Modine Mfg. Co. Q2 FY25 Financials Released
Ticker: MOD · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 67347
Sentiment: neutral
Topics: financials, 10-Q, quarterly-report
TL;DR
Modine Mfg. Q2 FY25: Assets, liabilities, debt, retained earnings, noncontrolling interests detailed. #Modine
AI Summary
Modine Manufacturing Co. reported its second quarter results for fiscal year 2025, ending September 30, 2024. The company's financial statements indicate various assets and liabilities, including property, plant, and equipment, as well as long-term debt. Specific financial figures for retained earnings and noncontrolling interests are also presented.
Why It Matters
This filing provides investors and analysts with the latest financial performance and position of Modine Manufacturing Co., crucial for evaluating the company's health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not contain any immediately apparent high-risk disclosures.
Key Numbers
- 3.25 — Fiscal Year End (Indicates the company's fiscal year concludes on March 31st.)
Key Players & Entities
- MODINE MANUFACTURING CO (company) — Filer
- 2024-09-30 (date) — End of Reporting Period
- 2024-10-30 (date) — Filing Date
- WI (location) — State of Incorporation
- 390482000 (dollar_amount) — IRS Number
FAQ
What were Modine Manufacturing Co.'s total assets as of September 30, 2024?
The filing indicates various asset categories such as 'OtherAssetsNoncurrent' and 'PropertyPlantAndEquipmentNet', but specific total asset figures are not provided in this excerpt.
What is the amount of Modine's long-term debt as of September 30, 2024?
The filing references 'LongTermDebtAndCapitalLeaseObligations' and its current portion, but the exact total amount is not detailed in this provided text.
What was the company's net income for the quarter ending September 30, 2024?
Net income figures are not present in this excerpt of the 10-Q filing.
What is the value of Modine's retained earnings as of September 30, 2024?
The filing lists 'us-gaap:RetainedEarningsMember' for 2024-09-30, indicating its presence in the financial statements, but the specific dollar amount is not provided in this text.
Does Modine Manufacturing Co. have any noncontrolling interests?
Yes, the filing mentions 'us-gaap:Noncontrolling' for 2024-09-30, indicating the presence of noncontrolling interests in the company's financial reporting.
Filing Stats: 4,490 words · 18 min read · ~15 pages · Grade level 6.7 · Accepted 2024-10-30 12:14:01
Key Financial Figures
- $0.625 — ange on which registered Common Stock, $0.625 par value MOD New York Stock Exchan
Filing Documents
- tmb-20240930x10q.htm (10-Q) — 2863KB
- tmb-20240930xex31d1.htm (EX-31.1) — 15KB
- tmb-20240930xex31d2.htm (EX-31.2) — 15KB
- tmb-20240930xex32d1.htm (EX-32.1) — 7KB
- tmb-20240930xex32d2.htm (EX-32.2) — 7KB
- 0001558370-24-013912.txt ( ) — 12435KB
- tmb-20240930.xsd (EX-101.SCH) — 42KB
- tmb-20240930_cal.xml (EX-101.CAL) — 71KB
- tmb-20240930_def.xml (EX-101.DEF) — 190KB
- tmb-20240930_lab.xml (EX-101.LAB) — 449KB
- tmb-20240930_pre.xml (EX-101.PRE) — 346KB
- tmb-20240930x10q_htm.xml (XML) — 3279KB
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. 25
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 34
Controls and Procedures
Item 4. Controls and Procedures. 35
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. 37
Other Information
Item 5. Other Information. 37
Exhibits
Item 6. Exhibits. 38 SIGNATURE 39 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 and six months ended September 30, 2024 and 2023 (In millions, except per share amounts) (Unaudited) Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Net sales $ 658.0 $ 620.5 $ 1,319.5 $ 1,242.9 Cost of sales 492.4 485.4 991.3 979.9 Gross profit 165.6 135.1 328.2 263.0 Selling, general and administrative expenses 85.8 68.9 168.6 130.3 Restructuring expenses 4.5 0.5 9.9 0.5 Operating income 75.3 65.7 149.7 132.2 Interest expense ( 7.4 ) ( 6.1 ) ( 14.9 ) ( 12.0 ) Other (expense) income – net ( 1.5 ) 0.1 ( 1.8 ) ( 0.5 ) Earnings before income taxes 66.4 59.7 133.0 119.7 Provision for income taxes ( 20.0 ) ( 12.8 ) ( 38.8 ) ( 27.5 ) Net earnings 46.4 46.9 94.2 92.2 Net earnings attributable to noncontrolling interest ( 0.3 ) ( 0.4 ) ( 0.8 ) ( 0.9 ) Net earnings attributable to Modine $ 46.1 $ 46.5 $ 93.4 $ 91.3 Net earnings per share attributable to Modine shareholders: Basic $ 0.88 $ 0.89 $ 1.78 $ 1.74 Diluted $ 0.86 $ 0.87 $ 1.73 $ 1.72 Weighted-average shares outstanding: Basic 52.6 52.4 52.5 52.4 Diluted 53.9 53.4 53.9 53.2 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 and six months ended September 30, 2024 and 2023 (In millions) (Unaudited) Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Net earnings $ 46.4 $ 46.9 $ 94.2 $ 92.2 Other comprehensive income (loss), net of income taxes: Foreign currency translation 21.1 ( 12.7 ) 14.1 ( 13.5 ) Defined benefit