Modine: Well Prepared For Any Cycle
Darspal S Mann
Darspal S Mann
Thu, May 26, 12:00 PM
Wed, May 25, 5:07 PM
Tue, May 24, 5:35 PM
Thu, Mar. 24, 12:58 PM
- Modine Manufacturing (MOD +6.7%) is upgraded to Buy from Neutral with a $12 price target at Seaport Global Securities.
- The firm says much of its optimism revolves around MOD's SDG program, which targets 7%-8% operating margins by the end of FY 2018 vs. 4%-5% in prior years (FY 2017 begins next week) and $100M of acquired revenue intended to diversify away from core vehicular markets, among other goals.
- Seaport sees several paths for MOD to beat its new expectations, even if end markets deteriorate, and the valuation does not need to match the peer group for substantial upside in the share price.
Tue, Feb. 2, 4:21 PM
- Modine Manufacturing (NYSE:MOD): FQ3 EPS of $0.22 misses by $0.03.
- Revenue of $328.7M (-9.6% Y/Y) misses by $20.05M.
Mon, Feb. 1, 5:35 PM
Wed, Jan. 13, 12:44 PM
- Auto parts stocks are sliding with a number of companies issuing guidance below expectations. Some of the soft reads are being delivered at the Deutsche Bank 2015 Global Auto Industry Conference in progress.
- Anxiety has increased over the last week that the U.S. auto market may be at a volume peak.
- Decliners include American Axle & Manufacturing (AXL -15%), Tower International (TOWR -7%), Tenneco (TEN -6.8%), Modine Manufacturing (MOD -4.9%), Lear Corp. (LEA -3.7%), and Visteon (VC -3.8%).
Tue, Jan. 5, 11:31 AM
- Many auto parts stocks are trailing off after key manufacturers (Ford, GM, Toyota, Fit Chrysler) miss forecasts with their December U.S. sales reports. The sector bounced last month when the rosy predictions first started piling in.
- Weakness in China this week may be impacting sentiment on certain auto parts names as well.
- Decliners include Modine Manufacturing (MOD -4.9%), Federal-Mogul (FDML -5.1%), Stoneridge (SRI -3.8%), American Axle & Manufacturing (AXL -3.1%), Delphi Automotive (DLPH -2.3%), Autoliv (ALV -2.3%), Meritor (MTOR -3.4%), Gentherm (THRM -2.3%), BorgWarner (BWA -1.8%), and Lear (LEA -2%).
Oct. 31, 2015, 12:51 PM
- The European Automobile Manufacturers Association issued a statement this week in which it forecasts that a "substantial number" of diesel models will have to be phased out earlier than anticipated.
- The harsh assessment was mirrored by several heavyweight CEOs at the Tokyo Motor Show. The major focus of the event has been next-gen concepts like hydrogen-powered cars and self-driving features, while execs such as Nissan's Carlos Ghosn have marginalized the future of diesel.
- Many automobile industry insiders have noted that diesel was in decline due to the focus on emissions even before Volkswagen (OTCQX:VLKAY) rocked the industry with a cheating scandal.
- The mix of technology, EV, hydrogen, and powertrain changes have kept analysts buzzing over the proper valuations to assign to major players. A reset of demand expectations in China also factors in significantly.
- Automobile industry stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT, GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, THRM, BWA, JCI, TEN, CPS, LDL, TOWR, OTCPK:PEUGF, OTC:RNSDF, OTCPK:RNLSY.
- Previously: Hydrogen and self-driving cars the talk at the Toyota Motor Show (Oct. 29)
Oct. 29, 2015, 5:21 PM
- Modine Manufacturing (NYSE:MOD): FQ2 EPS of $0.04 misses by $0.05.
- Revenue of $334M (-11.5% Y/Y) misses by $11.91M.
