Modine reports 35 percent revenue growth in fiscal second quarter
Thermal management firm Modine posted $994.4 million in quarterly revenue, driven by expansion in data center and HVAC cooling sectors.
Modine reported revenue of $994.4 million for the second quarter of fiscal 2027, marking a 35 percent increase compared to the same period last year. Net earnings fell to $30.3 million, largely due to $29.5 million in tax expenses associated with the restructuring and spin-off of its Performance Technologies business unit.
The company’s performance was buoyed by its Data Centers segment, which saw revenue surge 95 percent to $439.7 million due to strong demand from hyperscale customers in North America. Simultaneously, the Commercial HVAC segment grew 23 percent to $285.5 million, supported by higher sales of ventilation and coating products.
CEO Neil D. Brinker noted that the company has secured long-term agreements with suppliers to mitigate component shortages and address the growing order backlog. Following the October 1 spin-off of the Performance Technologies unit, Modine has revised its revenue outlook upward for its core operations for the remainder of the fiscal year.