Performance Technologies

Modine Reports Second Quarter Fiscal 2024 Results, Raises Full-Year Earnings Guidance

Retrieved on: 
Wednesday, November 1, 2023
Depreciation, EBITDA, HVAC, Growth, Climate Solutions Caucus, NYSE, Performance Technologies, SG&A, Video game, Maple syrup, Retail, Modine

RACINE, Wis., Nov. 1, 2023 /PRNewswire/ -- Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today reported financial results for the quarter ended September 30, 2023.

Key Points: 
  • During the second quarter of fiscal 2024, the Company recorded $0.5 million of restructuring expenses and $1.0 million of environmental charges.
  • Earnings per share was $0.87 in the second quarter, compared with $0.46 in the second quarter of the prior year.
  • Adjusted earnings per share was $0.89 in the second quarter, compared with adjusted earnings per share of $0.48 in the second quarter of the prior year.
  • "Our second quarter performance was stronger than expected, so we are once again raising our full-year earnings guidance," added Brinker.

Modine Reports Another Record Quarter, Raises Full-Year Earnings Guidance

Retrieved on: 
Wednesday, August 2, 2023
HVAC, Growth, Depreciation, EBITDA, Data center, NYSE, Climate Solutions Caucus, Renewable energy, Video game, Retail, Modine, SG&A, Performance Technologies

RACINE, Wis., Aug. 2, 2023 /PRNewswire/ -- Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today reported financial results for the quarter ended June 30, 2023. 

Key Points: 
  • Net sales increased 15 percent in the first quarter to $622.4 million, compared with $541.0 million in the prior year.
  • Earnings per share was $0.85 in the first quarter, compared with $0.27 in the first quarter last year.
  • Adjusted earnings per share was $0.85 in the first quarter, compared with adjusted earnings per share of $0.32 in the first quarter of the prior year.
  • Based on current exchange rates and market outlook, Modine provides its revised outlook for fiscal 2024:

MODINE MANUFACTURING RECOGNIZED FOR 60-YEAR PARTNERSHIP WITH HARDI

Retrieved on: 
Monday, December 19, 2022
Air conditioning, Refrigeration, Modine Manufacturing, NYSE, Climate Solutions Caucus, Human, HVACR, Partnership, Water, Heat, Knowledge, Central heating, Performance Technologies, Engineering, HVAC, Natural Resources, Heating, ventilation, and air conditioning, Online shopping, Modine

RACINE, Wis., Dec. 19, 2022  /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD), a leader in innovative heating solutions in the HVAC industry, was recently recognized by Heating, Air Conditioning, Refrigeration Distributors International (HARDI) for its 60-year participation in the HARDI conference.

Key Points: 
  • RACINE, Wis., Dec. 19, 2022 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD), a leader in innovative heating solutions in the HVAC industry, was recently recognized by Heating, Air Conditioning, Refrigeration Distributors International (HARDI) for its 60-year participation in the HARDI conference.
  • Modine Manufacturing is one of the oldest supporters of HARDI and regularly brings its knowledge of the HVAC/R industry to the annual conference.
  • "At Modine, we pride ourselves in providing innovative solutions that help produce a cleaner, healthier world," said Elizabeth Casebolt, marketing manager of the heating division at Modine Manufacturing Company.
  • "Through our 60-year partnership with HARDI, we've been given a platform to share information with nearly 800 wholesale companies, manufacturing associates and manufacturing representatives that make up the organization.

Modine Battery Thermal Management System Selected for New Flyer's Xcelsior CHARGE NG™ All-Electric Bus

Retrieved on: 
Tuesday, December 13, 2022
Lithium, Water, MCI, Climate Solutions Caucus, Toronto Stock Exchange, Natural Resources, New Flyer Xcelsior, Transport, FORCE America, Inc., NABI, Life, NFI, Heat, Supply management, Performance Technologies, EV, Natural gas, Longevity, NYSE, City, News, ICE, ECP, NMC, Safety, TSX, Health, Temperature, Engineering, Renewable energy, Modine, New Flyer

RACINE, Wis., Dec. 13, 2022 /PRNewswire/ -- As health and environmental concerns accelerate the shift to zero-emission technologies, Modine Manufacturing Company (NYSE: MOD, "Modine" or the "Company"), a diversified global leader in thermal management technology and solutions, today announced that leading global bus manufacturer, New Flyer of America Inc. (New Flyer), has selected the Company's EVantage Battery Thermal Management System (BTMS) in New Flyer's zero-emission Xcelsior CHARGE NG™ heavy-duty transit bus model. New Flyer is a subsidiary of NFI Group Inc. (NFI),  a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions.

