Modine Manufacturing ( (MOD) ) has released its Q2 earnings. Here is a breakdown of the information Modine Manufacturing presented to its investors.
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Modine Manufacturing, a global leader in thermal management technology, operates in the Climate Solutions and Performance Technologies sectors, focusing on heating, cooling, and ventilation solutions to improve air quality and reduce energy consumption.
In its latest earnings report for the second quarter of fiscal 2026, Modine Manufacturing announced a 12% increase in net sales, reaching $738.9 million, driven by strong organic growth in the Climate Solutions segment and strategic acquisitions. However, net earnings saw a slight decline of 3% to $44.8 million compared to the previous year.
Key financial highlights include an adjusted EBITDA increase of 4% to $103.8 million and a 9% rise in adjusted earnings per share to $1.06. The Climate Solutions segment experienced a significant 24% sales increase, bolstered by a 42% rise in data center sales. Conversely, the Performance Technologies segment faced a 4% sales decline due to weaker demand in On-Highway Applications.
Looking ahead, Modine has raised its full-year revenue guidance, anticipating net sales growth of 15% to 20% and adjusted EBITDA between $440 million and $470 million. The company remains focused on expanding its manufacturing capacity to meet the growing demand for data center solutions, which is expected to drive further revenue and margin improvements in the coming quarters.