Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Q4 2025 Earnings Presentation
20 slides from Modine Manufacturing's earnings presentation, May 21, 2025
Slide 1: Fourth Quarter Fiscal 2025
Fourth Quarter Fiscal 2025 May 21, 2025
Slide 2: Presenters
NEIL BRINKER President and Chief Executive Officer MICK LUCARELI Executive Vice President and Chief Financial Officer KATHY POWERS Vice President, Treasurer, and Investor Relations 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements, including information about future financial performance and market conditions, accompanied by phrases such as “believes,” “estimates,” “expects,” “plans,” “anticipates,” “intends,” “projects,” and other similar “forward-looking” stat
Slide 4: Opening Comments
Opening Comments (In millions) Net Sales ▪ Third consecutive record year including strong fourth quarter $2,583.5 performance $2,407.8 ▪ Successfully executing on strategy to drive profitable top-line growth and expand EBITDA margins ▪ Organic and inorganic investments in the Climate Solutions segme
Slide 5: Climate Solutions
Climate Solutions (In millions) Net Sales ▪ Outstanding year; 30% increase in revenues, 45% increase in adjusted $1,440.8 EBITDA $1,108.1 ▪ Data center revenue increased 119% to $644 million, and included $197 million of data center revenue from Scott Springfield acquisition ▪ Strong organic growth
Slide 6: Performance Technologies
Performance Technologies (In millions) Net Sales ▪ Delivered strong fourth quarter despite challenging market conditions $1,321.3 ▪ Vehicular markets remain in an extended downturn, with further delays in launch and ramp of EV programs $1,163.5 ▪ Simplifying structure to two product groups: Heavy-Du
Slide 7: Climate Solutions
Climate Solutions (In millions) Net Sales 80% Data Centers $356.3 ▪ Strong growth from the SSM acquisition and organic growth driven by NA colocation customers $278.2 27% HVAC&R ▪ Improvement driven by late season heating demand, Indoor Air Quality (IAQ) sales across all products and refrigeration c
Slide 8: Performance Technologies
Performance Technologies (In millions) Net Sales -12% Advanced Solutions $330.0 ▪ Lower sales of EV auto and EVantage products, partially offset by $294.8 higher sales to CV specialty vehicle and military customers -7% Liquid-Cooled Applications ▪ Lower demand from CV and off-highway (OH) markets, w
Slide 9: Financial Review
Financial Review (In millions) Net Sales Adjusted EBITDA & (In millions) Q4 FY25 Q4 FY24 $647.2 EBITDA Margin* $603.5 Net Sales $647.2 $603.5 $104.1 Gross Profit 166.0 135.3 $78.8 16.1% % of net sales 25.7% 22.4% 13.1% SG&A expenses 81.5 75.6 % of net sales 12.6% 12.5% Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY2
Slide 10: Cash Flow and Metrics
Cash Flow and Metrics Cash Flow and Metrics FY25 YTD Free Cash Flow $129 million Net Debt (as of March 31) $279 million Leverage Ratio (as of March 31) 0.7x Capital Expenditures $84 million Modine Maintains Strong Balance Sheet & Liquidity ▪ Solid free cash flow in the quarter; $27M ▪ Net debt decre
Slide 11: Fiscal 2026 Outlook
Fiscal 2026 Outlook Metrics Guidance Comments FY26 Modine Segment Sales Outlook Net Sales +2% to +10% $2.64B to $2.84B Climate Solutions +12% to +20% Adjusted EBITDA* $420M to $450M +7% to +15% Performance Technologies (2%) to (12%) Introducing our Financial Outlook ▪ Providing wider revenue and ear
Slide 12: Appendix
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Slide 13: Tariff Disclosures
Tariff Disclosures Tariff Environment and Mitigation Actions Country Segment Exposure Short-term Mitigation Longer-term Mitigation Canada Climate Solutions Production of data center products for U.S. customers; Explore capacity expansion in U.S. to support manage via contractual pass-through arrange
Slide 14: GAAP Income Statement
GAAP Income Statement Modine Manufacturing Company Consolidated statements of operations (unaudited) (In millions, except per share amounts) Net sales Cost of sales Gross profit Selling. general & administrative expenses Restructuring expenses Gain on sale of assets Operating income Interest expense
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations* * See the footnotes on slide 16 for additional information regarding these adjustments. 15
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations 16
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) See the adjusted financial results on slide 15 and related footnotes on slide 16 for additional information regarding these adjustments. 17
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations Modine Manufacturing Company Net debt (unaudited) (In millions) March 31, 2025 December 31, 2024 March 31, 2024 Debt due within one year $ 54.1 $ 40.8 $ 31.7 Long-term debt 296.7 330.0 399.9 Total debt 350.8 370.8 431.6 Less: cash and cash equivalents 71.6 83.8 60.1 Net debt
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations 19
Slide 20: Forward-Looking Non-GAAP Financial Measure
Forward-Looking Non-GAAP Financial Measure The Company’s fiscal 2026 guidance includes adjusted EBITDA, which is a non-GAAP financial measure. The full-year fiscal 2026 guidance includes the Company’s estimates for interest expense of approximately $18 to $20 million, a provision for income taxes of
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