Modine Q3 sales up 21%

USA: US manufacturer Modine has reported a Q3 sales increase of 21% to $578.8m compared to the same period in 2021.

Operating income was up 250% at $36.8m, while adjusted EBITDA rose 73% to $51.1m.

The sales increase was reportedly driven by market-related volume improvements and favourable pricing adjustments in both Modine’s Climate Solutions and Performance Technologies segments. 

“Our results this quarter clearly demonstrate that our strategic initiatives are beginning to unlock the value in Modine,” commented president and CEO Neil D Brinker.