Modine Manufacturing Gains 19% After $4B Data Center Cooling Deal
MOD•Modine Manufacturing secured a $4 billion capacity agreement to supply Airedale data center cooling products between 2027 and 2029, receiving a $165 million upfront cash payment. This deal exceeds its fiscal 2025 revenue of $2.58 billion and positions the stock for its best single-day gains in four months.
1. Agreement Details
Modine Manufacturing entered a $4.0 billion long-term capacity agreement with a strategic data center customer to supply Airedale cooling products between 2027 and 2029, including an upfront cash payment of $165 million.
2. Financial Significance
The $4.0 billion commitment exceeds Modine’s fiscal 2025 revenue of $2.58 billion and its projected $3.15 billion sales for fiscal 2026, highlighting a major revenue opportunity and strategic growth in its Data Centers business.
3. Stock Market Reaction
Modine’s shares surged nearly 19% in pre-market trading, setting the stock on course for the best single-day gain in four months and an all-time high opening price.
