Modine Manufacturing

Q1 FY2027 EarningsQ1 FY27 revenue reached $874.1M, up 28% YoY, primarily driven by a 90% surge in Data Centers revenue to $348.6M. Gross margin contracted 340bps to 20.8% due to rapid capacity expansion costs and supplier constraints. Net earnings rose 44% to $73.9M, significantly bolstered by a $26.5M tax benefit from stock-based compensation. The company announced a strategic spin-off of its Performance Technologies segment via a Reverse Morris Trust to become a pure-play climate solutions provider.