Welcome to our dedicated page for Modine Manf news (Ticker: MOD), a resource for investors and traders seeking the latest updates and insights on Modine Manf stock.
News and updates for Modine Manufacturing Co (NYSE: MOD) focus on its activities as a global thermal management company with Climate Solutions and Performance Technologies segments. Recent press releases highlight Modine’s emphasis on data center cooling, HVAC technologies, and engineered heat transfer systems for vehicular and industrial markets, alongside corporate and financial developments.
Investors following MOD news will find regular announcements about data center cooling solutions under the Airedale by Modine brand, including air-cooled chillers with free cooling, TurboChill DCS chillers for direct liquid cooling, and edge data center cooling systems such as EdgeDX and EdgeAire. Modine also reports on facility expansions, such as new and expanded manufacturing sites in Franklin, Wisconsin, and Chennai, India, aimed at increasing capacity for Airedale by Modine data center equipment and supporting demand across North America and the Asia-Pacific region.
Financial news for Modine typically includes quarterly results, segment performance for Climate Solutions and Performance Technologies, and updates to fiscal outlooks. These items are often accompanied by details on data center product demand, acquisitions within Climate Solutions, and restructuring or product group changes within Performance Technologies. Corporate governance and capital markets updates, such as board appointments, director retirements, shareholder meeting outcomes, and amendments to the company’s credit agreement, are also reported through news releases and related SEC filings.
This page aggregates such coverage so readers can review Modine’s latest product launches, manufacturing investments, earnings announcements, and governance changes in one place. For those tracking the MOD stock story, the news feed offers context on how Modine’s data center cooling strategy, global operations, and segment performance evolve over time.
Modine Manufacturing Company (NYSE: MOD) has partnered with Insight Partners and Engineered Equipment (EEI) to enhance the distribution of its Airedale product line in the Carolinas and Oklahoma. This collaboration aims to support K-12 educational facilities in improving indoor air quality (IAQ). The Airedale line includes advanced HVAC solutions, addressing the growing demand for air quality improvement in schools. Modine emphasizes its commitment to innovative solutions as indoor air quality becomes increasingly critical in educational environments.
Modine Manufacturing Company (NYSE: MOD) reported a strong first quarter for fiscal 2023, with net sales of $541.0 million, a 9% increase from the prior year. Operating income surged to $25.6 million, improving by $16.9 million. Adjusted EBITDA rose 27% to $42.2 million, while earnings per share increased to $0.27 from $0.04 a year ago. The Climate Solutions segment led growth with 18% sales growth, while the Performance Technologies segment saw a 2% increase. Modine maintains a positive outlook for fiscal 2023, projecting sales growth of 6% to 12%.
Modine Manufacturing Company (NYSE: MOD) has launched an IAQ Action Plan template aimed at enhancing indoor air quality (IAQ) in K-12 schools. This initiative aligns with the White House's Clean Indoor Air in Buildings challenge, responding to increased awareness of IAQ due to the COVID-19 pandemic. The template helps facility managers assess their HVAC systems and improve ventilation and air cleaning strategies. Modine emphasizes that good IAQ is vital for student learning and health. Access to the template and further IAQ resources is available on their website.
Modine Manufacturing Company (NYSE: MOD) will host a conference call on August 4, 2022, at 11:00 a.m. CT to discuss its first quarter financial results for the period ending June 30, 2022. The financial results will be released after the market closes on August 3, 2022. During the call, President and CEO Neil D. Brinker and CFO Michael B. Lucareli will present insights.
Details for accessing the live webcast and replay options are available on Modine's investor website.
Modine Manufacturing Company (NYSE: MOD) has commenced full-scale production of chillers for the data center market at its new Rockbridge, Virginia facility. The company secured a significant order from Corscale, a leader in sustainable data centers, slated for installation at their Gainesville Crossing Data Campus. Modine's innovative cooling solutions include the OptiChill™ chillers and AireWall™ fan walls, designed for high energy efficiency. This strategic move positions Modine to capitalize on the growing demand for energy-efficient cooling technologies in the expanding data center sector.
Modine Manufacturing Company (NYSE: MOD) has partnered with Texas AirSystems to enhance the access to its Airedale product line in Texas. The collaboration aims to provide innovative HVAC solutions to contractors and clients, improving product availability and empowering selection for diverse projects. Modine's focus on energy-efficient systems aligns with Texas AirSystems' commitment to value-added solutions. This partnership is expected to strengthen both companies' market positions and improve service offerings in the region.
Luxfer Holdings PLC (NYSE: LXFR) has appointed Sylvia A. Stein to its Board of Directors, effective August 1, 2022. Stein, currently Vice President and General Counsel at Modine Manufacturing Company (NYSE: MOD), brings over 20 years of experience in business strategy, sustainability, and risk management. She will serve on both the Nominating and Governance Committee and the Audit Committee, helping to enhance Luxfer's strategic direction and shareholder value.
Modine Manufacturing Company (NYSE: MOD) hosted an Investor and Analyst Day on June 22, 2022, outlining its strategies for revenue growth and margin improvement. The company aims for an average annual revenue growth of 6-8% over the next two years, increasing to 8-10% in the following three. Adjusted EBITDA margin targets are set at 10-12% in two years, reaching 13-15% in five. The leadership team emphasized a focus on acquisitions and capital reallocation to under-resourced areas. Modine's transformation aims to enhance efficiency and capitalize on global megatrends.
Modine Manufacturing Company (NYSE: MOD) announced its upcoming Investor and Analyst Day set for June 22, 2022, at 8:30 AM ET in New York City. The event will provide insights into Modine's multi-year strategy, financial outlook, and business opportunities, featuring presentations from its executive leadership. The webcast will be accessible on the Company's website for live viewing and replay.
Modine reported $2.1 billion in fiscal 2022 revenues, specializing in thermal management systems globally from its headquarters in Racine, Wisconsin.
Modine Manufacturing Company (NYSE: MOD) reported strong financial results for the fourth quarter and fiscal year ended March 31, 2022. Net sales rose 12% to $574.4 million, with operating income turning positive at $20.6 million. Full-year net sales reached $2.1 billion, a 13% increase. Earnings per share improved significantly to $1.62 from a prior loss of $4.11. While challenges remain, including inflation and supply chain issues, Modine anticipates growth in fiscal 2023 with projected sales increases of 6-12% and adjusted EBITDA of $180-$195 million.