Modine Manufacturing Co (MOD) Misses Q2 EPS by 5c; Announces Growth Initiatives, Buyback Plan
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October 29, 2015 5:20 PM EDT
RACINE, Wis., Oct. 29, 2015 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD) today reported results for the second quarter of fiscal year 2016.
Highlights
Net sales declined 2.3 percent on a constant currency basis
Adjusted operating income was $8.1 million and adjusted earnings per share were $0.04
Results reflect a non-cash charge of $39.2 million related to a voluntary pension lump sum payout
Reiterates full year earnings guidance
Announces new Strengthen, Diversify & Grow strategic transformation
Board...
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October 29, 2015 5:20 PM EDT
RACINE, Wis., Oct. 29, 2015 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today announced its new strategic platform for the future. This platform is based on commitments to strengthen, diversify and grow the business, ultimately elevating Modine's long-term financial performance and enhancing shareholder value. The Company also announced that its Board of Directors has authorized the repurchase of up to $50 million of its common stock over the next... More
