MODINE MANUFACTURING CO (MOD) Form 10-K — May 27, 2026
Modine Manufacturing reported fiscal 2026 net sales of $3.2 billion, a 23% increase year-over-year, driven by robust demand for data center cooling solutions fueled by AI infrastructure build-outs and $119 million in incremental sales from three strategic acquisitions. Operating income rose 21% to $342 million, demonstrating strong operational leverage despite a 190 basis point decline in gross margin due to temporary inefficiencies in rapid capacity expansion and higher material costs. The company entered into a definitive agreement to spin off its Performance Technologies segment and combine it with Gentherm in a Reverse Morris Trust transaction valued at approximately $1 billion.
Key figures
- Revenue
- 3181000000
- Net Income
- 123000000
- Total Debt
- 436000000
- Revenue Yoy
- 23%
- Gross Margin
- 23.0%
- Gross Profit
- 731000000
- Cash Position
- 74000000
- Operating Income
- 342000000
- Shares Outstanding
- 52815785
- Data Center Deposit
- 165000000
- Gentherm Cash Proceeds
- 210000000
- Acquisitions Total Cost
- 186000000
- Gentherm Transaction Value
- 1000000000
- Pension Termination Charge
- 116000000
- Data Center Future Sales Commitment
- 4000000000
- Share Repurchase Authorization Remaining
- 82000000
Price after filing
Close on the filing date to close N calendar days later (from $279.93). Historical, not a forecast.
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