Modine Reports Record $1 Billion Quarterly Order Intake Driven by Data Center Demand
Modine (MOD) reported strong second-quarter fiscal 2027 results, highlighted by a historic milestone of exceeding $1 billion in quarterly order intake for the first time. The company's growth is being aggressively driven by the surge in artificial intelligence workloads, which has caused data center segment sales to increase by 95% compared to the previous year. To capitalize on this demand, Modine has restructured its business by spinning off its Performance Technologies segment to focus exclusively on high-margin industrial thermal management. Management is also addressing material cost inflation through long-term agreements and price increases, while simultaneously ramping up manufacturing capacity for specialized cooling equipment to meet a backlog that extends beyond two years.