Here are the 10-Q quarterly reports from Modine Manufacturing Co (MOD) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MOD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MOD filings page.
Modine Manufacturing Company (MOD) reported second-quarter fiscal 2027 net sales of $994.4 million, up 35% from a year earlier, and operating income of $97.8 million, up 33%. Net earnings attributable to Modine were $30.0 million, versus $44.4 million; the quarter included $29.5 million of income tax expense related to legal-entity restructuring. Gross margin declined 160 basis points to 20.7%, with higher material costs among the stated drivers.
For the first six months of fiscal 2027, sales were $1,868.5 million, up 31%, while operating cash flow was negative $57.1 million, compared with positive $29.1 million a year earlier. Modine reported operating inefficiencies associated with rapid data-center capacity expansion and supplier constraints.
On October 1, 2026, Modine completed the spin-off of Performance Technologies and its combination with Gentherm; shareholders received newly issued Gentherm shares representing approximately 44% post-transaction ownership. Modine received a $156.0 million cash distribution and a $42.6 million cash transfer, subject to post-closing adjustment, and used $198.6 million to repay revolving-credit borrowings. It intends to change its name to Modexus Solutions, Inc., subject to shareholder approval and completion of other regulatory steps; its MOD ticker will continue.
Modine Manufacturing Company reported first-quarter fiscal 2027 net sales of $874.1 million, up 28% from a year earlier, driven mainly by higher Data Centers revenue. Gross profit rose to $182.0 million, but gross margin declined to 20.8% from 24.2% as higher material costs and capacity-related inefficiencies pressured profitability.
Operating income was $74.8 million versus $75.7 million a year ago, as higher SG&A and restructuring costs offset volume gains. Net earnings attributable to Modine increased to $73.9 million and diluted EPS to $1.37, aided by $26.5 million of tax benefits from stock-based compensation. Cash from operations improved to $41.4 million, while capital expenditures increased to $46.4 million, largely to expand data center capacity.
The company is preparing a Reverse Morris Trust transaction to spin off its Performance Technologies segment and combine it with Gentherm. Modine shareholders are expected to own approximately 40% of the combined company, and Modine is to receive $210.0 million of cash to repay debt, subject to closing conditions.
Modine Manufacturing Company grew strongly in fiscal Q3 2026 but reported a net loss due to a one-time pension charge. Net sales rose to $805.0 million, up 31% from $616.8 million, driven mainly by Climate Solutions’ data center cooling and recent acquisitions. Operating income increased to $89.3 million from $59.3 million, though gross margin slipped to 23.1% on temporary inefficiencies from rapidly expanding data center capacity.
A non-cash pension termination charge of $116.1 million flipped the quarter to a net loss of $46.8 million, versus prior-year net earnings of $41.2 million. For the first nine months, sales reached $2,226.7 million and net earnings were $49.7 million, down from $135.4 million. Modine also closed three Climate Solutions acquisitions totaling roughly $186 million and later agreed to a Reverse Morris Trust that will combine its Performance Technologies segment with Gentherm in a transaction valued at about $1.0 billion, with Modine shareholders expected to own roughly 40% of the combined company and Modine receiving $210.0 million in cash.
Modine Manufacturing Company filed its Q2 FY2026 10‑Q, reporting higher sales with steady profitability. For the three months ended September 30, 2025, net sales were $738.9 million versus $658.0 million a year ago, while diluted EPS was $0.83 versus $0.86. Operating income was $73.5 million compared with $75.3 million.
Segment mix and growth were notable. Climate Solutions net sales were $454.4 million and Performance Technologies were $286.3 million. Within Climate Solutions, Data Centers contributed $226.3 million. For the six months ended September 30, 2025, net sales were $1,421.7 million versus $1,319.5 million, and diluted EPS was $1.78 versus $1.73.
Balance sheet and cash flows reflected acquisitions and capacity expansion. Total assets rose to $2,385.9 million from $1,917.6 million, and long‑term debt increased to $525.8 million from $296.7 million. Net cash provided by operating activities was $29.1 million for the six months, with investing cash outflows of $238.3 million including $182.1 million for acquisitions (L.B. White $110.5 million, Climate by Design $64.4 million, AbsolutAire $11.3 million). The company signed a 7‑year operating lease for a manufacturing facility with future payments of approximately $44.0 million.
Upcoming pension actions are significant. Modine expects non‑cash pension settlement charges of approximately $120.0–$125.0 million and cash contributions of $20.0–$25.0 million during the second half of fiscal 2026. A new $400.0 million revolving credit facility and $200.0 million term loan mature in July 2030.