Modine posts 2Q profit

Associated Press

Nov. 1, 2017

RACINE  Modine Manufacturing Co. (MOD) on Tuesday reported fiscal second-quarter net income of $15.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Racine-based company said it had profit of 31 cents. Earnings, adjusted for costs related to mergers and acquisitions and nonrecurring costs, came to 36 cents per share.

The heating and cooling products maker posted revenue of $508.3 million in the period.

Modine expects full-year earnings in the range of $1.30 to $1.45 per share.

Modine shares have risen 41 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.05, a climb of 92 percent in the last 12 months.