Q1 26 EPS
$1.06
BEAT +14.81%
Est. $0.92
Q1 26 Revenue
$682.8M
BEAT +4.88%
Est. $651.0M
vs S&P Since Q1 26
+104.1%
BEATING MARKET
MOD +120.2% vs S&P +16.1%
Market Reaction
Did MOD Beat Earnings? Q1 2026 Results
Modine Manufacturing delivered a strong fiscal first quarter, with data center momentum powering results well ahead of Wall Street expectations as the company reported earnings per share of $1.06 against a consensus estimate of $0.92, a beat of 14.81… Read more Modine Manufacturing delivered a strong fiscal first quarter, with data center momentum powering results well ahead of Wall Street expectations as the company reported earnings per share of $1.06 against a consensus estimate of $0.92, a beat of 14.81%, while revenue of $682.80 million topped estimates by 4.88% and grew 3.2% year over year. The headline driver was Climate Solutions, where revenue climbed 11% to $397.40 million on surging data center product demand and contributions from three recent acquisitions, pushing segment adjusted EBITDA to $79.40 million at a 20.0% margin. That strength offset a softer Performance Technologies segment, which contracted 8% to $285.50 million as heavy-duty equipment weakness and deliberate product line exits weighed on volumes and compressed gross margins by 240 basis points. Analysts responded by lifting consensus price targets materially following the report. Looking ahead, Modine raised its fiscal 2026 outlook to net sales growth of 10% to 15% and adjusted EBITDA of $440 million to $470 million, anchored by a $100 million North American capacity expansion and a management target to approach $2 billion in data center revenues by fiscal 2028.
Key Takeaways
- • Strong data center product demand driving Climate Solutions growth
- • Organic and inorganic growth in HVAC Technologies product group
- • Recent acquisitions contributed $10 million in incremental sales
- • Market weakness in heavy-duty equipment and on-highway applications impacting Performance Technologies
- • Strategic 80/20 product line exits reducing Performance Technologies revenue
- • Higher material costs pressuring Performance Technologies margins
MOD YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MOD Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are making important investments in our business that are advancing our competitive position in key markets and allowing us to capture incremental growth opportunities this fiscal year and beyond. Revenues this past quarter benefited from a strong performance by Climate Solutions, driven by continued momentum and higher sales of data center products, along with organic and inorganic growth in the HVAC Technologies product group. In Performance Technologies, we are actively working to control and offset higher material costs. I'm pleased with the company's performance and look forward to a significant ramp in volumes in the second half of the year.”
— Neil D. Brinker, Q1 2026 Earnings Press Release
MOD Earnings Trends
MOD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MOD EPS Trend
Earnings per share: estimate vs actual
MOD Revenue Trend
Quarterly revenue: estimate vs actual
MOD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.55 | $1.71 | +10.00% | $954.4M | +3.66% |
| FY Full Year | $4.87 | $5.02 | +3.18% | $3.18B | +1.07% |
| Q3 26 BEAT | $0.99 | $1.19 | +19.71% | $805.0M | +5.86% |
| Q2 26 BEAT | $1.01 | $1.06 | +4.95% | $738.9M | +5.79% |
| Q1 26 BEAT | $0.92 | $1.06 | +14.81% | $682.8M | +4.88% |
| Q4 25 BEAT FY | $0.96 | $1.12 | +17.28% | $647.2M | +2.49% |
| FY Full Year | — | $4.05 | — | $2.58B | — |