Filing Flows › Modine Manufacturing (MOD) › Q2 FY26
Modine Manufacturing (MOD) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Oct 29, 2025
Modine Manufacturing (MOD) reported revenue of $739M for the second quarter fiscal 2026 (Q2 FY26), +12% from a year earlier and +8% from the quarter before. Operating margin was 9.9%, net earnings $44.8M (6.1% of revenue).
Modine Manufacturing, Q2 FY26: revenue $739M (+12% year over year), operating margin 9.9%, net earnings $44.8M, operating cash flow $1.4M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $739M | +8% | +12% |
| Gross profit | $165M | -0.3% | -0.4% |
| Operating profit | $73.5M | -3% | -2% |
| Net earnings | $44.8M | -13% | -3% |
| Operating cash flow | $1.4M | -95% | -98% |
What changed
Revenue was $738.9M in Q2 FY26, up 12% year over year and up 8% from the previous quarter. Data Centers was the largest line at 31% of revenue. Data Centers added $67.4M year over year (up 42%), 83% of the total change. On-highway applications declined 3%.
Gross margin was 22.3%, down 2.9 points from a year earlier. Operating profit was $73.5M, a 9.9% margin (down 1.5 points year over year). Operating profit fell $1.8M even though revenue rose $80.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 1% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+60%). Net earnings were $44.4M, down 4% year over year. The effective tax rate was 29.7%.
Operating cash flow was $1.4M (down 98% year over year), 3% of net earnings. Non-cash charges added back $19.7M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $65.2M. Capital expenditures of $31.9M exceeded it, leaving free cash flow of −$30.5M.
Questions
What was Modine Manufacturing's revenue in the second quarter fiscal 2026?
Modine Manufacturing (MOD) reported revenue of $739M for the second quarter fiscal 2026 (Q2 FY26), +12% from a year earlier and +8% from the quarter before.
Was Modine Manufacturing profitable in the second quarter fiscal 2026?
Operating profit was $73.5M (9.9% of revenue) and net earnings $44.8M.