NYSE$MOD
Modine Manufacturing Company · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Modine reported strong fourth quarter results, driving record full year sales and earnings.
Modine reported an 8% increase in net sales to $618.1 million and a significant rise in operating income to $48.5 million, up 135% year-over-year. Earnings per share reached $1.69, a substantial increase from $0.16 in the prior year, with adjusted EPS at $0.67, marking an 18% increase.
- Net sales increased by 8% compared to the prior year.
- Operating income increased by $27.9 million, or 135%, from the prior year.
- Earnings per share was $1.69 compared to $0.16 in the prior year.
- Adjusted earnings per share of $0.67 increased $0.10, or 18%, from the prior year
Headline financials
Revenue & EPS history
Modine · Revenue · Quarterly
$618M
Revenue by segment
Modine · $627M total across 2 segments · Q4 2023
- Performance Technologies$364M—58.1%
- Climate Solutions$263M—41.9%
Forward guidance
Modine anticipates another record year in fiscal 2024, projecting continued margin expansion across both segments, with net sales expected to increase by 4% to 10% and adjusted EBITDA to range from $240 million to $260 million.
Tailwinds
- Net Sales up 4% to 10%
- Adjusted EBITDA of $240 to $260 million, up 13% to 23%
- Anticipated continued margin expansion across both segments
- Climate Solutions adjusted EBITDA margin is within the 13-15 percent range targeted for fiscal 2024, a full year ahead of schedule
- Significant margin improvements in Performance Technologies
Headwinds
- Potential adverse developments or disruptions in the global economy and financial markets, including impacts related to inflation and rising energy costs
- Supply chain challenges or supplier constraints
- Tariffs, sanctions and other trade issues or cross-border trade restrictions
- Foreign currency exchange rate fluctuations
- Impact of COVID-19 on the national and global economy, our business, suppliers, customers, and employees
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+2.8%
Avg return
Earnings day
+4.9%
Avg return
5 days after
+6.5%
Avg return
30 days after
63%
40 / 64 earnings
Positive
+41.1%
Q2 2021
Best reaction
-39.9%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | — | — | — | |
| Q3 2026 | +2.9% | +10.1% | -6.1% | |
| Q2 2026 | -4.3% | -5.6% | +0.1% | |
| Q1 2026 | +18.7% | +23.7% | +19.8% | |
| Q4 2025 | -11.4% | -14.9% | -8.4% | |
| Q3 2025 | +7.3% | +0.3% | -18.0% | |
| Q2 2025 | -7.8% | -14.8% | +1.8% | |
| Q1 2025 | +15.0% | -3.4% | +13.3% | |
| Q4 2024 | -5.5% | +1.3% | -8.3% | |
| Q3 2024 | +4.7% | +6.9% | +35.9% | |
| Q2 2024 | +2.2% | +3.1% | +31.1% | |
| Q1 2024 | +13.6% | +16.1% | +28.6% | |
| Q4 2023 | +18.3% | +32.9% | +53.0% | |
| Q3 2023 | -5.1% | -1.0% | +11.1% | |
| Q2 2023 | +3.7% | +14.0% | +16.7% | |
| Q1 2023 | +9.8% | +18.3% | +11.8% | |
| Q4 2022 | +26.6% | +31.4% | +29.6% | |
| Q3 2022 | +14.2% | +8.2% | -0.3% | |
| Q2 2022 | -0.7% | -0.2% | -4.8% | |
| Q1 2022 | -17.2% | -15.5% | -26.9% | |
| Q4 2021 | +0.9% | +8.4% | +1.0% | |
| Q3 2021 | +2.7% | +7.4% | +11.5% | |
| Q2 2021 | +41.1% | +51.8% | +77.7% | |
| Q1 2021 | +19.6% | +20.7% | +18.7% | |
| Q4 2020 | -1.7% | +0.6% | -9.0% | |
| Q3 2020 | +23.8% | +9.8% | -14.0% | |
| Q2 2020 | -39.9% | -34.5% | -39.3% | |
| Q1 2020 | -26.4% | -21.4% | -26.9% | |
| Q4 2019 | +3.5% | +8.0% | +5.0% | |
| Q3 2019 | +9.0% | +6.7% | +7.4% | |
| Q2 2019 | +11.2% | +17.5% | +12.9% | |
| Q1 2019 | +0.3% | +1.4% | -3.4% | |
| Q4 2018 | +4.9% | -2.2% | +3.3% | |
| Q3 2018 | +0.4% | +4.7% | -4.1% | |
| Q2 2018 | +10.4% | +13.8% | +10.9% | |
| Q1 2018 | +3.1% | +5.8% | -0.6% | |
| Q4 2017 | +20.9% | +19.7% | +27.6% | |
| Q3 2017 | -10.0% | -13.0% | -14.5% | |
| Q2 2017 | -12.3% | -15.1% | +21.0% | |
| Q1 2017 | -0.7% | +2.7% | +14.6% | |
| Q4 2016 | -2.6% | -6.8% | -18.5% | |
| Q3 2016 | +16.3% | — | — | |
| Q2 2016 | +1.7% | — | — | |
| Q1 2016 | -2.2% | — | — | |
| Q4 2015 | -6.5% | — | — | |
| Q3 2015 | -0.4% | — | — | |
| Q2 2015 | +3.1% | — | — | |
| Q1 2015 | -2.6% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q3 2014 | +11.1% | — | — | |
| Q2 2014 | +1.9% | — | — | |
| Q1 2014 | +25.6% | — | — | |
| Q4 2013 | +8.5% | — | — | |
| Q3 2013 | +2.0% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2010 | +6.4% | — | — | |
| Q4 2012 | -11.6% | — | — | |
| Q3 2012 | +1.1% | — | — | |
| Q3 2011 | +1.1% | — | — | |
| Q2 2012 | +5.1% | — | — | |
| Q4 2011 | -5.7% | — | — | |
| Q1 2011 | -5.7% | — | — | |
| Q1 2012 | -5.7% | — | — | |
| Q2 2011 | -5.7% | — | — |
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