Oct. 28, 2015, 5:35 PM
- ARAY, ARI, ATEN, ATR, AUY, AXTI, AZPN, BCOR, BCOV, BGG, BIDU, BMRN, BVN, BXP, CALX, CATM, CENX, CLW, COLM, CPSI, CPT, CRAY, CTRL, CXP, DCT, DECK, DGI, DGII, DLR, EA, ECOL, EHTH, EMN, EPAY, ESS, EXPE, EXTR, EYES, FE, FLDM, FLR, FLS, FRGI, FSLR, FWM, GB, GNW, HWAY, IM, IMMR, IMPV, ISBC, IXYS, KAMN, KRG, LC, LEG, LNKD, LSCC, MEP, MOBL, MOD, MOH, MTSN, MXWL, NANO, NBIX, NR, NSR, NUS, OIS, OMCL, ON, OSIS, OUTR, PCCC, PDFS, PRMW, PSMT, QTM, RGA, RKUS, RSG, SAAS, SAM, SBUX, SCTY, SEM, SGEN, SHO, TMST, TNAV, TNDM, TRMB, TSRO, TSYS, TUES, VR, WRI, WU, WWWW, YRCW
Oct. 1, 2015, 3:39 PM
- U.S. auto sales sizzled in September as the combination of low gas prices and subdued auto loan rates motivated consumers to make a move. The monthly tally was influence a bit by an extra selling day and a comparison to last year when part of the Labor Day weekend was in August.
- The Detroit Three led the way with strong sales volume and solid pricing in a development that takes some of the sting off the Volkswagen scandal which rocked the sector.
- The industry-wide run rate for the month is estimated to be 18.7M annual sale to match the highest level of activity since 2005.
- Fiat Chrysler Automobiles (FCAU +1.9%) is the only major automaker putting in a strong gain on the day, although most automaker stocks are ahead of the DJIA.
- A large number of auto parts stocks are also beating market averages on enthusiasm over the strong numbers. Lydall (NYSE:LDL), Delphi Automotive (NYSE:DLPH), Modine Manufacturing (NYSE:MOD), and Tenneco (NYSE:TEN) are leading the mini-charge.
Sep. 22, 2015, 10:16 AM
- The automobile parts sector is down again to follow a rout of European automaker stocks earlier in the day led by the dismantling of shares of scandal-ridden Volkswagen.
- Losing business from Volkswagen is one concern, but a broader issue could be tighter emissions testing and compliance protocols in the industry.
- Decliners include Tenneco (TEN -7.5%), Delphi Automotive (DLPH -4.3%), Allison Transmission Holdings (ALSN -4%), Federal-Mogul Holdings (FDML -4.4%), Lear (LEA -3.3%), Meritor (MTOR -3.8%), Dana Holding (DAN -3.7%), Autoliv (ALV -3.4%), Modine Manufacturing (MOD -2.8%), Standard Motor Products (SMP -2.3%), Stoneridge (SRI -3.6%), American Axle & Manufacturing (AXL -2.5%), and Johnson Controls (JCI -2.3%).
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
Jul. 31, 2015, 10:16 AM
- Modine Manufacturing (NYSE:MOD) reports sales fell 12% due to negative currency impact (-2% on a constant currency basis).
- Gross margin rate decreased 70 bps to 16.5%.
- Segment sales: America: $159.1M (-10%); Europe: $131.2M (-17%); Asia: $19.3M (-7%); Building HVAC: $41.3M (+1%).
- Adjusted operating margin rate declined 220 bps to 4.1%.
- FY2016 Guidance: Sales: flat to -5% (+1% to +6% on a constant currency basis); Adjusted operating income: $65M to $70M; Adjusted EPS: $0.75 to $0.82.
- FQ1 results
Jul. 31, 2015, 8:05 AM
- Modine Manufacturing (NYSE:MOD): FQ1 EPS of $0.14 misses by $0.12.
- Revenue of $346.1M (-11.8% Y/Y) misses by $27M.
Jul. 30, 2015, 5:30 PM
Modine Manufacturing Co. develops and manufactures thermal management components and systems. The company engages in providing heating and cooling technology and solutions to diversified global markets. It manufactures and markets heat exchangers and systems for use in on-highway and off-highway... More
Sector: Consumer Goods
Industry: Auto Parts
Country: United States
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