Modine Manufacturing

Modine helps buildings and vehicles stay at the right temperature. Their systems cool down large data centers and provide fresh air for school classrooms. These products also help engines run more efficiently to reduce harmful emissions.

What Modine Builds

• Data Centers: Cooling systems like chillers and air handlers for large computer facilities; accounts for 35% of net sales.
• On-Highway Applications: Heat exchangers and cooling systems for trucks, buses, and cars; accounts for 23% of net sales.
• Heat Transfer Solutions: Coils and coatings used in heating and refrigeration units; accounts for 18% of net sales.
• Heavy-Duty Equipment: Cooling modules for farm and construction machinery; accounts for 13% of net sales.
• HVAC Technologies: Heating and ventilation products for schools and businesses; accounts for 11% of net sales.

Recent Strategic Moves

• Acquired AbsolutAire, Inc., LBW Holding Corp., and Climate by Design International during fiscal 2026 to grow the ventilation business.
• Signed an agreement in January 2026 to combine the Performance Technologies segment with Gentherm Incorporated.
• Expanded manufacturing capacity for data center products by leasing new facilities in the U.S. and Canada during fiscal 2026.
• Entered a long-term agreement with a major customer to supply over $4 billion in cooling products through 2029.

The Competitive Edge

Modine uses over a century of thermal expertise to design specialized systems that meet strict environmental and energy efficiency standards. The company operates on four continents to provide localized support and manufacturing for global industrial customers.

The Scorecard

• Net sales reached $3.2 billion in fiscal 2026, up 23% from the previous year.
• Free cash flow hit $125.1 million in Q4 2026, up 361.6% year-over-year.
• Operating cash flow reached $167.2 million in Q4 2026, up 205.1% from the prior year.
• Net income hit $73.6 million in Q4 2026, up 48.4% year-over-year.

Evolution in Motion

Modine is shifting from a vehicle-parts supplier to a specialist in climate control and data center cooling. This transition focuses the business on high-growth technology markets and environmental efficiency.