On August 5, Modine Manufacturing rose 5.15% in regular trading, trading at $206.22/share, with turnover of $159 million. The stock continues its post-earnings recovery driven by a strong Q1 profit beat and institutional support.
Modine Manufacturing reported fiscal Q1 adjusted EPS of $1.53, surpassing the consensus estimate of $1.29 by 18.6% and representing a 44.3% year-over-year increase. Revenue came in at $874.1 million, slightly below the $877.6 million estimate. The company issued full-year adjusted EBITDA guidance of $650 million to $680 million, largely in line with the market consensus of $664.8 million. Following the earnings release, B. Riley adjusted its price target from $340 to $305 while maintaining a Buy rating. The stock had declined over 15% in the weeks leading up to the earnings report, and the strong profit beat has triggered a sustained recovery in share price.
Notably, Modine previously announced a landmark $4 billion long-term agreement with a strategic data center customer to supply Airedale cooling solutions between 2027 and 2029, which included a $165 million upfront payment to support capacity expansion.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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