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 (NYSE: MOD), a leader in thermal management technology, announced an Investor Day at its Racine, Wisconsin headquarters on September 11, 2024. The event will feature Modine's President and CEO, Neil D. Brinker, and CFO, Michael B. Lucareli, along with other executives. They will present the company's multi-year strategy, growth opportunities, and financial targets.
Attendance is by invitation only due to space constraints, and prior registration is required. A live webcast will be available on Modine's investor relations website, with an archived version accessible afterward for those unable to attend live.
Modine (NYSE: MOD) has announced a collaboration with RYDE Racine to enhance the zero-emission bus fleet in Wisconsin. The initiative involves equipping Racine's nine all-electric buses with Modine's EVantage™ Thermal Management Systems, with plans to add up to four more. This technology aims to improve the range, longevity, and reliability of the buses, which serve nearly 700 stops. The project is funded by the FTA's Low or No Emission Vehicle Program, enabling Racine to expand its fleet to 13 buses. This partnership aligns with Racine's goal to reduce its carbon footprint and supports Modine's strategy to grow in the EV market.
Modine (NYSE: MOD) reported its fiscal 2024 results, with notable achievements including a 5% increase in net sales to $2.4 billion and a 48% rise in adjusted EBITDA to $314.3 million. The company saw a 60% increase in operating income to $240.7 million, while adjusted earnings per share grew by 67% to $3.25. Despite a 2% decline in Q4 net sales, Modine's adjusted EBITDA rose by 20% and gross profit increased by 21%. Looking forward, the company forecasts 5-10% net sales growth and 16-22% adjusted EBITDA growth for fiscal 2025.
Modine, a global leader in thermal management technology and solutions, will host a conference call to discuss its fourth quarter and fiscal year 2024 financial results on May 22, 2024. The call will feature Modine's President and CEO, Neil D. Brinker, and CFO, Michael B. Lucareli. The company aims to provide systems that improve air quality and conserve natural resources through its Climate Solutions and Performance Technologies segments. Modine has operations across the globe and is headquartered in Racine, Wisconsin.
Modine, a leader in thermal management technologies, announced the purchase of a manufacturing site in Bradford, UK, to expand production of precision cooling equipment for data centers. The new facility will increase overall production capability by 150% and include a state-of-the-art test center. This move aims to meet the growing demand for data center cooling equipment globally.
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