Modine Lands $4B Data Center Cooling Deal with $165M Upfront Payment
MOD•Modine Manufacturing secured a $4 billion data-center cooling contract spanning 2027–2029, including a $165 million upfront payment and representing roughly $1.3 billion in annual sales, more than doubling 2025’s $700 million data-center revenue. The company forecasts Q2 EPS of $1.51 on $920.67 million revenue while maintaining a 2.19 current ratio and 0.77 debt-to-equity.
1. $4 Billion Data Center Cooling Contract
Modine Manufacturing announced a $4 billion multiyear agreement to supply cooling solutions to a hyperscale data center customer from 2027 through 2029. The deal includes a $165 million upfront payment and is expected to generate about $1.3 billion in annual revenue, significantly exceeding the $700 million in data-center sales recorded in 2025.
2. Q2 Earnings and Revenue Guidance
For the second quarter, Modine expects earnings per share of $1.51 and revenue of $920.67 million, reflecting strong growth in its data-center segment. Analysts project a 34.8% EPS increase from the prior-year quarter, driven by higher-volume orders and improved pricing in cooling solutions.
3. Financial Health and Spin-Off Plan
Modine maintains a robust current ratio of 2.19 and a debt-to-equity ratio of 0.77, underscoring solid liquidity and balanced leverage. The company plans to spin off its lower-margin performance technologies unit by Q4 2026 to sharpen its focus as a pure-play data-center cooling provider.





