Climate Solutions sales $242.5M (-2% YoY) but margin +530bps; Performance Technologies sales $323.0M (+2%) margin +540bps.
Free cash flow $131.2M for nine months, up $98.5M; net debt $183.5M, down $102.1M from FY2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MODINE MANUFACTURING CO reported third quarter ended December 31, 2023 results: revenue $561.4 million, EPS $0.83. Guidance raised.

Period: third quarter ended December 31, 2023
Revenue: $561.4 million
EPS: $0.83
Guidance: raised
Result: reported results

Exact text from the filing

global leader in thermal management technology and solutions, today reported financial results for the quarter ended December 31, 2023. Third Quarter Highlights: • Net sales of $561.4 million, in line with the prior year including divestiture impact • Operating income of $61.7 million increased $22.2 million, or 56 percent, from the prior year • Adjusted EBITDA of

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Source: SEC EDGAR

accession 0001140361-24-004572

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