The 10-second takeaway
For the quarter ended Dec. 31 (Q3), Modine Manufacturing missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Margins shrank across the board.
Modine Manufacturing chalked up revenue of $326.1 million. The three analysts polled by S&P Capital IQ predicted sales of $337.9 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $373.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.02. The three earnings estimates compiled by S&P Capital IQ forecast $0.08 per share. GAAP EPS were -$0.19 for Q3 compared to $0.18 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 14.8%, 130 basis points worse than the prior-year quarter. Operating margin was 1.8%, 270 basis points worse than the prior-year quarter. Net margin was -2.7%, 490 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $364.5 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $1.39 billion. The average EPS estimate is $0.43.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 78 members out of 94 rating the stock outperform, and 16 members rating it underperform. Among 30 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 25 give Modine Manufacturing a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Modine Manufacturing is hold, with an average price target of $8.00.
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