DivestmentJul 24, 2026, 04:08 PM
Modine Realigns Segments, Recasts FY26 Financials for Spin-off
AI Summary
Modine Manufacturing Company reorganized its Climate Solutions segment into Data Centers and Commercial HVAC, effective April 1, 2026. The company will now report three segments: Data Centers, Commercial HVAC, and Performance Technologies. This realignment supports its 80/20 strategy and growth opportunities, especially in Data Centers. The company also provided recast unaudited historical segment financials for fiscal year 2026, reflecting the new structure, ahead of the planned spin-off of its Performance Technologies segment to Gentherm Incorporated by the end of calendar 2026.
Key Highlights
- Modine reorganized its Climate Solutions segment into Data Centers and Commercial HVAC, effective April 1, 2026.
- The company will report three segments: Data Centers, Commercial HVAC, and Performance Technologies, starting Q1 fiscal 2027.
- The Performance Technologies segment is planned to be spun off and combined with Gentherm Incorporated by end of calendar 2026.
- For fiscal year 2026, Data Centers net sales were $1,108.2 million.
- For fiscal year 2026, Commercial HVAC net sales were $973.8 million.
- For fiscal year 2026, Performance Technologies net sales were $1,131.8 million.
- Total company net sales for fiscal year 2026 were $3,181.1 million.
- Total company Adjusted EBITDA for fiscal year 2026 was $471.0 million.
Price Impact
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