Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Q1 2027 Earnings Presentation
20 slides from Modine Manufacturing's earnings presentation, Jul 30, 2026
Slide 1: First Quarter Fiscal 2027
First Quarter Fiscal 2027 July 30, 2026
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: Data Centers
Data Centers ▪ Decisive actions taken to address shortages of key components during the quarter – Working with suppliers to expand capacity to meet market demand – Negotiating commitments to secure volume for FY27 and beyond ▪ Activated contingency plans, including resequencing capacity rollouts ▪ L
Slide 5: Commercial HVAC
Commercial HVAC ▪ New, strong, proven leader driving a renewed focus on 80/20 ▪ Commercial HVAC revenue increased 22% driven by prior year acquisitions and growth in coils sales to data center customers ▪ Strategic actions underway to optimize footprint in support of our 80/20 focus and to improve o
Slide 6: Performance Technologies
Performance Technologies ▪ Focused on preparing for the pending spin-off and merger with Gentherm ▪ Passed several milestones over the last quarter ▪ Gentherm completed S-4 submissions to the SEC; will request shareholder approval ▪ Modine completed filing required for an IRS determination letter ▪
Slide 7: Data Centers
Data Centers (In millions) Net Sales $348.6 112% Americas Strong growth across hyperscale customers, driven by a growing order book $183.7 18% EMEA Growth driven by hyperscale and colocation customers Q1 FY26 Q1 FY27 Adjusted EBITDA & EBITDA Margin* ▪ 27% increase in Adjusted EBITDA driven by strong
Slide 8: Commercial HVAC
Commercial HVAC (In millions) Net Sales $261.6 45% HVAC Technologies Acquisitions contributed $20M, along $214.2 with higher heating product sales 7% Heat Transfer Solutions Growth primarily driven by higher demand for coils by data center customers Q1 FY26 Q1 FY27 Adjusted EBITDA & EBITDA Margin* ▪
Slide 9: Performance Technologies
Performance Technologies (In millions) Net Sales 1% Heavy-Duty Equipment Primarily driven by higher GenSet $285.5 revenue, partially offset by lower $277.8 sales to agricultural customers -5% On-Highway Applications Lower sales to automotive and commercial vehicle customers Q1 FY26 Q1 FY27 Adjusted
Slide 10: Financial Review
Financial Review (In millions) Net Sales Adjusted EBITDA & (In millions) Q1 FY27 Q1 FY26 EBITDA Margin* $874.1 Net Sales $874.1 $682.8 $106.5 $101.4 Gross Profit 182.0 165.4 $682.8 % of net sales 20.8% 24.2% 14.9% 12.2% SG&A expenses 103.3 84.9 % of net sales 11.8% 12.4% Q1 FY26 Q1 FY27 Q1 FY26 Q1 F
Slide 11: Cash Flow and Metrics
Cash Flow and Metrics Cash Flow and Metrics Q1 FY27 Free Cash Flow ($5 million) Net Debt (as of June 30) $433 million Leverage Ratio (as of June 30) 0.9x Capital Expenditures $46 million Modine Maintains Strong Balance Sheet & Liquidity ▪ Negative free cash flow driven by higher contract assets rela
Slide 12: Fiscal 2027 Outlook
Fiscal 2027 Outlook Metrics Guidance Comments FY27 Segment Sales Outlook Net Sales +20% to +35% $3.82B to $4.29B Data Centers +60% to +80% Adjusted EBITDA* $650M to $680M +38% to +44% Commercial HVAC +5% to +10% Performance Technologies Flat to +5% Reaffirming our Revenue and Earnings Outlook ▪ Modi
Slide 13: Appendix
MODINE Appendix
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 Operating income Interest expense Other income (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 18
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations 19
Slide 20: Forward-Looking Non-GAAP Financial Measures
Forward-Looking Non-GAAP Financial Measures The Company’s fiscal 2027 guidance includes adjusted EBITDA and free cash flow, which are non-GAAP financial measures. The fiscal 2027 guidance for adjusted EBITDA includes the Company’s estimates for interest expense of approximately $24 to $27 million, a
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