MODINE MANUFACTURING Reports FY2024 Q1 Earnings Results for June 30, 2023
August 8, 2023
🌥️Earnings Overview
On August 2, 2023, Modine Manufacturing ($NYSE:MOD) reported its earnings results for FY2024 Q1 ending June 30, 2023. Total revenue for the quarter increased by 15.0% year-over-year, reaching USD 622.4 million, while net income was USD 44.8 million compared to the preceding year’s 14.3 million.
Stock Price
On Wednesday, MODINE MANUFACTURING reported its earnings results for the first quarter of fiscal year 2024. The stock opened at $37.6 and closed at $38.2, representing a 0.3% increase from its previous closing price of 38.1. This marks the first quarter of Modine Manufacturing’s fiscal year 2024 and continues the trend of strong market performance for the company.
The company’s strong performance in the first quarter of fiscal year 2024 serves as clear evidence that Modine Manufacturing is well-positioned for continued success in the future. As the company continues to invest in new technologies and develop more efficient processes, it is likely that investors and shareholders will continue to benefit from Modine Manufacturing’s promising outlook. Live Quote…
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% |
Analysis
GoodWhale has done an extensive analysis of MODINE MANUFACTURING‘s fundamentals and found that it is a medium risk investment in terms of financial and business aspects. We have assigned it a Risk Rating of 3, which signifies a moderate risk. Upon closer inspection, we have identified two risk warnings in its income sheet and balance sheet. We urge potential investors to be aware of these risks before making an investment decision. For more detailed information, please register with us on goodwhale.com. With our analysis, you can make a more informed decision when it comes to investing in MODINE MANUFACTURING. More…
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
Modine Manufacturing has reported strong financial results for FY2024 Q1, with total revenue growing by 15.0% year-over-year to USD 622.4 million, and net income increasing by over threefold to USD 44.8 million. This is an impressive indication of the company’s performance and shows potential for future growth. For investors, this should serve as a signal to consider Modine Manufacturing as a potential investment option given its strong financial performance and promising outlook.
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