Modine Manf Stock Price, News & Analysis

Modine Manufacturing Company (NYSE: MOD) announced a conference call to discuss its second quarter financial results for the period ended September 30, 2021. The call will take place on November 3, 2021, at 8:00 a.m. Central Time, with results released after market close on November 2, 2021. CEO Neil D. Brinker and CFO Michael B. Lucareli will present the financial results. For more information, visit Modine's investor section. The company reported fiscal 2021 revenues of $1.8 billion, operating globally across various thermal management sectors.

Modine Manufacturing Company (NYSE: MOD) has appointed Matt Powell as General Manager of Heavy Duty Equipment (HDE), effective immediately. This strategic move follows the company's decision to separate its traditional powertrain cooling business from its electric vehicle (EV) segment. The realignment aims to enhance focus on growth areas and develop technologies for the EV market. Powell, formerly CEO of Amcor, brings extensive experience in organizational change. Fiscal 2021 revenues were reported at $1.8 billion, with plans to shift resources towards more profitable EV ventures.

Modine Manufacturing Company (NYSE: MOD), a leader in thermal management, has appointed Jake Feldman as General Manager for its Indoor Air Quality (IAQ) division. Feldman, who has extensive experience from Advanced Energy and Danaher Corporation, will report to Eric McGinnis, Vice President of Building HVAC. Modine emphasizes the importance of clean indoor air, especially in schools, and offers various HVAC solutions in this growing market. The company reported revenues of $1.8 billion for fiscal 2021 and operates globally across North America, South America, Europe, and Asia.

On September 28, 2021, Modine Manufacturing Company (NYSE: MOD) announced the appointment of Jonathan Schlemmer as General Manager of Heating. Schlemmer, with extensive experience from Regal Beloit and General Electric, will lead Modine's Heating division. This role emphasizes growth in the heating market, leveraging Modine’s significant install base and strong brand for both replacement and new installations. With 2021 revenues of $1.8 billion, Modine aims to enhance its presence in the hydronics market and pursue inorganic growth.

Modine Manufacturing Company (NYSE: MOD) announced the appointment of Gina Bonini as General Manager of its newly established Electric Vehicle business unit. This unit aims to develop thermal management systems for electric vehicles, focusing on optimal powertrain temperature regulation. Modine is currently in discussions with over 30 customers, in production on three programs, and has secured five additional programs set to launch in the next year. CEO Neil D. Brinker emphasized the importance of this growth market, aiming to enhance battery range and longevity through innovative technology.

Modine Manufacturing Company (NYSE: MOD) announced the establishment of a dedicated business unit focusing on thermal management systems for electric vehicles (EVs). This strategic move aims to support customers in the transition to alternative powertrains. CEO Neil D. Brinker emphasized the company's commitment to the EV market, highlighting ongoing developments with over 30 customers and multiple program wins. Modine's existing technologies are crucial for maintaining optimal battery temperatures, thereby enhancing battery range and longevity. Fiscal 2021 revenues reached $1.8 billion.

Modine Manufacturing Company (NYSE: MOD) has appointed Michael S. Postma as General Manager of its Coils business unit, reporting to Adrian I. Peace. Postma, formerly President of LA Darling and other Marmon Holdings subsidiaries, brings extensive P&L leadership experience to this complex segment. Modine aims to enhance commercial execution and operational efficiency within its coils division, a critical component of its $1.8 billion revenue base. The company operates globally, manufacturing specialized thermal management solutions.

Modine Manufacturing Company (NYSE: MOD) announced a strategic partnership with Advancoat LLC to provide Insitu^® coatings services in South Florida. As part of this agreement, Modine will close its Pompano Beach facility to enhance its coatings business through licensing partnerships. This strategy aims to expand coatings delivery and allow Modine to focus on product development. Modine has seen significant growth in its licensee network, now exceeding 90 licensed applicators in the Americas. Fiscal 2021 revenues for Modine were $1.8 billion.

Modine Manufacturing Company (NYSE: MOD) reported a strong financial performance for Q1 ended June 30, 2021. Net sales rose 42% to $494.6 million, driven by growth across all segments. Operating income improved to $8.7 million from a loss of $3.2 million, and adjusted EBITDA increased 62% to $33.3 million. EPS was $0.04, compared to a loss per share of $0.17 in the previous year. Despite supply chain disruptions and cost inflation, Modine maintains its full-year guidance, anticipating a 12-18% sales increase and adjusted EBITDA of $170 million to $185 million.