An announcement from Modine (MOD) is now available.
Modine Manufacturing Company has restructured, moving its Coatings business into the Climate Solutions segment to synergize with its Heat Transfer Products line, which targets the same HVACR markets. This strategic shift, effective from April 1, 2024, aims to consolidate resources, drive targeted growth, and enhance profit margins and cash flow by applying 80/20 principles. Financial results under this new arrangement will be reported in the first quarter of fiscal 2025, aligning with the Company’s operational performance and capital allocation assessment by its chief decision-maker. This realignment doesn’t affect past financial statements but offers investors a revised historical segment performance that complies with non-GAAP measures for a clearer understanding of the Company’s profitability.
For an in-depth examination of MOD stock, go to TipRanks’ Stock Analysis page.
