Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Q1 2026 Earnings Presentation
18 slides from Modine Manufacturing's earnings presentation, Jul 31, 2025
Slide 1: First Quarter Fiscal 2026
First Quarter Fiscal 2026 July 31, 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 ▪ Climate Solutions revenue increased 11% and adjusted EBITDA increased 10%, with contributions from recent acquisitions ▪ AbsolutAire and L.B. White both offer complementary heating products, broadening our portfolio and unlocking new markets and distribution channels ▪ Climate by
Slide 5: Performance Technologies
Performance Technologies ▪ Performance Technologies revenues down 8%, adjusted EBITDA decreased 14% ▪ Market downturn continues; maintaining tight cost controls, including reallocating talent and resources to Climate Solutions ▪ Evaluating the transition of two sites to expand capacity for data cent
Slide 6: Climate Solutions
Climate Solutions (In millions) Net Sales 15% Data Centers $397.4 ▪ Growth primarily driven by NA hyperscale and colocation $357.3 customers 34% HVAC Technologies ▪ Recent acquisitions contributed $10M in sales; organic growth driven by heating stock plan demand and IAQ products -1% Heat Transfer So
Slide 7: Performance Technologies
Performance Technologies (In millions) Net Sales $309.0 -4% Heavy-Duty Equipment $285.5 ▪ Ongoing market softness for agriculture and construction customers, along with 80/20 product line exits -8% On-Highway Applications ▪ Lower global sales demand for CV products, continued softness in EV auto dem
Slide 8: Financial Review
Financial Review (In millions) Net Sales Adjusted EBITDA & (In millions) Q1 FY26 Q1 FY25 EBITDA Margin* Net Sales $682.8 $661.5 $661.5 $682.8 $100.9 $101.4 Gross Profit 165.4 162.6 15.3% 14.9% % of net sales 24.2% 24.6% SG&A expenses 84.9 82.8 % of net sales 12.4% 12.5% Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY
Slide 9: Cash Flow and Metrics
Cash Flow and Metrics Cash Flow and Metrics Q1 FY26 Free Cash Flow $0.2 million Net Debt (as of June 30) $403 million Leverage Ratio (as of June 30) 1.0x Capital Expenditures $28 million Modine Maintains Strong Balance Sheet & Liquidity ▪ Slightly positive free cash flow in the quarter; includes a s
Slide 10: Fiscal 2026 Outlook
Fiscal 2026 Outlook Metrics Guidance Comments FY26 Modine Segment Sales Outlook Net Sales +10% to +15% $2.84B to $2.97B Climate Solutions +25% to +35% Adjusted EBITDA* $440M to $470M +12% to +20% Performance Technologies (2%) to (12%) Raising our Financial Outlook ▪ Raising the revenue and earnings
Slide 11: Appendix
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Slide 12: GAAP Income Statement
GAAP Income Statement ‘Modine Manufacturing Company Consolidated statements of operations (unaudited) (In millions, except per share amounts) Three months ended June 30. 2025 2024 Net sales $ 6828 $ 661.5 Cost of sales 517.4 498.9 Gross profit 165.4 162.6 Selling, general & administrative expenses 8
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 $28 to $30 million, a provision for income taxes of
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