Financial Data and Key Metrics Changes - The company reported a 6% increase in first-quarter sales, driven by acquisitions and organic growth in climate solutions, partially offset by divestitures and planned initiatives in performance technologies [14] - Adjusted EBITDA increased by 25% or $21 million, with an adjusted EBITDA margin of 15.3%, marking the 10th consecutive quarter of year-over-year margin improvement [15] - Adjusted earnings per share rose to $1.04, a 22% increase compared to the prior year [15] Business Line Data and Key Metrics Changes - The climate solutions segment saw a 31% increase in adjusted EBITDA with a margin over 20%, driven by a 138% growth in data center sales, amounting to $94 million [9][10] - Performance technologies experienced a 25% increase in adjusted EBITDA, with an EBITDA margin improvement of 390 basis points, despite a 10% decrease in revenue primarily due to divestitures and lower sales in automotive and off-highway markets [12][14] Market Data and Key Metrics Changes - Data center sales in North America nearly doubled compared to the prior year, reflecting strong demand from hyperscale customers [4][10] - HVAC&R sales increased by 7% or $5 million, while heat transfer product sales declined by 21% or $29 million, primarily due to reduced demand in European markets [10][11] Company Strategy and Development Direction - The company is focusing on strategic acquisitions and investments in high-growth areas, particularly in climate solutions and performance technologies [3][4] - The 80/20 initiative is being utilized to prioritize and invest in the best-performing businesses, leading to improved margins and earnings [3][4][11] - The company plans to continue evaluating its portfolio and divesting from lower-margin businesses while seeking opportunities for growth [9][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong start to the fiscal year, with expectations for continued growth in data center sales and overall company performance [3][17] - The outlook for fiscal 2025 has been raised, with total company sales growth now projected between 6% to 11%, driven by significant increases in data center sales [17][19] - Management anticipates another year of good cash flow and plans to maintain capital spending in line with the previous year [19] Other Important Information - The company generated $14 million in free cash flow during the first quarter, with a net debt of $363 million, resulting in a leverage ratio of 1.1 [16] - The upcoming Analyst and Investor Day is scheduled for September 11, where further insights into the company's transformation and updated financial targets will be provided [19] Q&A Session Summary Question: Data center performance and future growth - Management indicated that the strong performance in data centers is expected to continue, with capacity expansions planned for the second half of the year [21][22] Question: Heat transfer products outlook - The majority of the revenue drop in heat transfer products was attributed to lower heat pump sales, with expectations for easier comparisons in the second half of the year [23][24] Question: Revenue rationalization targets - The company targets about $100 million in revenue rationalization each year, focusing on divesting from lower-margin businesses [26][27] Question: Guidance for fiscal 2025 - Management provided insights into the expected revenue growth rates across different segments, with a focus on maintaining high single-digit organic growth [28][50] Question: GenSet business outlook - The GenSet business is expected to grow to approximately $120 million in sales for fiscal 2025, reflecting a 20% increase [40] Question: M&A strategy and market conditions - The company is well-positioned for M&A opportunities, with a strong balance sheet and cash flow, while remaining disciplined in evaluating potential acquisitions [58][59]

First Quarter Fiscal 2025 July 31, 2024 NEIL BRINKER President and Chief Executive Officer MICK LUCARELI Executive Vice President and Chief Financial Officer KATHY POWERS Vice President, Treasurer, and Investor Relations Forward-Looking Statements This presentation contains statements, including information about future financial performance and market conditions, accompanied by phrases such as "believes," "estimates," "expects," "plans," "anticipates," "intends," "projects," and other similar "forward-look ...

Exhibit 99.1 Modine Reports First Quarter Fiscal 2025 Results First Quarter Financial Results Racine, WI – July 30, 2024 – Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today reported financial results for the quarter ended June 30, 2024. • Net sales growth between 6 percent to 11 percent • Adjusted EBITDA of $375 million to $395 million, an increase of 19 percent to 26 percent over the prior year • Adjusted earnings per share of $3.65 to $3.95 "Our first qu ...

RACINE, Wisc., July 30, 2024 /PRNewswire/ -- Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today reported financial results for the quarter ended June 30, 2024. Revised Fiscal 2025 Outlook: First Quarter Financial Results Selling, general and administrative ("SG&A") expenses increased $21.4 million to $82.8 million. The increase was primarily due to higher compensation-related expenses, including higher incentive compensation driven by improved financial res ...

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). While the historical EPS growth rate for Modine is 25.7%, investors should actually focu ...

Investors interested in Automotive - Original Equipment stocks are likely familiar with AB Volvo (VLVLY) and Modine (MOD) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. Currently, AB Volvo has a Zacks Rank of #2 (Buy), while Modine has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that VLVLY has an improving earnings out ...

Zacks Investment Research Image Source: Shares of Modine Manufacturing Company (MOD) reached an all-time high of $117.04 on Jul 16, 2024. It is currently trading around just 2% off its record-high levels. Year to date, shares of MOD have surged more than 90%, handily outperforming the industry and close peers, including Dana Inc. (DAN) and Gentherm Inc. (THRM) . The impressive stock performance of MOD, which is a global leader in thermal management solutions, could be largely attributed to the acquisition o ...

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share pric ...

With 12kW of cooling capacity and 10kW of heating capacity, the EVantage CCS delivers optimal interior temperatures and performance in any operating environment. Its simple, lightweight, and modular design makes the CCS an ideal solution for a wide range of vehicle applications, including commercial, off-highway, and specialty EVs. Designed to seamlessly integrate into the vehicle's chassis to reduce design complexity, the system's high-performance capabilities are driven by smart electric components, such ...

Modine (MOD) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Revisions to Earnings Estimates Modine is expected to post earnings of $0.84 per share for the current quarter, representing a year-over-year change of -1.2%. Over the last 30 days, the Zacks Consensus Estimate has changed +7.1%. Having a strong externally audited track record, our proprietary stock rati ...