Modine Books Record $1 Billion in Quarterly Data Center Orders

Modine Manufacturing booked more than $1 billion in Data Centers orders in its fiscal second quarter, setting a fourth consecutive quarterly record as demand for cooling equipment grew with AI-focused data center expansion.

The quarter ended Sept. 30, and Modine disclosed the results Nov. 3. Data Centers sales rose 95% year over year to $439.7 million, with higher sales to hyperscale customers in North America driving much of the increase. Sales in the Americas grew 132% year over year, and the segment posted an adjusted EBITDA margin of 15.4%.

The quarter included a $400 million program award from a major hyperscale customer. The award covers custom air handling units through calendar 2027. Modine sells both air and liquid cooling solutions for data centers.

Companywide net sales increased 35% to $994.4 million. The results followed the Oct. 1 spin-off of Performance Technologies, which was combined with Gentherm. Modine’s continuing operations now focus on Data Centers and Commercial HVAC.

Modine raised its fiscal 2027 outlook for continuing operations to sales of $3.1 billion to $3.2 billion and adjusted EBITDA of $470 million to $500 million. The sales range represents expected growth of 50% to 55%. The outlook excludes Performance Technologies.

For the year, Modine projects Data Centers revenue growth of 80% to 90% and Commercial HVAC growth of 10% to 15%. The company has begun investing in additional capacity, including plans to expand its chiller plant in Franklin, Wisconsin.