Modine Manufacturing Co. (MOD) announced its third-quarter financial results, showing a decline in profit compared to the previous year, though the figures surpassed Wall Street expectations.
The net income for the company amounted to $41 million, or $0.76 per share, a decrease from last year's $44.4 million, or $0.83 per share.
On an adjusted basis, excluding one-time items, Modine Manufacturing reported earnings of $0.92 per share for the quarter.
Market analysts had predicted earnings of $0.79 per share, not accounting for special items typically.
Revenue for the quarter increased by 9.9%, reaching $616.8 million, up from $561.4 million during the same period last year.
Summary of Modine Manufacturing Co.'s Earnings (GAAP):
- Net Income: $41.0 million compared to $44.4 million the previous year.
- Earnings Per Share (EPS): $0.76 versus $0.83 last year.
- Revenue: $616.8 million compared to $561.4 million last year.
