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Modine Manufacturing plummets to three-year low

|About: Modine Manufacturing Company (MOD)|By:, SA News Editor

Modine Manufacturing (MOD -38%) sinks after Q3 results disappoint and guidance is set lower.

"While we did see double-digit top-line growth in our BHVAC business, our VTS and CIS segments both experienced larger than expected declines in customer orders that will negatively impact our revenues and earnings in H2 of the year," warns Modine CEO Thomas Burke.

Modine expects full-year EPS of $0.75 to $0.90 vs. a prior view for $1.35 to $1.50 and $1.31 consensus.

On Wall Street, Dougherty cut its rating on Modine to Neutral from Buy.

Previously: Modine Manufacturing EPS misses by $0.12, misses on revenue (Nov. 7)

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