Modine Manufacturing Q3 Adj EPS $0.74 Beats $0.59 Estimate, Sales $561.40M Miss $594.92M Estimate
Portfolio Pulse from mahesh@benzinga.com
Modine Manufacturing (NYSE:MOD) reported Q3 adjusted EPS of $0.74, surpassing the $0.59 estimate by 25.42%, and marking a 54.17% increase from last year's $0.48. However, sales of $561.40M fell short of the $594.92M estimate by 5.63%, though they were slightly up by 0.25% from the previous year.
January 30, 2024 | 9:27 pm
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NEUTRAL IMPACT
Modine Manufacturing's Q3 earnings beat estimates with a significant increase in EPS, but sales missed expectations, showing a marginal year-over-year growth.
The positive earnings surprise could lead to a short-term positive sentiment, as the EPS beat is substantial. However, the miss on sales estimates and minimal sales growth year-over-year could temper investor enthusiasm, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100