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RACINE, Wis. - Modine Manufacturing Co. (NYSE:MOD) reported better-than-expected fourth quarter results and provided an outlook for fiscal 2026 sales growth, sending shares up 2.2% in after-hours trading.
The thermal management technology company posted adjusted earnings per share of $1.12 for the quarter ended March 31, exceeding analyst estimates of $0.96. Revenue came in at $647.2 million, topping the consensus forecast of $634.49 million.
"Our team delivered a third consecutive year of record revenue and adjusted EBITDA in fiscal 2025, demonstrating the power of our 80/20 transformation and our ability to deliver results despite challenging conditions in our vehicular markets," said Modine President and CEO Neil D. Brinker.
Fourth quarter net sales increased 7% year-over-year, driven by 28% growth in the Climate Solutions segment. This was partially offset by an 11% decline in Performance Technologies sales due to weakness in automotive and other vehicular end markets.
For fiscal 2026, Modine expects net sales growth of 2% to 10%. The company also forecasts adjusted EBITDA of $420 million to $450 million, representing growth of 7% to 15% compared to fiscal 2025.
"We expect another strong year in the Climate Solutions segment, supported by our current order book for data center products and significant funnel of future opportunities," Brinker added.
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