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) announced a significant upgrade to its HVAC technology for educational facilities, focusing on enhancing indoor air quality (IAQ) as schools resume in-person classes post-pandemic.
The company partnered with Global Plasma Solutions to implement patented NPBI™ technology, designed to reduce airborne pathogens. This upgrade is compatible with existing Modine products, offering energy savings and improved air quality. Modine reported fiscal 2019 revenues of $2.2 billion, emphasizing its commitment to providing top-tier HVAC solutions for schools.
Modine Manufacturing Company (NYSE: MOD) has launched an Authorized Contractor Program aimed at connecting homeowners with qualified Modine contractors. The initiative addresses common homeowner concerns regarding contractor reliability and safety, simplifying the locating process through a user-friendly database. Customers can enter their ZIP codes on Modine's website to find nearby contractors. This program is expected to enhance customer experience and strengthen Modine's service network in the HVAC industry. Modine reported fiscal 2019 revenues of $2.2 billion.
Modine Manufacturing Company (NYSE: MOD) reported financial results for the quarter ended June 30, 2020, revealing a 34% decline in net sales to $347.8 million, primarily due to the COVID-19 pandemic. The company faced an operating loss of $3.2 million and a net loss of $8.4 million, with adjusted EBITDA falling to $20.5 million. Despite the challenges, significant cash flow improvements were evident, with $12.3 million from operating activities. The automotive business is being prepared for a potential sale as Modine expects gradual recovery in customer demand.
Modine Manufacturing Company (NYSE: MOD) announced the immediate resignation of CEO Thomas A. Burke, who has served for over 12 years. Mick Lucareli, the current CFO, has been appointed as Interim CEO. Burke will assist in the transition until August 28, 2020. Under Burke's leadership, Modine implemented a strategic transformation, including diversifying and acquiring Luvata HTS. The Board is now seeking a new leader to drive the company's future growth as it divests its legacy Automotive business.
Modine Manufacturing Company (NYSE: MOD) will host a conference call on August 5, 2020, to discuss its first quarter financial results for the period ending June 30, 2020. The financial results will be released after market close on August 4, 2020. During the call, President and CEO Thomas A. Burke and CFO Michael B. Lucareli will present the findings. Modine reported $2.0 billion in fiscal 2020 revenues, specializing in thermal management solutions across diverse global markets.