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Modine Manufacturing Company
Modine Manufacturing Company (MOD) investor relations material
Modine Manufacturing Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Feb, 2026
Executive summary
Announced spin-off of Performance Technologies (PT) segment via Reverse Morris Trust, to be combined with Gentherm, valuing PT at $1 billion and providing $210 million in cash plus 40% ownership in the new entity for shareholders; transaction expected to close by end of 2026.
Achieved 31% year-over-year sales growth in Q3 FY26, driven by strong demand in Climate Solutions, especially data centers and HVAC, and supported by recent acquisitions.
Transformation accelerates focus on high-margin, high-growth Climate Solutions, with six acquisitions and major capacity expansion for data centers.
Record order intake and robust demand in data centers, with growing visibility into future demand.
A $116.1 million non-cash pension termination charge led to a net loss for the quarter.
Financial highlights
Q3 FY26 net sales rose 31% year-over-year to $805.0 million, driven by Climate Solutions segment growth and acquisitions.
Adjusted EBITDA increased 37% to $119.6 million, with margin up 70 basis points to 14.9%.
Adjusted EPS grew 29% to $1.19, excluding a $116.1 million non-cash pension settlement loss.
Gross profit increased by $36.5 million to $186.1 million, but gross margin declined by 120 basis points to 23.1% due to temporary expansion costs.
Free cash flow was negative $47.4 million for the nine months ended December 31, 2025, mainly due to inventory build, higher CapEx, and pension funding.
Outlook and guidance
Fiscal 2026 net sales expected to grow 20%–25% to $3.10 billion–$3.23 billion.
Climate Solutions full-year sales outlook raised to 40%–45% growth, with data center sales to grow over 70% and exceed $2 billion by FY28.
Adjusted EBITDA guidance increased to $455 million–$475 million for fiscal 2026.
Expect to exit fiscal year at highest quarterly margin rate, with further improvement next year.
Management expects to remain in compliance with debt covenants and believes liquidity is sufficient for short- and long-term needs.
Data center margin recovery timeline
Plan to improve free cash flow and reduce debt
Expected benefits of Performance Tech spin-off
PT spin-off impact on Modine's M&A strategy?
What is Modine's LTA strategy for data center capacity?
Capacity for $3B data center sales by FY28?
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Resale registration for 71,429 shares via warrant, with proceeds only on exercise; financial risks persist.
Next Modine Manufacturing Company earnings date
Q4 202620 May, 2026
Modine Manufacturing Company
Next Modine Manufacturing Company earnings date
Q4 202620 May, 2026
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Frequently asked questions
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer vehicular applications. The company's Engine Cooling segment produces aluminum radiators and charge air coolers, which are used to cool the engine's coolant and intake air for on-highway heavy duty truck applications; radiators for medium duty truck applications; aluminum radiators, charge air coolers and oil coolers for various off-highway vehicular applications, including various agricultural, construction, military and industrial equipment; aftermarket aluminum radiators through direct sales to customers, as well as through radiator supply houses for a range of end market customers; and marine application products, such as keel coolers, raw water chillers, radiators and sea water pumps..
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