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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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.