Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Q2 2027 Earnings Presentation
21 slides from Modine Manufacturing's earnings presentation, Nov 4, 2026
Slide 1: Second Quarter Fiscal 2027
Second Quarter Fiscal 2027 November 4, 2026
Slide 2: Presenters
NEIL BRINKER President and Chief Executive Officer MICK LUCARELI Executive Vice President and Chief Financial Officer KATHY POWERS Vice President, Treasurer, and Investor Relations 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements, including information about future financial performance and market conditions, accompanied by phrases such as “believes,” “estimates,” “expects,” “plans,” “anticipates,” “intends,” “projects,” and other similar “forward-looking” stat
Slide 4: Data Centers
Data Centers ▪ Delivered 95 percent revenue growth, with a fourth consecutive quarter of record orders, exceeding $1 billion in quarterly order intake ▪ Received $400M program award with strategic hyperscale customer ▪ Launched production at a third dedicated data center facility in Calgary to suppo
Slide 5: Commercial HVAC
Commercial HVAC ▪ Delivered 23 percent revenue growth year-over-year ▪ Continued growth in coils from data center customers ▪ Evaluating and quoting additional opportunities to support data center customers as a tier two coil supplier ▪ Benefited from strong pull-through demand for anti-corrosive co
Slide 6: Performance Technologies
Performance Technologies ▪ Successfully completed the spin-off of the Performance Technologies business and merger with Gentherm on October 1st ▪ Initial phases of the transition are going smoothly ▪ Gentherm has been an outstanding partner and will provide a fantastic home for this business ▪ Reque
Slide 7: Data Centers
Data Centers (In millions) Net Sales $439.7 Exceptional Rate of Revenue Growth – 95% 132% Americas Strong growth from hyperscale customers across $225.0 Chillers, AHU and Indoor products -6% EMEA Lower Chillers sales primarily due to the timing of shipments, expect a significant increase in 2H27 Q2
Slide 8: Commercial HVAC (CHVAC)
Commercial HVAC (CHVAC) (In millions) Net Sales $285.5 Strong Rate of Revenue Growth – 23%, Outpacing the Market $232.9 20% HVAC Technologies A recovery in heating and a rebound in Commercial Chillers & Ventilation 16% Heat Transfer Solutions Growth primarily driven by higher demand for coils and co
Slide 9: Performance Technologies
Performance Technologies (In millions) Net Sales 11% Heavy-Duty Equipment Primarily driven by higher GenSet $286.3 $287.7 revenue, partially offset by lower sales to Off-Highway agricultural customers -5% On-Highway Applications Lower sales to automotive customers, partially offset by higher commerc
Slide 10: Financial Review
Financial Review (In millions) Net Sales Adjusted EBITDA & (In millions) Q2 FY26 Q2 FY27 $994.4 EBITDA Margin* $136.2 Net Sales $738.9 $994.4 $738.9 $103.8 Gross Profit 164.9 205.4 14.0% 13.7% % of net sales 22.3% 20.7% SG&A expenses 84.2 104.6 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 % of net sales 11.4% 10
Slide 11: Cash Flow and Metrics
Cash Flow and Metrics Cash Flow and Metrics Q2 FY27 YTD Free Cash Flow ($146 million) Net Debt (as of September 30) $574 million Leverage Ratio (as of September 30) 1.1x Capital Expenditures $89 million Modine Maintains Strong Balance Sheet & Liquidity ▪ Free cash flow reflects deployment of working
Slide 12: Fiscal 2027 Outlook Excluding Performance Technologies Business
Fiscal 2027 Outlook Excluding Performance Technologies Business Metrics Guidance Comments FY27 Segment Sales Outlook Net Sales $3.1B to $3.2B +50% to +55% Data Centers +80% to +90% Adjusted EBITDA* $470M to $500M Growth in excess of 50% Commercial HVAC +10% to +15% Raising our Revenue Outlook ▪ Modi
Slide 13: Appendix
MODINE Appendix
Slide 14: GAAP Income Statement
GAAP Income Statement Modine Manufacturing Company Consolidated statements of operations (unaudited) (In millions, except per share amounts) Three months ended September 30, Six months ended September 30, 2026 2025 2026 2025 Net sales $s 9944 § 7389 $ 1,868.5 S$ 1,421.7 Cost of sales 789.0 574.0 1,4
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations* * See the footnotes on slide 16 for additional information regarding these . 15
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations 16
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) See the adjusted financial results on slide 15 and related footnotes on slide 16 for additional information regarding these adjustments. 17
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations 18
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations 19
Slide 20: Recast Financial Information
Recast Financial Information 20
Slide 21: Forward-Looking Non-GAAP Financial Measures
Forward-Looking Non-GAAP Financial Measures The Company’s fiscal 2027 guidance includes adjusted EBITDA and free cash flow, which are non-GAAP financial measures. The Company’s fiscal 2027 guidance excludes the results of the Performance Technologies business, which will be reported as a discontinue
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