Reports Q3 revenue $561.4M, consensus $594.92M. “Our strong Q3 earnings growth demonstrates the ongoing power of our cultural transformation and 80/20 initiatives,” said CEO Neil Brinker. “We are experiencing rapid sales growth to the data center market, supported by robust demand from both hyperscale and colocation customers. We also are pleased with the progress in Performance Technologies, where 80/20 actions are generating significant benefits. The targeted growth and 80/20 improvements are resulting in substantial margin increases, with adjusted EBITDA margin up 370 basis points in the quarter.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MOD:
- Modine Reports Third Quarter Fiscal 2024 Results, Raises Full-Year Earnings Guidance
- Modine Manufacturing sales runway unlocked by strong demand, says DA Davidson
- Modine Manufacturing price target raised to $80 from $60 at B. Riley
- Modine Manufacturing, Bosch Rexroth partner on thermal management
- Modine Manufacturing purchases IP, specific assets of TMG Core
