Modine Manufacturing Co. Files 2024 10-K

TL;DR

Modine's 2024 10-K is in. Full financials and outlook available now.

AI Summary

Modine Manufacturing Co. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its operations in the motor vehicle parts and accessories industry. The company, incorporated in Wisconsin, is headquartered at 1500 DeKoven Ave, Racine, WI. Key financial details and operational aspects are outlined in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Modine's financial health, strategic direction, and risks for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard risk factors inherent to manufacturing and automotive industries, but specific details on the severity or impact of these risks are not immediately available without deeper analysis.

Key Numbers

• N/A — Revenue (Specific revenue figures for FY2024 are not detailed in the provided header information.)
• N/A — Net Income (Specific net income figures for FY2024 are not detailed in the provided header information.)
• N/A — Total Assets (Specific total asset figures for FY2024 are not detailed in the provided header information.)
• N/A — Total Liabilities (Specific total liability figures for FY2024 are not detailed in the provided header information.)
• N/A — Long-Term Debt (Specific long-term debt figures for FY2024 are not detailed in the provided header information.)

Key Players & Entities

• MODINE MANUFACTURING CO (company) — Filer
• 0000067347 (company) — Central Index Key
• 3714 (company) — Standard Industrial Classification (Motor Vehicle Parts & Accessories)
• WI (company) — State of Incorporation
• 1500 DEKOVEN AVE, RACINE, WI 53403 (company) — Business and Mail Address
• 2626361200 (company) — Business Phone
• 20240331 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.625 — nge on which registered Common Stock, $0.625 par value MOD New York Stock Exchan
• $45.75 — billion based upon the market price of $45.75 per share on September 29, 2023, the la
• $2.4 b — l 2024, our consolidated net sales were $2.4 billion, a 5 percent increase from $2.3 b
• $2.3 billion — $2.4 billion, a 5 percent increase from $2.3 billion in fiscal 2023. Sales increased in both
• $241 million — tions segments. Our operating income of $241 million in fiscal 2024 increased $91 million fr
• $91 million — f $241 million in fiscal 2024 increased $91 million from the prior year, primarily due to h

Filing Documents

• ef20026276_10k.htm (10-K) — 3389KB
• ef20026276_ex4-6.htm (EX-4.6) — 13KB
• ef20026276_ex19.htm (EX-19) — 78KB
• ef20026276_ex21.htm (EX-21) — 27KB
• ef20026276_ex23-1.htm (EX-23.1) — 3KB
• ef20026276_ex23-2.htm (EX-23.2) — 3KB
• ef20026276_ex31-1.htm (EX-31.1) — 11KB
• ef20026276_ex31-2.htm (EX-31.2) — 11KB
• ef20026276_ex32-1.htm (EX-32.1) — 5KB
• ef20026276_ex32-2.htm (EX-32.2) — 5KB
• ef20026276_ex97.htm (EX-97) — 32KB
• image01.jpg (GRAPHIC) — 142KB
• image02.jpg (GRAPHIC) — 232KB
• 0001140361-24-027133.txt ( ) — 18304KB
• mod-20240331.xsd (EX-101.SCH) — 83KB
• mod-20240331_cal.xml (EX-101.CAL) — 137KB
• mod-20240331_def.xml (EX-101.DEF) — 626KB
• mod-20240331_lab.xml (EX-101.LAB) — 1416KB
• mod-20240331_pre.xml (EX-101.PRE) — 905KB
• ef20026276_10k_htm.xml (XML) — 3583KB

of Form 10-K

Part III of Form 10-K (Items 10, 11, 12, 13, 14) MODINE MANUFACTURING COMPANY TABLE OF CONTENTS PART I ITEM 1. BUSINESS. 1 ITEM 1A. RISK FACTORS. 11 ITEM 1B. UNRESOLVED STAFF COMMENTS. 20 ITEM 1C. CYBERSECURITY. 21 ITEM 2. PROPERTIES. 22 ITEM 3. LEGAL PROCEEDINGS. 22 ITEM 4. MINE SAFETY DISCLOSURES. 22 INFORMATION ABOUT OUR EXECUTIVE OFFICERS. 23 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES. 24 ITEM 6. RESERVED 26 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. 26 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 42 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. 45 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. 94 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 94 ITEM 9B. OTHER INFORMATION. 95 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 95 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE. 95 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION. 96 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. 96 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE. 97 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES. 97 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES. 98 ITEM 16. FORM 10-K SUMMARY. 98 SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS 99 EXHIBIT INDEX 100

SIGNATURES

SIGNATURES 104 Table of Contents (This page intentionally left blank.) Table of Contents PART I ITEM 1 . BUSINESS . At Modine Manufacturing Company, we are Engineering a Cleaner, Healthier World . Building on more than 100 years of excellence in thermal management, we provide trusted products and technologies that help improve our world. Our broad portfolio of systems and solutions support our mission of improving indoor air quality, conserving natural resources, lowering harmful emissions, enabling cleaner running vehicles, and using environmentally friendly refrigerants. We sell innovative and environmentally responsible thermal management products and solutions to diversified customers in a wide array of commercial, industrial, and building heating, ventilating, air conditioning, and refrigeration ("HVAC&R") markets. In addition, we are a leading provider of engineered heat transfer systems and high-quality heat transfer components for use in on- and off-highway original equipment manufacturer ("OEM") vehicular applications. Our primary customers across the globe include: Developers and operators of data centers; Heating, ventilation and cooling OEMs; Healthcare facility operators and K-12 school systems; Construction architects and contractors; Wholesalers of heating equipment; Agricultural, industrial and construction equipment OEMs; Commercial and industrial equipment OEMs; and Automobile, truck, bus, and specialty vehicle OEMs. We partner with our customers across industries to provide sustainable systems, services, and components to solve complex heat transfer challenges. We focus on product design, from raw materials to end-of-life recyclability, to optimize total cost of ownership and reduce negative environmental impacts across the product life cycle. We anticipate and prepare for change in order to be at the forefront of technological advances and to provide innovative solutions to help our customers meet their sustainability targ

View Full Filing

View this 10-K filing on SEC EDGAR