Modine Manufacturing (MOD) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended September 30, 2026 and Modine published the results on November 3, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Modine reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Modine completed the spin-off of its Performance Technologies business and its combination with Gentherm on October 1, 2026, after the quarter closed. Q2 fiscal 2027 still includes Performance Technologies; from the third quarter Modine reports it as discontinued operations.
• Effective April 1, 2026, Modine split its Climate Solutions segment into Data Centers and Commercial HVAC, and recast fiscal 2026 segment figures to match.
• GAAP EPS includes $29.5 million of income tax expense from legal entity restructuring done to prepare for the spin-off, $0.55 a share in Modine's adjusted EPS reconciliation.

Source: Modine Q2 fiscal 2027 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Modine splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Modine's Data Centers revenue was $440 million in Q2 fiscal 2027, up 95% from $225 million in Q2 fiscal 2026, 44% of total revenue.
• Modine's Commercial HVAC revenue was $286 million in Q2 fiscal 2027, up 23% from $233 million in Q2 fiscal 2026, 29% of total revenue.
• Modine's Performance Technologies revenue was $288 million in Q2 fiscal 2027, flat on $286 million in Q2 fiscal 2026, 29% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q2 fiscal 2027 release, Modine said:

“We expect revenues to increase 50 to 55 percent from the prior year, excluding Performance Technologies from both periods.”

“Additionally, we expect full-year adjusted EBITDA for our continuing business to be $470 to $500 million, representing a growth rate in excess of 50 percent from the prior year, excluding Performance Technologies from both periods.”

Source: Modine Q2 fiscal 2027 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MOD forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release. These include Performance Technologies, which Modine will report as discontinued operations from Q3 fiscal 2027.

Modine's next report is expected around February 3, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 3, 2026

Modine reported three segments in Q2 fiscal 2027. Data Centers had net sales of $439.7 million, up 95 percent from $225.0 million; Commercial HVAC $285.5 million, up 23 percent from $232.9 million; and Performance Technologies $287.7 million against $286.3 million. The segments add to $1,012.9 million, and $18.5 million of corporate and eliminations brings the total to $994.4 million. (Modine Q2 fiscal 2027 release, Nov 3, 2026)

Modine's Data Centers segment sells chillers, precision air handling units, computer room air conditioning units, fan walls, rear-door heat exchangers, coolant distribution units and immersion systems, plus modular data centers, parts and service. Modine said the segment's growth came mainly from higher sales to hyperscale customers in North America. The Americas supplied $383.7 million of the segment's $439.7 million, against $165.2 million a year earlier, while Europe fell to $56.0 million from $59.8 million. (Modine Form 10-Q, Q2 fiscal 2027, Nov 4, 2026; Modine Q2 fiscal 2027 release, Nov 3, 2026)

Modine's earnings presentation says Data Centers had a fourth consecutive quarter of record orders, exceeding $1 billion in quarterly order intake, and received a $400M program award from a strategic hyperscale customer. Modine had 13 active chiller lines in North America and expects 20 by the end of the fiscal year. (Modine Q2 fiscal 2027 earnings presentation, Nov 4, 2026)

Within Commercial HVAC, Heat Transfer Solutions (coils, anti-corrosion coatings, coolers) sold $174.1 million against $150.5 million, and HVAC Technologies (heaters, commercial chillers and ventilation) $95.3 million against $79.6 million. Modine credited higher sales of coils, coatings and heating and ventilation products, and said anti-corrosive coatings revenue rose 28 percent. (Modine Form 10-Q, Q2 fiscal 2027, Nov 4, 2026; Modine Q2 fiscal 2027 release, Nov 3, 2026; Modine Q2 fiscal 2027 earnings presentation, Nov 4, 2026)

Modine's sales are concentrated: its ten largest customers accounted for 49 percent of net sales in fiscal 2026, and one global technology customer accounted for about 11 percent. Performance Technologies, which left on October 1, 2026, sold $113.5 million of Heavy-Duty Equipment and $174.2 million of On-Highway Applications products in the quarter. In the spin-off Modine shareholders received about 44 percent of Gentherm, and Modine received a $156.0 million cash distribution from the spun-off company. (Modine Form 10-K, fiscal 2026, May 27, 2026; Modine Form 10-Q, Q2 fiscal 2027, Nov 4, 2026)

Modine's GAAP diluted EPS fell to $0.56 from $0.83 while adjusted EPS rose to $1.35 from $1.06. The adjusted figure adds back $0.55 a share of tax impacts from legal entity restructuring, $0.20 of disposition costs for the Gentherm transaction and $0.04 of restructuring expenses. (Modine Q2 fiscal 2027 release, Nov 3, 2026)

Modine's effective tax rate was 65.6 percent in the quarter, against 29.7 percent a year earlier. The 10-Q attributes the increase mainly to $29.5 million of income tax expense recorded for the legal entity restructuring steps that separated Performance Technologies. The provision for income taxes was $57.7 million on pretax earnings of $88.0 million. (Modine Form 10-Q, Q2 fiscal 2027, Nov 4, 2026; Modine Q2 fiscal 2027 release, Nov 3, 2026)

Modine's diluted weighted-average shares were 53.9 million, against 53.8 million a year earlier. Purchases of treasury stock were $65.7 million in the first six months of fiscal 2027; Modine said these were shares bought back from participants in its equity compensation plan to cover their tax withholding. (Modine Q2 fiscal 2027 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Modine publishes a full-year outlook in its release, and moved it to a continuing-business basis after the spin-off. For fiscal 2027 excluding Performance Technologies it expects net sales of $3.1 to $3.2 billion, up 50 to 55 percent, and adjusted EBITDA of $470 to $500 million. Its presentation breaks the sales outlook down as Data Centers up 80% to 90% and Commercial HVAC up 10% to 15%. (Modine Q2 fiscal 2027 release, Nov 3, 2026; Modine Q2 fiscal 2027 earnings presentation, Nov 4, 2026)

The guidance assumes interest expense of about $26 to $30 million, a tax provision of about $95 to $105 million, and depreciation and amortization of about $56 to $61 million for the remaining businesses. Modine also expects about $20 to $25 million of additional Gentherm transaction costs in the second half of fiscal 2027, and said it would give longer-term targets at an Analyst and Investor Day on November 18. (Modine Q2 fiscal 2027 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Modine, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Modine's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MOD is on is MOD a buy or a sell?, what analysts expect next is on the MOD forecast, and what the company does is on the Modine Manufacturing (MOD) stock page.

Every number on this page can be traced to a document Modine published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.