On August 19, Modine Manufacturing fell 5.83% in regular trading, trading at $191.48/share with turnover of $48.11 million, extending the prior session's decline.
The stock continues to face selling pressure following the company's fiscal Q1 earnings released on July 29. Adjusted EBITDA came in at $106.5 million, approximately 12.4% below the market consensus estimate of $121.6 million. Revenue of $874.1 million also slightly missed analyst expectations of $877.6 million. While adjusted EPS of $1.53 beat estimates by 18.6%, the full-year adjusted EBITDA guidance of $650 million to $680 million signaled caution, with the lower bound falling below the consensus estimate of $664.8 million. Concerns over earnings quality have continued to weigh on the stock since the report.
Within the Building Products sector, Johnson Controls fell 1.39%, Trane Technologies fell 0.8%, while Fortune Brands Home & Security rose 4.08%, indicating mixed sector performance alongside company-specific weakness.
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