10-Q · October 29, 2025
Modine reported quarterly revenue of $738.9M, up $80.9M (≈12.3%) versus the prior-year quarter driven by Climate Solutions. Gross profit was essentially flat at $164.9M (gross margin ≈22.3%) while operating income fell…
Earnings analysis · 10-K
MOD earnings analysis
Filed May 27, 2026 · Our reading of the company's report
The latest report
Modine Manufacturing Company reported substantial growth in net sales, reaching $3.18 billion for FY 2026, a 23% increase from the previous year, primarily driven by strong performance in the Climate Solutions segment,…
Read full summary
Modine Manufacturing Company reported substantial growth in net sales, reaching $3.18 billion for FY 2026, a 23% increase from the previous year, primarily driven by strong performance in the Climate Solutions segment, particularly data centers. The company has maintained solid operating income but faced margin pressure due to increased costs and operational inefficiencies during rapid expansion.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.26
- Segment
- Climate Solutions
- Segment
- Performance Technologies
What stood out
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Strong Revenue Growth
Net sales rose to $3,181 million in FY 2026, up 23% from $2,583 million in FY 2025.
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Data Center Expansion Drives Growth
Sales in the Climate Solutions segment jumped $621 million, or 43%, mainly due to increased demand for data center products.
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Successful Acquisitions
Modine completed acquisitions of three companies during FY 2026, contributing $119 million in incremental sales.
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Improved Cash Flow
Cash provided by operating activities increased to $249 million, up from $213 million in FY 2025.
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EPS Surprised to the Upside
Reported EPS for Q4 FY 2026 was $1.71, surpassing the estimate of $1.55 by 10.3%.
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Commitment to Growth
The company is focused on expanding its Data Centers business, entering a multi-billion dollar agreement to support growth.
What to watch
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Supply Chain Challenges
Supply shortages began impacting production schedules, particularly for data center products, affecting growth prospects.
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Pension Termination Charges
A one-time $116 million charge impacted net earnings due to the termination of the primary U.S. pension plan.
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Market Weakness in Performance Technologies
Sales in the Performance Technologies segment decreased by $31 million, or 3%, largely due to market weakness.
Management's outlook
For FY 2027, Modine expects net sales growth of 20%-35%, supporting strong future performance.
Earlier filings 4
10-Q · July 31, 2025
Modine reported Q1 (three months ended June 30, 2025) revenue of $682.8M, up $21.3M (3.2%) versus $661.5M a year ago, with gross profit $165.4M (24.2% gross margin) and operating income $75.7M (11.1% operating margin).…
10-Q · October 30, 2024
Modine reported quarterly net sales of $658.0 million and diluted EPS of $0.86 for the three months ended September 30, 2024. Revenue, gross profit and operating income all improved versus the prior-year quarter while…
10-K · May 22, 2024
Modine reports progress on its multi-year transformation: fiscal 2024 net sales were $2.4 billion (up 5% from $2.3 billion in fiscal 2023) and operating income rose to $241 million, an increase of $91 million versus the…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.