Modine Manufacturing (MOD) shares plummeted 14.63% during the intraday session, as investors reacted to the company's disappointing fiscal-year adjusted EBITDA guidance.
The company issued an outlook for fiscal-year adjusted EBITDA in the range of $650 million to $680 million, which fell short of the IBES consensus estimate of $664.8 million. The midpoint of the guidance range also came in below analyst expectations, triggering a sharp sell-off.
The weaker-than-expected profitability forecast overshadowed the company's strategic transformation in thermal management and data center cooling, leading to heavy profit-taking and a significant decline in the stock price.
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