Modine Reports Second Quarter Fiscal 2027 Results
Key Highlights
- ➤Net sales $994.4 million, up 35% year over year
- ➤Adjusted EPS $1.35, up 27% year over year
- ➤Data Centers sales $439.7 million, up 95% year over year
- ➤Performance Technologies spin-off completed October 1
- ➤Fiscal 2027 continuing-business revenue outlook $3.1 to $3.2 billion
Expert Statements
Neil D. Brinker, President and Chief Executive Officer of Modine
“Data Centers and Commercial HVAC delivered strong quarters, with revenue growth of 95% and 23%, respectively,”
Neil D. Brinker, President and Chief Executive Officer of Modine
“Demand for our products remains very robust, highlighted by record orders and backlog in our Data Centers segment and expanding opportunities to serve the data center cooling market within Commercial HVAC.”
Neil D. Brinker, President and Chief Executive Officer of Modine
“We have bolstered our supply chain by entering into long-term agreements with multiple strategic suppliers to secure critical components to meet our existing backlog and future business needs.”
Neil D. Brinker, President and Chief Executive Officer of Modine
“We are confident in our higher revenue outlook for our core business following the successful spin-off of Performance Technologies and remain well-equipped to drive long-term sustainable growth.”
Neil D. Brinker, President and Chief Executive Officer of Modine
“Starting in the third fiscal quarter, the historical results for Performance Technologies will be reported as discontinued operations, and we have revised our continuing outlook accordingly.”
Neil D. Brinker, President and Chief Executive Officer of Modine
“We expect revenues to increase 50 to 55 percent from the prior year, excluding Performance Technologies from both periods.”
Neil D. Brinker, President and Chief Executive Officer of Modine
“Additionally, we expect full-year adjusted EBITDA for our continuing business to be $470 to $500 million, representing a growth rate in excess of 50 percent from the prior year, excluding Performance Technologies from both periods.”
Neil D. Brinker, President and Chief Executive Officer of Modine
“In addition, I am looking forward to sharing our longer term revenue and earnings targets during our upcoming Analyst and Investor Day on November 18.”
Modine Reports Second Quarter Fiscal 2027 Results PR Newswire
Strong growth in Data Centers and Commercial HVAC segments supports higher full-year revenue outlook for core business following the spin-off of Performance Technologies
Get started
Create a free account to read the full story.