The auto thermal management firm raises its adjusted EBITDA target as data center sales growth accelerates to 60%-80% of revenue.
Modine Manufacturing raised its fiscal 2027 adjusted EBITDA forecast to a range of $650M-$680M, up from prior guidance. The increase reflects stronger demand for data center cooling solutions, now expected to account for 60%-80% of sales growth.
The company reported record revenue and adjusted EBITDA for the fourth consecutive year in fiscal 2026. Three strategic acquisitions contributed $119 million in incremental revenue, bolstering its thermal management portfolio.
Management cited robust data center expansion as a key driver, aligning with broader industry trends in AI and cloud computing infrastructure.