MODINE MANUFACTURING Reports 15% Increase in Revenue for Q1 FY2024
August 25, 2023
☀️Earnings Overview
MODINE MANUFACTURING ($NYSE:MOD) reported total revenue of USD 622.4 million for the first quarter of FY2024 on June 30 2023, a 15.0% increase from the same period in the prior year. Net income for the period was USD 44.8 million, up from 14.3 million in the year before.
Analysis
GoodWhale has conducted an analysis of MODINE MANUFACTURING‘s financials, and the results show that it is rated as a medium risk investment. This assessment considers both financial and business aspects, taking into account factors such as the company’s balance sheets, income sheets, and cash flow statements. GoodWhale has also identified two risk warnings in the income sheet and balance sheet. To view the details of their analysis, users can register on goodwhale.com. With this information, potential investors can make informed decisions on whether to invest in MODINE MANUFACTURING. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Modine Manufacturing. More…
| Total Revenues | Net Income | Net Margin |
| 2.38k | 183.6 | 7.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Modine Manufacturing. More…
| Operations | Investing | Financing |
| 134.7 | -58.4 | -41.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Modine Manufacturing. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.61k | 963.4 | 11.35 |
Key Ratios Snapshot
Some of the financial key ratios for Modine Manufacturing are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.9% | 70.4% | 7.9% |
| FCF Margin | ROE | ROA |
| 3.3% | 19.9% | 7.3% |
Peers
The company operates in two segments, Engineered Thermal Systems and HVAC Systems. Its products are used in a variety of applications, including automotive, commercial vehicles, construction, power generation, agriculture, and other industrial and commercial markets. Modine has a diversified customer base and a strong global presence, with over 60 facilities in 21 countries. Modine’s primary competitors are Sogefi SpA, Haldex AB, and Druzhba Ad Raz. These companies are all leading providers of thermal management solutions. Modine has a competitive advantage in terms of its product diversification, global reach, and customer base.
– Sogefi SpA ($LTS:0NV0)
Sogefi SpA is an Italian automotive supplier that designs, manufactures, and sells engine filtration systems and components. The company has a market capitalization of 101.01 million as of 2022 and a return on equity of 14.62%. Sogefi SpA’s products are used in a variety of vehicles, including cars, trucks, buses, motorcycles, and agricultural and construction equipment. The company has a long history dating back to the early 20th century, and it has a strong presence in the European market. Sogefi SpA is a publicly traded company listed on the Milan Stock Exchange.
Summary
Investing in MODINE MANUFACTURING is a lucrative option with their first quarter earnings in FY2024 showing an impressive 15% increase in total revenue from the same period a year ago. Net income for the period also saw a large jump from the prior year’s figure of USD 14.3 million to USD 44.8 million, illustrating a highly favorable business environment. These results are especially encouraging given the current economic climate and suggest that future returns on MODINE MANUFACTURING investments could be promising.
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