Modine Reports Second Quarter Fiscal 2020 Results
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Modine Manufacturing (MOD) Misses Q2 EPS by 12c, Revenues Miss; Revised FY20 EPS Guidance Below Consensus
November 7, 2019 4:53 PM ESTModine Manufacturing (NYSE: MOD) reported Q2 EPS of $0.13, $0.12 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $500.2 million versus the consensus estimate of $514.6 million.
Second Quarter Highlights:
Net sales of $500.2 million decreased 9 percent from the prior yearOperating income declined to $6.0 million and adjusted operating income to $20.2 millionLoss per share of $0.09 and adjusted earnings per share of $0.13Company adjusts outlook to reflect further weakening of market conditions\"Our second quarter results were well below our expectations as market conditions deteriorated more... More
