In the Q1, Modine Manufacturing Co's corporate clients experienced a reduction by -3.61 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -4.48 %. During the corresponding time, Modine Manufacturing Co recorded a revenue increase by 28.09 % year on year, sequentially revenue fell by -8.54 %. While revenue at the Modine Manufacturing Co's corporate clients recorded rose by 9.86 % year on year, sequentially revenue grew by 9.01 %.
Customers of Modine Manufacturing Co saw their costs of revenue decrease by -3.61 % in Q1 compare to a year ago, sequentially costs of revenue were trimmed by -4.48 %, for the same period Modine Manufacturing Co recorded revenue increase by 28.09 % year on year, sequentially revenue fell by -8.54 %.
Modine Manufacturing Co's Comment on Sales, Marketing and Customers
Customers – Mechanical contractors; HVAC wholesalers; installers; and end
users in a variety of commercial and industrial applications, including banking
and finance, data center management, education, hospitality, telecommunications,
entertainment arenas, hotels, restaurants, hospitals, warehousing, manufacturing,
and food and beverage processing.
Customers – Construction, agricultural, and mining equipment and engine
manufacturers, and industrial manufacturers of material handling equipment,
generator sets and compressors.
Customers – Automobile, light truck, and power sports vehicle and engine
manufacturers.
Customers – Commercial, medium- and heavy-duty truck and engine manufacturers;
bus and specialty vehicle manufacturers.
Our ten largest customers, certain of which are conglomerates, accounted for
63 percent of our sales. These customers, listed alphabetically, were: BMW;
Caterpillar; Daimler AG (including Daimler Trucks, Mercedes- Benz, Mitsubishi
Fuso Trucks, Thomas Buses and Western Star Trucks); Deere & Company; Denso
Corporation; FCA Italy S.p.A. (including Chrysler, CNH, Fiat, Iveco, and VM
Motori); Ford Motor Co.; Navistar; Volkswagen AG (including Audi, MAN, Porsche,
and Scania); and Volvo. Daimler AG and Volkswagen AG each accounted for 10 percent
or more of our sales. Daimler AG was the only customer that accounted for 10
percent or more of our sales. Generally, we supply products to our customers
on the basis of individual purchase orders received from them. When it is in
the mutual interest of Modine and our customers, we utilize long-term sales
agreements to minimize investment risks and provide the customer with a proven
source of competitively-priced products. These contracts are typically three
to five years in duration and may include provisions that adjust sales prices
in the future.
Modine Manufacturing Co’s Comment on Sales, Marketing and Customers
Customers – Mechanical contractors; HVAC wholesalers; installers; and end
users in a variety of commercial and industrial applications, including banking
and finance, data center management, education, hospitality, telecommunications,
entertainment arenas, hotels, restaurants, hospitals, warehousing, manufacturing,
and food and beverage processing.
Customers – Construction, agricultural, and mining equipment and engine
manufacturers, and industrial manufacturers of material handling equipment,
generator sets and compressors.
Customers – Automobile, light truck, and power sports vehicle and engine
manufacturers.
Customers – Commercial, medium- and heavy-duty truck and engine manufacturers;
bus and specialty vehicle manufacturers.
Our ten largest customers, certain of which are conglomerates, accounted for
63 percent of our sales. These customers, listed alphabetically, were: BMW;
Caterpillar; Daimler AG (including Daimler Trucks, Mercedes- Benz, Mitsubishi
Fuso Trucks, Thomas Buses and Western Star Trucks); Deere & Company; Denso
Corporation; FCA Italy S.p.A. (including Chrysler, CNH, Fiat, Iveco, and VM
Motori); Ford Motor Co.; Navistar; Volkswagen AG (including Audi, MAN, Porsche,
and Scania); and Volvo. Daimler AG and Volkswagen AG each accounted for 10 percent
or more of our sales. Daimler AG was the only customer that accounted for 10
percent or more of our sales. Generally, we supply products to our customers
on the basis of individual purchase orders received from them. When it is in
the mutual interest of Modine and our customers, we utilize long-term sales
agreements to minimize investment risks and provide the customer with a proven
source of competitively-priced products. These contracts are typically three
to five years in duration and may include provisions that adjust sales prices
in the future.
Sources:
Modine Manufacturing Co’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Modine Manufacturing Co’s corporate clients.
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