Modine Manufacturing's Data Center Customers Drive Up Sales

Dow Jones05-27

By Dean Seal

Modine Manufacturing said soaring demand for its data center products surged sales and boosted earnings in the first three months of the year.

The century-old maker of thermal management systems posted a profit of $73.3 million, or $1.36 a share, compared with $49.6 million, or 92 cents a share, in the same quarter a year earlier.

Stripping out one-time items, adjusted earnings were $1.71 a share. Analysts polled by FactSet had been expecting 1.55 a share.

Revenue soared 47% to $954.4 million, ahead of analyst forecasts for $921 million. On top of its data center products, sales from acquired businesses pushed revenue higher.

The uplift came despite a loss of production days from severe weather in multiples locations and key component shortages from certain suppliers.

The company is expecting sales to climb 20% to 35% for the fiscal year that started April 1. That would put them at $3.82 billion to $4.29 billion. Analysts had been projecting $3.83 billion.

The upbeat outlook comes on the same day that Modine said it had landed a contract worth more than $4 billion to supply cooling products to one of its data-center customers from 2027 to 2029.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 26, 2026 16:39 ET (20:39 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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