Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Q2 2026 Earnings Presentation
18 slides from Modine Manufacturing's earnings presentation, Oct 29, 2025
Slide 1: Second Quarter Fiscal 2026
Second Quarter Fiscal 2026 October 29, 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: Climate Solutions
Climate Solutions ▪ Delivered 24% revenue growth, including contributions from three acquisitions- AbsolutAire, L.B. White and Climate by Design International – Organic growth of 15%, including a 42% increase in Data Centers ▪ Making substantial progress on North American Data Center capacity expans
Slide 5: Performance Technologies
Performance Technologies ▪ Performance Technologies revenues down 4%, generally aligned with overall market conditions ▪ Adjusted EBITDA increased 3%, improving the margin by 90 bps – Driven by cost containment and operational efficiencies taken over past quarters including shifting resources to Cli
Slide 6: Climate Solutions
Climate Solutions (In millions) Net Sales 42% Data Centers $454.4 ▪ Growth primarily driven by hyperscale and colocation customers across North America and Europe $366.4 25% HVAC Technologies ▪ Recent acquisitions contributed $28M in sales; partially offset by lower IAQ product sales and light prese
Slide 7: Performance Technologies
Performance Technologies (In millions) Net Sales 0% Heavy-Duty Equipment $297.5 $286.3 ▪ Higher off-highway sales driven by construction and mining offset by lower GenSet revenue due to dual sourcing -3% On-Highway Applications ▪ Lower sales demand for CV products, lower specialty vehicle, bus and c
Slide 8: Financial Review
Financial Review (In millions) Net Sales Adjusted EBITDA & (In millions) Q2 FY26 Q2 FY25 $738.9 EBITDA Margin* Net Sales $738.9 $658.0 $658.0 $103.8 $99.8 Gross Profit 164.9 165.6 15.2% 14.0% % of net sales 22.3% 25.2% SG&A expenses 84.2 85.8 % of net sales 11.4% 13.0% Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY2
Slide 9: Cash Flow and Metrics
Cash Flow and Metrics Cash Flow and Metrics Q2 FY26 YTD Free Cash Flow ($30 million) Net Debt (as of September 30) $498 million Leverage Ratio (as of September 30) 1.2x Capital Expenditures $59 million Modine Maintains Strong Balance Sheet & Liquidity ▪ Free cash flow was negative in the quarter, as
Slide 10: Fiscal 2026 Outlook
Fiscal 2026 Outlook Metrics Guidance Comments FY26 Modine Segment Sales Outlook Net Sales +15% to +20% $2.97B to $3.10B Climate Solutions +35% to +40% Adjusted EBITDA* $440M to $470M +12% to +20% Performance Technologies Flat to (7%) Raising Revenue Outlook and Reaffirming our Earnings Outlook ▪ Rai
Slide 11: Appendix
MODINE Appendix
Slide 12: 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 Impairment charge Operating income Interest expense Oth
Slide 13: Non-GAAP Reconciliations
Non-GAAP Reconciliations* * See the footnotes on slide 14 for additional information regarding these adjustments. 13
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations 14
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) See the adjusted financial results on slide 13 and related footnotes on slide 14 for additional information regarding these adjustments. 15
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations 16
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations 17
Slide 18: 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 $31 to $35 million, a provision for income taxes of
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