The financials
Modine Manufacturing Company by the numbers
Modine Manufacturing Company (MOD) reported revenue of $954M in Q4 2026 (quarter ended Mar 31, 2026), up 47% from the same quarter a year earlier. That came with a gross margin of 22% and net income of $73M (7.7% of revenue). For the full year FY2026, revenue was $3.18B (+23% year on year) and net income $122M. Its largest product in Jun 2026 was Data Center Cooling Solutions at $348M, 40% of the disclosed total, well ahead of Heat Transfer Solutions at 20%.
| Income statement | Q4 2026 | Q4 2025 | Change |
|---|---|---|---|
| Revenue | $954M | $647M | +47% |
| Gross profit | $215M | $166M | +29% |
| Operating income | $104M | $75M | +39% |
| Net income | $73M | $50M | +48% |
| Diluted EPS | $1.36 | $0.93 | +46% |
| Product | Revenue | Share |
|---|---|---|
| Data Center Cooling Solutions | $348M | 40% |
| Heat Transfer Solutions | $173M | 20% |
| Liquid Cooled | $170M | 19% |
| Air Cooled | $108M | 12% |
| Hvac Technologies | $75M | 8.6% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Jun 2026Total $874.1M (+33%)
Data Center Cooling Solutions grew +90% year on yearLiquid Cooled -5.0% year on year
Segment Latestquarter on quarteryear on year
- Data Center Cooling Solutions$348.4M$348.4MQoQ -year on year +90%-+90%
- Heat Transfer Solutions$172.5M$172.5MQoQ +21%year on year +6.6%+21%+6.6%
- Liquid Cooled$170.2M$170.2MQoQ -year on year -5.0%--5.0%
- Air Cooled$107.6M$107.6MQoQ -year on year +1.2%-+1.2%
- Hvac Technologies$75.4M$75.4MQoQ -34%year on year +45%-34%+45%