Thursday, May 28, 2020 5:11 PM EST
By The Associated Press
RACINE, Wis. (AP) _ Modine Manufacturing Co. (MOD) on Thursday reported a fiscal fourth-quarter loss of $6.7 million, after reporting a profit in the same period a year earlier.
The Racine, Wisconsin-based company said it had a loss of 13 cents per share. Earnings, adjusted for asset impairment costs and pretax expenses, came to 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The heating and cooling products maker posted revenue of $472.9 million in the period.
For the year, the company reported a loss of $2.2 million, or 4 cents per share, swinging to a loss in the period. Revenue was reported as $1.98 billion.
Modine shares have decreased 34% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.08, a drop of 62% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MOD at https://www.zacks.com/ap/MOD