"These investments are allowing us to maintain a balanced portfolio of businesses with strong organic growth focus in data centers, supplemented with inorganic growth to expand product offerings and create scale in our other key Climate Solutions businesses."
— Neil Brinker
03Detailed Report
MOD
Modine Manufacturing Company
Period
Q1 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 21, 2026
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Executive Summary
Modine Manufacturing Company (MOD) reported a robust Q1 2026 with total revenue reaching $682.8 million, marking a year-on-year growth of 13.14%. This growth was driven largely by the Climate Solutions segment, which experienced an 11% increase in sales and was bolstered by recent strategic acquisitions including AbsolutAire and L.B. White. Management expressed confidence by raising their full-year revenue guidance to a growth of 10% to 15%, supported by a strong backlog and significant demand in the data center market. With a clear focus on integrating new acquisitions and enhancing manufacturing capacities, Modine is strategically positioned for long-term growth despite ongoing challenges in the Performance Technologies segment, which faced an 8% revenue decline due to adverse market conditions. Investors should monitor the continued execution of the growth strategy and the impact of these acquisitions on profitability and cash flow.
Key Performance Indicators
Revenue
Increasing
682.80M
QoQ: 10.70% | YoY: 13.14%
Gross Profit
Increasing
165.40M
24.22% margin
QoQ: 10.56% | YoY: 22.25%
Operating Income
Increasing
75.70M
QoQ: 27.66% | YoY: 26.80%
Net Income
Increasing
51.20M
QoQ: 24.88% | YoY: 98.45%
EPS
Increasing
0.95
QoQ: 25.00% | YoY: 93.88%
Revenue Trend
Margin Analysis
Financial Highlights
### Revenue Performance
- Total Revenue: $682.8 million, a year-over-year increase of 13.14% and a quarter-over-quarter increase of 10.70%.
- Climate Solutions Revenue Growth: Up by 11%, with contributions from recent acquisitions.
### Profitability Metrics
- Gross Profit: $165.4 million, gross profit margin at 24.2%.
- Operating Income: $75.7 million, with an operating income ratio of 11.1%.
- Net Income: $51.2 million, net income margin of 7.5%.
- EPS: $0.95, representing a year-over-year increase of 93.88%.
### Balance Sheet Health
- Total Assets: $2.23 billion
- Total Liabilities: $1.21 billion
- Total Stockholders' Equity: $1.02 billion
- Net Debt: $403 million, representing a manageable leverage ratio of 1.3.
### Cash Flow Performance
- Operating Cash Flow: $27.7 million, indicating a solid capacity to generate cash from core operations.
- Free Cash Flow: $27.7 million, lower than prior year due to increased inventory levels in preparation for data center projects.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
682.80M
13.14%
10.70%
Gross Profit
165.40M
22.25%
10.56%
Operating Income
75.70M
26.80%
27.66%
Net Income
51.20M
98.45%
24.88%
EPS
0.95
93.88%
25.00%
Key Financial Ratios
Management Insights Available for Members
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