Modine Revenue Jumps on Data Center Growth

Dow Jones05:40

Modine reported higher fiscal 2027 second-quarter revenue, boosted by growth in the company's data center and commercial HVAC businesses.

The company posted net income of $30 million, or 56 cents a share, down from $44.4 million, or 83 cents a share, the year prior. The results included $29.5 million of income tax expense related to the spin-off of its performance technologies business.

Adjusted earnings were $1.35 a share. Analysts polled by FactSet expected $1.45 a share.

Net sales rose 35% to $994.4 million on 95% growth in the company's data center segment and a 23% increase in revenue for the commercial HVAC segment. Wall Street expected $978.3 million.

The company guided for fiscal 2027 net sales of $3.1 billion to $3.2 billion.

HVAC companies have seen surging demand from the data center buildout, which relies on their cooling systems.

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