Modine Manufacturing reports Q1 adjusted EPS $1.04, consensus 86c

Reports Q1 revenue $661.5M, consensus $633.63M. “Our Q1 results were among the best in the company’s history, clearly benefiting from our actions to transform Modine and drive sustainable earnings growth and margin improvement,” said CEO Neil Brinker. “The steps we’ve taken to both diversify and improve our business portfolio are producing significant benefits, as revenue growth in data centers and other key markets are more than offsetting the impact of market declines or exits in select other parts of the business. We continue to identify and execute incremental opportunities to apply 80/20 principles throughout the organization to improve our sales mix and produce earnings and margin improvements.”