Modine reports Q3 adjusted EPS $1.19, consensus 99c

Reports Q3 revenue $805M, consensus $760.42M. “Modine (MOD) delivered another quarter of outstanding performance, with 21 percent organic sales growth driven by a 78 percent increase in data center sales,” said Modine President and CEO, Neil Brinker. “The capacity expansion for data center products remains on schedule, with new production lines contributing to a 31 percent sequential increase in sales compared to the second fiscal quarter. Margins in the Climate Solutions segment improved sequentially this quarter, as expected, and we remain confident that we are on pace for a strong fourth quarter as more production lines are commissioned to keep pace with the strong demand.”