Modine Manufacturing Co. Files Q3 2024 10-Q
Ticker: MOD · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 67347
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Modine Mfg. Q3 2024 10-Q filed. Check financials.
AI Summary
Modine Manufacturing Co. reported its third-quarter results for the fiscal year ending December 31, 2024. The company's financial performance for this period is detailed in the 10-Q filing. Specific financial figures and operational details for the quarter are available within the document.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Modine Manufacturing Co., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.
Key Numbers
- 2024-12-31 — Fiscal Year End (Reported period end date for the 10-Q filing.)
- 2025-02-05 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- MODINE MANUFACTURING CO (company) — Filer
- 20241231 (date) — Reported Period End Date
- 20250205 (date) — Filing Date
- 0000067347 (company) — Central Index Key
FAQ
What is the primary business of Modine Manufacturing Co.?
Modine Manufacturing Co. is in the business of Motor Vehicle Parts & Accessories, as indicated by its Standard Industrial Classification code [3714].
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending December 31, 2024.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on February 5, 2025.
What is the company's state of incorporation?
Modine Manufacturing Co. is incorporated in Wisconsin (WI).
What is the company's fiscal year end?
Modine Manufacturing Co.'s fiscal year ends on March 31 (0331).
Filing Stats: 4,517 words · 18 min read · ~15 pages · Grade level 6.5 · Accepted 2025-02-05 12:40:15
Key Financial Figures
- $0.625 — ange on which registered Common Stock, $0.625 par value MOD New York Stock Exchan
Filing Documents
- tmb-20241231x10q.htm (10-Q) — 3056KB
- tmb-20241231xex31d1.htm (EX-31.1) — 15KB
- tmb-20241231xex31d2.htm (EX-31.2) — 15KB
- tmb-20241231xex32d1.htm (EX-32.1) — 7KB
- tmb-20241231xex32d2.htm (EX-32.2) — 7KB
- 0001558370-25-000648.txt ( ) — 12925KB
- tmb-20241231.xsd (EX-101.SCH) — 44KB
- tmb-20241231_cal.xml (EX-101.CAL) — 72KB
- tmb-20241231_def.xml (EX-101.DEF) — 181KB
- tmb-20241231_lab.xml (EX-101.LAB) — 494KB
- tmb-20241231_pre.xml (EX-101.PRE) — 354KB
- tmb-20241231x10q_htm.xml (XML) — 3393KB
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. 35
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 nine months ended December 31, 2024 and 2023 (In millions, except per share amounts) (Unaudited) Three months ended December 31, Nine months ended December 31, 2024 2023 2024 2023 Net sales $ 616.8 $ 561.4 $ 1,936.3 $ 1,804.3 Cost of sales 467.2 434.1 1,458.5 1,414.0 Gross profit 149.6 127.3 477.8 390.3 Selling, general and administrative expenses 82.0 68.0 250.6 198.3 Restructuring expenses 8.3 1.6 18.2 2.1 Gain on sale of assets — ( 4.0 ) — ( 4.0 ) Operating income 59.3 61.7 209.0 193.9 Interest expense ( 6.2 ) ( 5.8 ) ( 21.1 ) ( 17.8 ) Other income (expense) – net 1.1 ( 0.5 ) ( 0.7 ) ( 1.0 ) Earnings before income taxes 54.2 55.4 187.2 175.1 Provision for income taxes ( 13.0 ) ( 10.3 ) ( 51.8 ) ( 37.8 ) Net earnings 41.2 45.1 135.4 137.3 Net earnings attributable to noncontrolling interest ( 0.2 ) ( 0.7 ) ( 1.0 ) ( 1.6 ) Net earnings attributable to Modine $ 41.0 $ 44.4 $ 134.4 $ 135.7 Net earnings per share attributable to Modine shareholders: Basic $ 0.78 $ 0.85 $ 2.56 $ 2.59 Diluted $ 0.76 $ 0.83 $ 2.49 $ 2.55 Weighted-average shares outstanding: Basic 52.7 52.3 52.6 52.4 Diluted 53.9 53.2 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 nine months ended December 31, 2024 and 2023 (In millions) (Unaudited) Three months ended December 31, Nine months ended December 31, 2024 2023 2024 2023 Net earnings $ 41.2 $ 45.1 $ 135.4 $ 137.3 Other comprehensive income (loss), net of income taxes: Foreign currency tra