Modine Q2 FY27 net earnings fall 32% to $30.3 million; sales rise 35% to $994.4 million
MOD•Modine's Q2 FY27 net earnings fell 32% to $30.3 million, including $29.5 million in spin-off-related income tax expense, while net sales rose 35% to $994.4 million. The company forecast FY27 net sales of $3.1 billion to $3.2 billion, excluding Performance Technologies.
1. Quarterly results and outlook
Modine reported Q2 FY27 net earnings of $30.3 million, down 32%, including $29.5 million in spin-off-related income tax expense. Net sales increased 35% to $994.4 million, driven by higher sales in Data Centers and Commercial HVAC. The Performance Technologies spin-off closed October 1, and management reported record Data Centers orders and backlog. Modine forecast FY27 net sales of $3.1 billion to $3.2 billion, excluding Performance Technologies.
