Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Q3 2026 Earnings Presentation
19 slides from Modine Manufacturing's earnings presentation, Feb 5, 2026
Slide 1: Third Quarter Fiscal 2026
Third Quarter Fiscal 2026 February 5, 2026
Slide 2: Neil Brinker, Mick Lucareli, Kathy Powers
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: Performance Technologies Spin-off Announcement
Performance Technologies Spin-off Announcement ▪ Significant progress evolving our business portfolio by investing in high-growth, high-margin businesses and executing strategic divestitures ▪ Recently announced our plan to spin-off the Performance Technologies segment and combine with Gentherm; wit
Slide 5: Performance Technologies
Performance Technologies ▪ Performance Technologies revenues increased 1%, driven by commercial execution and cost recoveries, volumes remain down ▪ Adjusted EBITDA margin increased 400 bps to 14.8% – Driven by cost containment and operational efficiencies taken over past quarters, including shiftin
Slide 6: Climate Solutions
Climate Solutions ▪ Delivered 51% revenue growth, including contributions from recent acquisitions – Organic growth of 36%, including a 78% increase in Data Centers ▪ Data Center capacity expansion is proceeding on schedule; supporting a sequential margin improvement – Launched chiller lines in Leed
Slide 7: Performance Technologies
Performance Technologies (In millions) Net Sales -3% Heavy-Duty Equipment ▪ Primarily driven by lower GenSet revenue due to customer dual $266.0 sourcing, partially offset by other customers $262.2 6% On-Highway Applications ▪ Higher sales demand for legacy ICE automotive products, partially offset
Slide 8: Climate Solutions
Climate Solutions (In millions) Net Sales $544.6 78% Data Centers ▪ Strong organic growth driven by hyperscale and colocation customers across North America and Europe 48% HVAC Technologies $360.8 ▪ Acquisitions contributed $43M along with stronger heating, partially offset by lower indoor air quali
Slide 9: Financial Review
Financial Review (In millions) Net Sales Adjusted EBITDA & (In millions) Q3 FY26 Q3 FY25 $805.0 EBITDA Margin* $119.6 Net Sales $805.0 $616.8 $616.8 Gross Profit 186.1 149.6 $87.3 14.9% % of net sales 23.1% 24.3% 14.2% SG&A expenses 89.3 82.0 % of net sales 11.1% 13.3% Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY2
Slide 10: Cash Flow and Metrics
Cash Flow and Metrics Cash Flow and Metrics Q3 FY26 YTD Free Cash Flow ($47 million) Net Debt (as of December 31) $517 million Leverage Ratio (as of December 31) 1.2x Capital Expenditures $101 million Modine Maintains Strong Balance Sheet & Liquidity ▪ Free cash flow was negative in the quarter, as
Slide 11: Fiscal 2026 Outlook
Fiscal 2026 Outlook Metrics Guidance Comments FY26 Segment Sales Outlook Net Sales +20% to +25% $3.10B to $3.23B Climate Solutions +40% to +45% Adjusted EBITDA* $455M to $475M +16% to +21% Performance Technologies Flat to (7%) Raising Revenue and Earnings Outlook ▪ Raising the expected revenue growt
Slide 12: Appendix
MODINE Appendix
Slide 13: 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 Impaiment charge Operating income Interest expense Other
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations* * See the footnotes on slide 15 for additional information regarding these adjustments. 14
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations 15
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) See the adjusted financial results on slide 14 and related footnotes on slide 15 for additional information regarding these adjustments. 16
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations 17
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations 18
Slide 19: 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 $30 to $34 million, a provision for income taxes of
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