Q3 26 EPS
$1.19
BEAT +19.71%
Est. $0.99
Q3 26 Revenue
$805.0M
BEAT +5.86%
Est. $760.4M
vs S&P Since Q3 26
+27.8%
BEATING MARKET
MOD +36.0% vs S&P +8.3%
Market Reaction
Did MOD Beat Earnings? Q3 2026 Results
Modine Manufacturing posted a standout fiscal third quarter for 2026, with adjusted earnings per share of $1.19 beating the $0.99 consensus estimate by 19.71% and revenue of $805.00 million topping expectations by 5.86% while climbing 30.5% year over… Read more Modine Manufacturing posted a standout fiscal third quarter for 2026, with adjusted earnings per share of $1.19 beating the $0.99 consensus estimate by 19.71% and revenue of $805.00 million topping expectations by 5.86% while climbing 30.5% year over year. The headline driver was an explosive performance in the Climate Solutions segment, where data center sales surged 78% and overall segment revenue jumped 51% to $544.60 million, reflecting soaring demand for thermal management solutions tied to AI infrastructure buildouts. On a GAAP basis, results were weighed down by a $116.10 million non-cash pension termination charge that produced a net loss of $46.80 million, though the adjusted figures told a markedly different story. Strategically, Modine announced a pending spin-off of its Performance Technologies segment in a $1.00 billion Reverse Morris Trust transaction with Gentherm, positioning the company as a pure-play climate solutions business. Management raised its fiscal 2026 outlook, now targeting net sales growth of 20% to 25% and adjusted EBITDA of $455.00 million to $475.00 million, while lifting its data center revenue growth forecast to more than 70% for the year, keeping its $2.00 billion fiscal 2028 revenue target well within reach.
Key Takeaways
- • 78% increase in data center sales driving Climate Solutions organic growth of 36%
- • HVAC Technologies sales increased 48%, including $42.8 million from acquisitions
- • Performance Technologies adjusted EBITDA margin improved 400 bps to 14.8% from 80/20 cost reduction actions
- • SG&A reduced by nearly $7M in Performance Technologies through 80/20 reorganization
- • Favorable pricing and cost recoveries in Performance Technologies offsetting lower volumes
- • Heat Transfer Solutions growth driven by coils volume and coatings demand from aerospace industry
MOD YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
MOD Revenue by Segment
With YoY comparisons, source: SEC Filings
“Modine delivered another quarter of outstanding performance, with 21 percent organic sales growth driven by a 78 percent increase in data center sales. The capacity expansion for data center products remains on schedule, with new production lines contributing to a 31 percent sequential increase in sales compared to the second fiscal quarter. Margins in the Climate Solutions segment improved sequentially this quarter, as expected, and we remain confident that we are on pace for a strong fourth quarter as more production lines are commissioned to keep pace with the strong demand.”
— Neil D. Brinker, Q3 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 | — |