Modine Manufacturing Co. Q1 Profit Increases, beats estimates

(RTTNews) - Modine Manufacturing Co. (MOD) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $44.8 million, or $0.85 per share. This compares with $14.3 million, or $0.27 per share, in last year's first quarter.

Excluding items, Modine Manufacturing Co. reported adjusted earnings of $0.85 per share for the period.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.0% to $622.4 million from $541.0 million last year.

Modine Manufacturing Co. earnings at a glance (GAAP) :

-Earnings (Q1): $44.8 Mln. vs. $14.3 Mln. last year. -EPS (Q1): $0.85 vs. $0.27 last year. -Analyst Estimate: $0.44 -Revenue (Q1): $622.4 Mln vs. $541.0 Mln last year.