Modine Manufacturing reported first-quarter fiscal 2027 results with net sales of $874.1 million and net earnings of $74.3 million for the quarter ended June 30, 2026. Adjusted EBITDA was $106.5 million and adjusted diluted earnings per share was $1.53. The company reaffirmed its full-year fiscal 2027 guidance of net sales growth of 20%–35% and adjusted EBITDA of $650M–$680M.
Financial Highlights
- Net sales: $874.1 million for the quarter ended June 30, 2026 (up 28% from prior year).
- Gross profit: $182.0 million; gross margin 20.8% for the quarter.
- Operating income: $74.8 million for the quarter.
- Net earnings: $74.3 million for the quarter.
- Adjusted diluted earnings per share: $1.53; Adjusted EBITDA: $106.5 million.
Business Highlights
- Data Centers segment expanded materially: sales rose ~90% to $348.6 million, driven by higher sales to hyperscale customers in North America; capacity expansion and supply chain constraints temporarily weighed on margins and production efficiency.
- Commercial HVAC segment sales increased 22% to $261.6 million, aided by higher coil sales to data center customers and $19.7 million of incremental sales from recent acquisitions.
- Performance Technologies sales were $277.8 million, down 3% year-over-year due to softer automotive and commercial vehicle markets, with higher sales to power generation customers.
- Operational actions underway to address Data Centers supply bottlenecks, including securing partner volume commitments and qualifying additional suppliers; sequential volume and margin improvements noted during the quarter.
- Progressing on strategic transformation: pending spin-off and merger of Performance Technologies with Gentherm remains on schedule to close in the fourth calendar quarter of 2026.
Original SEC Filing:
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