Modine Manufacturing Co. Files Q1 FY25 10-Q
Ticker: MOD · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 67347
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
Modine's Q1 FY25 10-Q is in. Check financials.
AI Summary
Modine Manufacturing Co. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the first quarter of fiscal year 2025. Specific financial figures and operational details for this period are detailed within the filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational updates for Modine Manufacturing Co., crucial for assessing the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial performance and forward-looking statements within can indicate varying levels of risk.
Key Numbers
- Q1 FY25 — Reporting Period (First quarter of fiscal year 2025)
- Q1 FY24 — Prior Period (First quarter of fiscal year 2024 for comparison)
Key Players & Entities
- MODINE MANUFACTURING CO (company) — Filer
- 20240630 (date) — Conformed Period of Report
- 20240731 (date) — Filed as of Date
- 0000067347 (company) — Central Index Key
- 390482000 (dollar_amount) — IRS Number
- WI (location) — State of Incorporation
- 0331 (date) — Fiscal Year End
- RACINE (location) — City
- 53403 (location) — ZIP Code
- 2626361200 (dollar_amount) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024, which corresponds to the first quarter of Modine Manufacturing Co.'s fiscal year 2025.
When was this 10-Q filed?
This 10-Q filing was filed on July 31, 2024.
What is Modine Manufacturing Co.'s fiscal year end?
Modine Manufacturing Co.'s fiscal year ends on March 31.
What is the company's primary SIC code?
The company's Standard Industrial Classification (SIC) code is 3714, which relates to Motor Vehicle Parts & Accessories.
What is the company's business address?
The business address for Modine Manufacturing Co. is 1500 DeKoven Ave, Racine, WI 53403.
Filing Stats: 4,479 words · 18 min read · ~15 pages · Grade level 8.2 · Accepted 2024-07-31 12:25:21
Key Financial Figures
- $0.625 — nge on which registered Common Stock, $0.625 par value MOD New York Stock Exchan
Filing Documents
- ef20031006_10q.htm (10-Q) — 1443KB
- ef20031006_ex10-1.htm (EX-10.1) — 39KB
- ef20031006_ex10-2.htm (EX-10.2) — 18KB
- ef20031006_ex10-3.htm (EX-10.3) — 28KB
- ef20031006_ex31-1.htm (EX-31.1) — 11KB
- ef20031006_ex31-2.htm (EX-31.2) — 11KB
- ef20031006_ex32-1.htm (EX-32.1) — 4KB
- ef20031006_ex32-2.htm (EX-32.2) — 5KB
- 0001140361-24-035058.txt ( ) — 8028KB
- mod-20240630.xsd (EX-101.SCH) — 41KB
- mod-20240630_cal.xml (EX-101.CAL) — 79KB
- mod-20240630_def.xml (EX-101.DEF) — 214KB
- mod-20240630_lab.xml (EX-101.LAB) — 655KB
- mod-20240630_pre.xml (EX-101.PRE) — 394KB
- ef20031006_10q_htm.xml (XML) — 1468KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. 1
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 29
Controls and Procedures
Item 4. Controls and Procedures. 30
OTHER INFORMATION
PART II. OTHER INFORMATION
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 32
Other Information
Item 5. Other Information. 32
Exhibits
Item 6. Exhibits. 33 SIGNATURE 34 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. MODINE MANUFACTURING COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS For the three months ended June 30, 2024 and 2023 (In millions, except per share amounts) (Unaudited) Three months ended June 30, 2024 2023 Net sales $ 661.5 $ 622.4 Cost of sales 498.9 494.5 Gross profit 162.6 127.9 Selling, general and administrative expenses 82.8 61.4 Restructuring expenses 5.4 - Operating income 74.4 66.5 Interest expense ( 7.5 ) ( 5.9 ) Other expense – net ( 0.3 ) ( 0.6 ) Earnings before income taxes 66.6 60.0 Provision for income taxes ( 18.8 ) ( 14.7 ) Net earnings 47.8 45.3 Net earnings attributable to noncontrolling interest ( 0.5 ) ( 0.5 ) Net earnings attributable to Modine $ 47.3 $ 44.8 Net earnings per share attributable to Modine shareholders: Basic $ 0.90 $ 0.86 Diluted $ 0.88 $ 0.85 Weighted-average shares outstanding: Basic 52.5 52.3 Diluted 53.9 53.0 The notes to condensed consolidated financial statements are an integral part of these statements. 1 Table of Contents MODINE MANUFACTURING COMPANY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the three months ended June 30, 2024 and 2023 (In millions) (Unaudited) Three months ended June 30, 2024 2023 Net earnings $ 47.8 $ 45.3 Other comprehensive income (loss), net of income taxes: Foreign currency translation ( 7.0 ) ( 0.8 ) Defined benefit plans, net of income taxes of $ 0.3 and $ 0.2 million 0.8 0.8 Cash flow hedges, net of income taxes of $ 0 and ($ 0.2 ) million - ( 0.7 ) Total other comprehensive income (loss) ( 6.2 ) ( 0.7 ) Comprehensive income 41.6 44.6 Comprehensive income attributable to noncontrolling interest ( 0.4 ) ( 0.3 ) Comprehensive income attributable to Modine $ 41.2 $ 44.3 The notes to condensed consolidated financial statements are an integral part of these statements. 2 Table of