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Modine Manufacturing Company
Modine Manufacturing Company (MOD) investor relations material
Modine Manufacturing Company Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary29 Oct, 2025
Executive summary
Net sales rose 12% year-over-year to $738.9 million in Q2 FY2026, driven by strong growth in Climate Solutions and recent acquisitions, while Performance Technologies sales declined.
Adjusted EBITDA increased 4% to $103.8 million with a 14.0% margin, and adjusted EPS grew 9% to $1.06.
Net earnings declined 3% to $44.8 million, impacted by a $4.1 million impairment charge and restructuring costs.
Major investments and facility launches accelerated U.S. and global manufacturing capacity, especially for data center products.
Three acquisitions (AbsolutAire, L.B. White, Climate by Design International) were integrated into Climate Solutions, broadening product offerings.
Financial highlights
Q2 FY2026 net sales reached $738.9 million, up from $658.0 million year-over-year.
Gross margin declined 290 basis points to 22.3%, mainly due to expansion costs and higher raw material prices.
Operating income was $73.5 million, down $1.8 million due to a $4.1 million impairment charge.
Free cash flow for the first six months was negative $30.3 million, reflecting inventory builds and capital expenditures for data center growth.
Net debt increased by $219 million year-over-year, mainly due to acquisitions and capex.
Outlook and guidance
Fiscal 2026 net sales growth outlook raised to 15–20%, or $2.97–$3.10 billion.
Climate Solutions full-year sales outlook raised to 35–40% growth; data center sales expected to grow over 60% year-over-year.
Adjusted EBITDA guidance reaffirmed at $440–$470 million.
Free cash flow for the year expected at 2.5–3% of sales, with normalization anticipated in fiscal 2027.
Anticipates $120–$125 million in non-cash settlement charges in H2 FY2026 due to U.S. pension plan termination.
Data center expansion impact on margins?
Plan to improve free cash flow and reduce net debt?
Impact of H2 FY26 pension settlement charge?
What drives Q4 data center margin normalization?
PT end market demand outlook next 12 months
Data center market share target by FY28?
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Next Modine Manufacturing Company earnings date
Q3 20265 Feb, 2026
Modine Manufacturing Company
Next Modine Manufacturing Company earnings date
Q3 20265 Feb, 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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