Key Points: 
  • With more than 300 US-made units in use, the Modine EVantage Battery Thermal Management System provides a rugged and dependable solution for New Flyer's battery-electric, zero-emission transit bus.
  • RACINE, Wis., Dec. 13, 2022 /PRNewswire/ -- As health and environmental concerns accelerate the shift to zero-emission technologies, Modine Manufacturing Company (NYSE: MOD, "Modine" or the "Company"), a diversified global leader in thermal management technology and solutions, today announced that leading global bus manufacturer, New Flyer of America Inc. (New Flyer), has selected the Company's EVantage Battery Thermal Management System (BTMS) in New Flyer's zero-emission Xcelsior CHARGE NG heavy-duty transit bus model.
  • As a long-trusted supplier for our internal combustion platforms, Modine now delivers a battery thermal management solution aligned with the operational needs of our electric transit bus platform," said David White, Executive Vice President of Supply Management, NFI.
  • "Modine has provided New Flyer with thermal management systems for its internal combustion engine (ICE) buses for over five years.

MODINE COATINGS TEAMS WITH AIR SOLUTIONS PARTNERS TO EXPAND ACCESS TO LEADING HVAC AFTERMARKET OFFERINGS

Retrieved on: 
Monday, December 12, 2022
Water, Climate Solutions Caucus, Natural Resources, Partnership, HVAC, NYSE, Refrigeration, Corrosion, Original equipment manufacturer, Marketing, Engineering, Performance Technologies, Heating, ventilation, and air conditioning, Modine

RACINE, Wis., Dec. 12, 2022 /PRNewswire/ -- Modine Coatings, a division of Modine Manufacturing Company (NYSE: MOD) and a leader in corrosion-resistant coatings technology for the HVAC industry, is partnering with Air Solutions Partners to expand access to the GulfCoat® Contractor Series product line and the Insitu® Spray Applied Coating Services.

Key Points: 
  • As part of the partnership, Air Solutions Partners, a RectorSeal manufacturing representative, will market Insitu Spray Applied Coating Services and the complete line of GulfCoat Contractor Series products in Texas and Oklahoma.
  • The partnership will bring a dedicated focus to Modine Coating products and services for HVAC/R contractors to help maximize solutions in their respective markets.
  • "At Modine, protecting our clients' HVAC/R investment is one of our primary goals," said Daniel Fisher, Sales Director for Modine Coatings Aftermarket.
  • "By teaming with Air Solutions Partners, we are empowering OEMs, installers and service contractors across Texas and Oklahoma to create increased value for their services by providing the best aftermarket coating solutions available on the market.

MODINE COATINGS PARTNERS WITH WRIGHT SALES TO EXPAND ACCESS TO LEADING HVAC AFTERMARKET OFFERINGS

Retrieved on: 
Tuesday, December 6, 2022
Water, Climate Solutions Caucus, Natural Resources, Partnership, Communication, HVAC, NYSE, Refrigeration, Original equipment manufacturer, Marketing, Engineering, Performance Technologies, Heating, ventilation, and air conditioning, Online shopping, Modine

RACINE, Wis., Dec. 6, 2022 /PRNewswire/ -- Modine Coatings, a division of Modine Manufacturing Company (NYSE: MOD) and a leader in corrosion-resistant coatings technology for the HVAC industry, is partnering with Wright Sales to expand access to the GulfCoat® Contractor Series product line and the Insitu® Spray Applied Coating Services.

Key Points: 
  • RACINE, Wis., Dec. 6, 2022 /PRNewswire/ -- Modine Coatings , a division of Modine Manufacturing Company (NYSE: MOD) and a leader in corrosion-resistant coatings technology for the HVAC industry, is partnering with Wright Sales to expand access to the GulfCoat Contractor Series product line and the InsituSpray Applied Coating Services.
  • The partnership will bring a dedicated focus to Modine Coating products and services for HVAC/R contractors to help maximize solutions in their respective markets.
  • "At Modine, we work to create the most innovative solutions for our customers to ensure our products meet their high standards for quality solutions," said Daniel Fisher, Sales Director for Modine Coatings Aftermarket.
  • Wright Sales demonstrates every day that by focusing on the major HVAC/R contractors, accelerates a product's market penetration and acceptance, and creates long-term manufacturer and distributor sales growth.

MODINE COATINGS PARTNERS WITH TARGET SALES TO INCREASE ACCESS TO AFTERMARKET OFFERINGS IN FLORIDA AND THE CARIBBEAN

Retrieved on: 
Tuesday, November 29, 2022
Marketing, HVACR, Performance Technologies, Refrigeration, Partnership, Natural Resources, Climate Solutions Caucus, HVAC, NYSE, Water, Engineering, Paint, Heating, ventilation, and air conditioning, Online shopping, Modine, Target

RACINE, Wis., Nov. 29, 2022 /PRNewswire/ -- Modine Coatings, a division of Modine Manufacturing Company (NYSE: MOD) and a leader in corrosion-resistant coatings technology for the HVAC industry, is partnering with Target Sales to expand access to the GulfCoat® Contractor Series product line and the Insitu® Spray Applied Coating Services.

Key Points: 
  • "Addressing and solving the needs of our customers has always been a number one priority at Modine," said Daniel Fisher, Sales Director for Modine Coatings Aftermarket.
  • "By partnering with Target Sales, we can expand our product reach and depth across Florida and the Caribbean.
  • Target Sales has an experienced sales team that provides hands-on training, product expertise and industry knowledge for customers across Florida and the Caribbean.
  • Founded in 1984, Target Sales prides itself on a knowledgeable sales staff willing and able to train and educate their clientele.

