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Modine Misses Q4 Earnings Estimates

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Modine (NYSE: MOD) came out with quarterly earnings of $0.77 per share, missing the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -2.53%. A quarter ago, it was expected that this heating and cooling products maker would post earnings of $0.57 per share when it actually produced earnings of $0.74, delivering a surprise of 29.82%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Modine, which belongs to the Zacks Automotive – Original Equipment industry, posted revenues of $603.5 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 2.09%. This compares to year-ago revenues of $618.1 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Modine shares …

Full story available on Benzinga.com

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