Q1 2026 Modine Manufacturing Co Earnings Call Transcript

Jul 31, 2025 / 03:00PM GMT

Release Date Price: €108.6 (+12.35%)

Transcript 10-Q8-K

Key Points

Positve

Modine Manufacturing Co (MOD) reported a strong start to fiscal 2026, leading to an increased revenue and earnings outlook.
The company completed three strategic acquisitions, enhancing its product portfolio and market reach in the climate solutions segment.
The climate solutions segment saw an 11% increase in revenue and a 10% improvement in adjusted EBITDA, driven by recent acquisitions.
Significant investments in manufacturing capacity for the North America Data Center business are expected to meet strong market demand.
Modine Manufacturing Co (MOD) is targeting $2 billion in data center revenues by fiscal 2028, indicating strong growth potential in this segment.

Negative

The performance technology segment faced tough market conditions, with an 8% decline in revenues and corresponding declines in adjusted EBITDA.
The downturn in vehicular markets is expected to persist, impacting the performance technology segment.
Higher material costs and lower sales volume led to a decline in adjusted EBITDA margin for the performance technology segment.
The company is experiencing higher inventory levels, impacting free cash flow generation.
Modine Manufacturing Co (MOD) anticipates lower free cash flow as a percentage of sales this year due to increased capital expenditures.

Kathleen Powers

Modine Manufacturing Co - VP, Treasurer, Investor Relations

Hello and good morning. Welcome to our conference call to discuss Modine's first quarter fiscal 2026 results. I'm joined by Neil Brinker, our President and Chief Executive Officer, and Michael Lucareli, our executive Vice President and Chief Financial Officer. The slides that we will be using with today's presentation are available on the investor relations section of our website, Modin.com.

On slide 3 of Bad deck is our notice regarding forward-looking statements. This call will contain forward-looking statements as outlined in our earnings release, as well as in our company's filings with the Securities and Exchange Commission. With that, I'll turn the call over to Neil.

Neil Brinker

Modine Manufacturing Co - President, Chief Executive Officer, Director

Thank you Kathy and good morning everyone.

I'm pleased to report that Modine delivered a solid start to the year, giving us confidence to raise our revenue and earnings outlook for fiscal 26.

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