Call Start: 11:00 January 1, 0000 11:39 AM ET
Modine Manufacturing Company (NYSE:MOD)
Q3 2023 Earnings Conference Call
February 2, 2023 11:00 ET
Company Participants
Kathy Powers - Vice President of Treasury & Investor Relations
Neil Brinker - President & Chief Executive Officer
Mick Lucareli - Executive Vice President & Chief Financial Officer
Conference Call Participants
Stefanos Crist - CJS Securities
Brian Sponheimer - Gabelli & Company
Steve Ferazani - Sidoti & Company
Tim Moore - EF Hutton
Operator
Good morning ladies and gentlemen and welcome to the Modine Manufacturing Company's Third Quarter Fiscal 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the conference over to your host, Ms. Kathy Powers, Vice President, Treasurer and Investor Relations. Please go ahead.
Kathy Powers
Good morning and thank you for joining our conference call to discuss Modine's third quarter fiscal 2023 results. I'm joined on this call by Neil Brinker, our President and Chief Executive Officer; and Mick Lucareli, our Executive Vice President and Chief Financial Officer. We will be using slides for today's presentation which can be accessed either through the webcast link or by accessing the PDF file posted on the Investor Relations section of our website, modine.com.
On Slide 3 is our notice regarding forward-looking statements. This call will contain forward-looking statements as outlined in our earnings release as well as in our company's filings with the Securities and Exchange Commission.
With that, it is my pleasure to turn the call over to Neil.
Neil Brinker
Thank you, Kathy and good morning, everyone. I'm pleased to announce another strong quarter with sales up 12% and adjusted EBITDA up 36% from the prior year. Mick will go through our financial results in more detail. But before that, I would like to provide an update on our transformation, focusing specifically on our 80/20 activities as we make progress towards our strategic goals.
It was actually on this call 2 years ago, my first with a company that we began outlining our vision for the new Modine and the role that 80/20 would play. The initial steps were to simplify and segment the organization and align the teams around specific strategies for each market vertical. Once those steps were complete, our leaders began creating a high-performance culture driven by prioritizing and focusing our resources on our best returning opportunities. All of these activities were done in preparation for driving focused and sustainable growth.