Modine Manufacturing Co. provides thermal management technology and engineered heating, cooling and ventilation solutions for mission-critical applications. News about MOD commonly covers operating and financial results, investor conference participation, product development, and capacity additions across its Climate Solutions, Data Centers and Performance Technologies businesses.
Company updates often center on Airedale by Modine data center cooling systems, including TurboChill chiller platforms, free-cooling architectures, and liquid-cooling support for high-density computing environments. Other recurring topics include global manufacturing expansion, energy- and water-efficiency applications, emissions-reduction technologies, governance matters, and changes affecting the company’s segment portfolio.
Modine Manufacturing Company (NYSE: MOD) announced the appointment of Adrian I. Peace as Vice President of Commercial and Industrial Solutions (CIS), effective immediately. Mr. Peace brings over 25 years of leadership experience in global industrial sectors, previously serving as a strategic advisor and in various roles at Republic Services and W.W. Grainger. He replaces Scott A. Miller, who is retiring. Modine reported fiscal 2021 revenues of $1.8 billion and operates in multiple international markets, focusing on thermal management solutions.
Modine Manufacturing Company (NYSE: MOD) will host a conference call on August 5, 2021, at 8:00 a.m. Central Time to discuss financial results for the first quarter ending June 30, 2021. The results will be released after market close on August 4, 2021. President and CEO Neil D. Brinker, along with CFO Michael B. Lucareli, will present the earnings during the call. Investors can access the live webcast via Modine's website. A replay will be available after the event.
Modine Manufacturing Company (NYSE: MOD) reported financial results for Q4 and FY ending March 31, 2021. Q4 net sales rose to $514.9 million, a 9% increase from last year. However, impairment charges of $32.4 million in the Automotive segment led to an operating loss of $14.3 million and a net loss per share of $0.29. For the full year, net sales decreased to $1.8 billion, down 8%, with a net loss per share of $4.11. Notably, adjusted earnings per share improved to $1.14 from $1.05 previously, reflecting operational resilience.
Modine Manufacturing Company (NYSE: MOD) announced the promotion of Mick Lucareli to Executive Vice President and Chief Financial Officer. Lucareli, who has been with the company for 22 years and previously served as Vice President, will now also lead Business Development. CEO Neil D. Brinker praised Lucareli’s role in the company's transformation and his leadership skills. With fiscal 2020 revenues of $2.0 billion, Modine focuses on thermal management solutions globally.
Modine Manufacturing Company (NYSE: MOD) will host a conference call on May 27, 2021, at 8:00 a.m. Central Time to discuss its fourth quarter and full fiscal year 2021 financial results, following the release of results on May 26, 2021. The call will be led by President and CEO Neil D. Brinker and CFO Michael B. Lucareli. Financial results will cover revenues of $2.0 billion reported in fiscal 2020. Access is available via the investor section of Modine's website. A replay will be provided post-event.
Modine Manufacturing Company (NYSE: MOD) announced the completion of the sale of its Austrian air-cooled automotive business to Schmid Metall GmbH. CEO Neil D. Brinker stated this divestiture is a critical step in Modine's transformation, allowing it to avoid ongoing operational costs and liabilities. This sale follows a prior announcement regarding the pending sale of the liquid-cooled automotive business to Dana Incorporated, awaiting regulatory approval. In fiscal 2020, Modine generated revenues of $2.0 billion and aims to refocus resources on its most promising markets.
Modine Manufacturing Company (NYSE: MOD) announced a definitive agreement to sell part of its European air-cooled automotive business, including its manufacturing facility in Kottingbrunn, Austria, to Schmid Metall GmbH, an affiliate of Rupert Fertinger GmbH. This transaction, expected to close in the first half of 2021 pending regulatory approvals, aims to mitigate significant liabilities and future cash investments. CEO Neil D. Brinker stated this aligns with the company's strategic exit from the automotive segment to focus on higher-margin businesses, following a similar sale to Dana Incorporated.
Modine Manufacturing Company (NYSE: MOD) reported its Q3 financial results for the quarter ending December 31, 2020. Net sales reached $484.3 million, marking a 2% year-over-year increase, driven by favorable currency impacts. However, the company faced a GAAP operating loss of $108.7 million due to $134.4 million in impairment charges within the automotive segment. Adjusted earnings per share improved to $0.41, up from $0.37 in the prior year. The company maintains its fiscal 2021 outlook, expecting sales to decline between 7% and 12%.
Modine Manufacturing Company (NYSE: MOD) will hold a conference call on February 5, 2021, at 8:00 a.m. Central Time to discuss its third quarter financial results for the period ended December 31, 2020. Results will be released post-market on February 4, 2021. The call will feature insights from President and CEO Neil D. Brinker and CFO Michael B. Lucareli. Investors can access the live webcast and materials via Modine's investor website.
Modine Manufacturing Company (NYSE: MOD) announced organizational changes including the elimination of the COO position held by Scott Bowser and the appointment of Tom Drahos to oversee global operations. Scott Miller will now lead the Commercial and Industrial Solutions segment. CEO Neil Brinker stated these changes will enhance strategic alignment. Modine reported fiscal 2020 revenues of $2.0 billion, focusing on thermal management systems across multiple markets. The company faces risks from COVID-19 impacts, market volatility, and operational challenges ahead.