Modine Celebrates Opening of U.S. Chiller Plant Serving the Data Center Market

Retrieved on: 
Tuesday, November 8, 2022
Atmosphere, Industry, NYSE, Natural Resources, Heart, Engineering, Associate, Education, Government, Goal, Opportunity Fund, Water, Health, Performance Technologies, Efficiency, Climate Solutions Caucus, Solution, HVAC, Technology, McGinnis, CEO, Renewable energy, Modine

RACINE, Wis., Nov. 8, 2022 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, officially marked the launch of its new production facility in Rockbridge, Virginia, with a ribbon-cutting ceremony. The newly repurposed plant, previously a warehouse, will manufacture cooling solutions under the Airedale by Modine™ brand to capture opportunities in the growing data center industry. The ribbon cutting ceremony was attended by Modine employees and local government officials including Representative Ben Cline (VA-06), Lexington Mayor Frank Friedman, and representatives from the Rockbridge County Board of Supervisors and the Virginia Economic Development Partnership.

Key Points: 
  • The newly repurposed plant, previously a warehouse, will manufacture cooling solutions under the Airedale by Modine brand to capture opportunities in the growing data center industry.
  • Neil Brinker, Modine President and CEO; Eric McGinnis, President, Modine Climate Solutions; and Rockbridge Plant Manager Thomas Johnson hosted guests on a tour of the new facility and explained why it is ideally located to serve the U.S. data center market.
  • Virginia is the largest data center market in the world and Northern Virginia is home to more than 20% of all known hyperscale data centers worldwide.
  • "The demand for data is growing exponentially," said Brinker, "and the Rockbridge plant positions Modine to offer a full range of cooling solutions to serve North America customers in the growing data center market.

Modine Ships First OptiChill Chiller for North American Data Center Market

Retrieved on: 
Thursday, October 27, 2022
Climate Solutions Caucus, Growth, NYSE, Goal, Efficiency, Calendar, Water, Solution, Performance Technologies, Health, McGinnis, Technology, Education, HVAC, Atmosphere, Natural Resources, Renewable energy, Heating, ventilation, and air conditioning, Modine

RACINE, Wis., Oct. 27, 2022 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today announced that it has shipped its first chillers for the data center market from their newly repurposed production facility in Rockbridge, Virginia, as part of a previously announced order with data center giant, Corscale.

Key Points: 
  • "We have made a significant investment in our Rockbridge facility in order to bring world-class chillers to the North American data center market," said Eric McGinnis, President, Climate Solutions at Modine.
  • We have designed a chiller tailor made for critical data center environments, which we believe delivers market-leading free cooling performance."
  • Virginia is the largest data center market in the world and is home to more than 20 percent of all known hyperscale data centers worldwide.
  • "Data centers is a target growth market for Modine, and bringing this proven technology from the U.K. to the North American market is a key component to our growth objectives," continued McGinnis.

Modine Selected to Supply Thermal Management Solution for Shyft Group Blue Arc Commercial EV

Retrieved on: 
Wednesday, October 26, 2022
The Shyft Group, Element, Electronics, Transport, Natural Resources, NYSE, Blue Arc, Longevity, Program, Climate Solutions Caucus, Technology, Temperature, Goal, EVS, EV, Water, Safety, Performance Technologies, Heat, Solution, Engineering, Renewable energy, Rail transport, Modine

RACINE, Wis., Oct. 26, 2022 /PRNewswire/ -- As commercial fleet owners move to electric vehicles (EVs) to cut emissions, Modine Manufacturing Company (NYSE: MOD, "Modine"), a diversified global leader in thermal management technology and solutions, today announced working with leading specialty vehicle manufacturer The Shyft Group to deploy a custom EVantage™ Thermal Management System for Blue Arc™ EV Solutions Class 3 all-electric delivery vehicle. The Modine EVantage™ Solution for Shyft delivers an integrated system for battery thermal management, power electronics cooling, and passenger comfort.

Key Points: 
  • RACINE, Wis., Oct. 26, 2022 /PRNewswire/ --As commercial fleet owners move to electric vehicles (EVs) to cut emissions, Modine Manufacturing Company (NYSE: MOD, "Modine"), a diversified global leader in thermal management technology and solutions, today announced working with leading specialty vehicle manufacturer The Shyft Group to deploy a custom EVantage Thermal Management System for Blue Arc EV Solutions Class 3 all-electric delivery vehicle.
  • The Modine EVantage Solution for Shyft delivers an integrated system for battery thermal management, power electronics cooling, and passenger comfort.
  • Blue Arc's purpose-built commercial EV chassis from The Shyft Group meets the demanding needs of commercial fleet applications and duty cycles.
  • With the particular focus on the safety of the Blue Arc chassis, the Modine solution fits inside the vehicle frame rails with the other battery elements.