05:31 AM EDT, 05/22/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Modine Manufacturing ( MOD ) shares slumped 9.4% in premarket activity on Wednesday after the company's sales fell more than forecast in fiscal Q4.

The company reported fiscal Q4 adjusted earnings late Tuesday of $0.77 per diluted share, up from $0.67 a year earlier.

Analysts polled by Capital IQ expected $0.76.

Net sales in the quarter ended March 31 fell to $603.5 million from $618.1 million a year earlier.

Analysts surveyed by Capital IQ expected $605.4 million.

In fiscal 2025, the company expects adjusted EPS of $3.55 to $3.85. Analysts polled by Capital IQ expect $3.81.

The company expects fiscal 2025 net sales to grow 5% to 10%. Analysts surveyed by Capital IQ expect revenue of $2.59 billion.

Price: 91.30, Change: -10.17, Percent Change: -10.02