Modine posts 35% Q2 sales rise, lifts FY27 revenue outlook after Performance Technologies spin‑off
Modine Manufacturing reported second‑quarter fiscal 2027 net sales of $994.4 million, up 35% year over year, driven by a 95% jump in Data Center sales and a 23% increase in Commercial HVAC sales. Net earnings fell 32% to $30.3 million because of tax charges linked to the spin‑off of its Performance Technologies business, while adjusted earnings per share rose 27% to $1.35. The company completed the spin‑off on October 1 and raised its full‑year revenue guidance to $3.10‑$3.20 billion for the core businesses.
Why it matters
The higher revenue outlook expands the growth runway for Modine’s core segments, but the lower net earnings and margin pressure signal near‑term profitability challenges. Investors should note the revised FY27 revenue range of $3.10‑$3.20 billion as the new baseline for valuation models.
Key facts
- 1Net sales were $994.4 million, a 35% increase from the prior year. prnewswire.com
- 2Net earnings were $30.3 million, down 32% from the prior year, including $29.5 million of income tax expense tied to the legal‑entity restructuring for the Performance Technologies spin‑off. prnewswire.com
- 3Adjusted earnings per share were $1.35, up $0.29, or 27%, from the prior year. prnewswire.com
- 4Data Center segment sales were $439.7 million, a 95% increase year over year. prnewswire.com
- 5Commercial HVAC segment sales were $285.5 million, a 23% increase year over year. prnewswire.com
- 6Full‑year FY27 revenue guidance for the core business was raised to $3.10‑$3.20 billion. finance.yahoo.com
Summary written by AlphAI AI Desk from 15 of 15 sources. Not investment advice. Figures are as stated by the linked sources.