MODINE MANUFACTURING CO 8-K
Earnings
Climate Solutions split into Data Centers and Commercial HVAC, aligning reporting with management’s capital allocation and performance assessment.
Filed 2026-07-24 16:05 ET
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Segment realignment and recast FY2026 results. Effective 4/1/2026, Modine split Climate Solutions into Data Centers and Commercial HVAC; starting Q1 FY2027, it will report those segments separately alongside Performance Technologies. The recast reflects management’s new approach to allocating capital and assessing performance, and is not a restatement of prior financial statements. The company expects its pending spin-off and combination of Performance Technologies with Gentherm to close by the end of calendar 2026; upon completion, it expects to report Performance Technologies as a discontinued operation.
Key Figures
| Metric | FY2026 | Q4 FY2026 |
|---|---|---|
| Net sales | $3.18B | $954M |
| Operating income | $342M | $104M |
| Adjusted EBITDA, non-GAAP | $471M | $146M |
| Adjusted EBITDA margin, non-GAAP | 14.8% | 15.3% |
| Data Centers net sales | $1.11B | $402M |
| Commercial HVAC net sales | $974M | $274M |
| Performance Technologies net sales | $1.13B | $294M |
| Data Centers operating income | $195M | $71.9M |
| Commercial HVAC operating income | $127M | $36.8M |
| Performance Technologies operating income | $110M | $27.7M |
- FY2026 adjusted EBITDA by segment: Data Centers $214.7M, Commercial HVAC $162.4M and Performance Technologies $156.5M; segment margins were 19.4%, 16.7% and 13.8%, respectively.
- FY2026 adjusted EBITDA includes $(62.6)M of corporate and eliminations. It excludes $15.0M of disposition costs, primarily related to the pending Gentherm transaction.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch Q1 FY2027 reporting for results under the three-segment structure.
- The Gentherm transaction’s expected close by year-end 2026 remains subject to Gentherm shareholder approval and customary closing conditions; completion would trigger discontinued-operations reporting for Performance Technologies.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3