Modine Manufacturing Company (NYSE:MOD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 18.45%.
Modine Manufacturing Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 285.71% to $0.27 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Rose 7.25% to $375.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Modine Manufacturing Company reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.11. It beat the average revenue estimate of $345.27 million.
Quoting Management: “We are off to a strong start to fiscal 2014, with adjusted earnings per share of $0.27, a $0.20 improvement from the prior year,” said Modine President and Chief Executive Officer, Thomas A. Burke. “The increase in sales and the improvement in gross margin contributed to significantly higher operating earnings for the quarter.”
Key Stats (on next page)…
Revenue increased 4.51% from $359.6 million in the previous quarter. EPS increased 50% from $0.18 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.13 to a profit $0.10. For the current year, the average estimate has moved down from a profit of $0.62 to a profit of $0.52 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)