Modine Manf Stock Price, News & Analysis

Modine Manufacturing Company (NYSE: MOD) announced its EVantage Battery Thermal Management System (BTMS) has been selected by New Flyer for their Xcelsior CHARGE NG electric transit bus. This collaboration aims to enhance zero-emission technologies, with over 300 units already in use. The BTMS integrates with New Flyer's high-energy Lithium Nickel Manganese Cobalt (NMC) batteries, ensuring optimal performance and reliability in extreme conditions. Both companies aim to support the transition from internal combustion to electric vehicles, leveraging Modine's expertise in thermal management.

Modine Coatings, a division of Modine Manufacturing Company (NYSE: MOD), announces a partnership with Air Solutions Partners to enhance the availability of its GulfCoat® Contractor Series and Insitu® Spray Applied Coating Services in Texas and Oklahoma. This collaboration aims to provide HVAC/R contractors with superior coating solutions to protect their investments, as corrosion poses a significant risk to equipment longevity. The initiative underscores Modine's commitment to delivering quality products and maximizing service value for contractors in these regions.

Modine Coatings, a division of Modine Manufacturing Company (NYSE: MOD), has partnered with Wright Sales to enhance the availability of its GulfCoat® Contractor Series and Insitu® Spray Applied Coating Services across California, Arizona, Nevada, New Mexico, Texas, and Hawaii. The collaboration aims to empower HVAC/R contractors with superior coatings to extend the lifespan of equipment in corrosive environments. This strategic move reinforces Modine's commitment to providing innovative solutions tailored to customer needs.

Modine Coatings has announced a partnership with Target Sales to enhance the reach of its GulfCoat® Contractor Series product line and Insitu® Spray Applied Coating Services across Florida and the Caribbean. This agreement aims to provide HVACR contractors with superior corrosion-resistant coating solutions in regions exposed to high levels of corrosive agents. According to Sales Director Daniel Fisher, this initiative prioritizes customer needs and extends product availability, ensuring efficient solutions for HVAC units and refrigeration equipment.

Modine Manufacturing Company (NYSE: MOD) reported strong Q2 fiscal 2023 results, with net sales reaching $578.8 million, a 21% increase year-over-year. Operating income soared to $36.8 million, up $26.3 million, while adjusted EBITDA rose 73% to $51.1 million. Earnings per share climbed to $0.46, compared to $0.01 in the prior year. The company has raised its fiscal 2023 adjusted EBITDA outlook to $190 to $200 million, citing effective strategic initiatives and improved commercial excellence, despite ongoing inflationary pressures.

Modine Manufacturing Company (NYSE: MOD) is urging contractors and facility managers to prepare for the winter season by ensuring sufficient heating solutions and conducting routine maintenance. The company reports nearly double the inventory compared to last year, producing about 600 units daily. Modine emphasizes proactive preparedness for contractors and facility managers to meet customer demands and maintain operational efficiency. Essential maintenance tips are provided for facility readiness, with a focus on HVAC systems. The firm aims to support clients with effective heating solutions throughout the winter.

Modine Manufacturing Company (NYSE: MOD) has announced the shipment of its first chillers from the newly repurposed Rockbridge, Virginia facility, targeting the North American data center market. This move is part of an order with Corscale. Modine’s investment at Rockbridge aims to enhance production capabilities for cooling solutions, projected to generate over $100 million in revenue in the coming year, with potential growth exceeding $250 million in five years. The facility will also host advanced testing capabilities and is positioned in Virginia, home to significant hyperscale data center operations.

Modine Manufacturing Company (NYSE: MOD) announces a partnership with The Shyft Group to provide custom thermal management solutions for Blue Arc's Class 3 all-electric delivery vehicles. The Modine EVantage™ system enhances battery thermal management, power electronics cooling, and passenger comfort, designed specifically for commercial fleet applications. This collaboration aims to optimize vehicle safety, functionality, and performance, reflecting Modine's commitment to innovation in EV technologies.