Modine Manufacturing Company: Will The Recovery in Heating, Ventilation, Air Conditioning and Refrigeration (HVAC&R) Market Positively Benefit Them?

Modine Manufacturing Company (Modine) reported upbeat performance for its fiscal 2024 with record sales and adjusted EBITDA being noted for the second consecutive year. Sales increased by 5% to reach $2.4 billion while adjusted EBITDA surged by 48% to $314 million; a significant margin improvement indicating the company’s effective commitment to its 80/20 principle. Modine successfully shifted its business to targeted markets with growth potential where its innovative solutions are well-regarded, leading to sustainable margins.