RACINE, Wis. - Modine (NYSE:MOD) Manufacturing Company (NYSE: MOD), a leading provider of thermal management solutions with a market capitalization of $4.58 billion, has announced a change in leadership for its Performance Technologies segment. Adrian I. Peace will step down from his role as President of the segment and will leave the company on September 30, 2025. Neil D. Brinker, Modine’s President and CEO, will oversee the segment on an interim basis until a successor is found. According to InvestingPro data, the company maintains a strong financial health score, reflecting its solid market position.
The company expressed gratitude to Peace for his contributions and emphasized that its strategic plans for the Performance Technologies segment remain on course. Under the 80/20 processes, Modine aims to reposition the business towards a higher growth and margin mix. The company anticipates achieving 15% to 18% adjusted EBITDA margins in the next two years. With current annual revenue of $2.54 billion and EBITDA of $358.4 million, InvestingPro analysis shows the company is well-positioned to meet these targets, despite recent stock volatility.
Modine, with a history extending over a century, specializes in thermal management technology, offering solutions that improve air quality and conserve natural resources. The company employs over 11,000 people globally and operates in various regions, including North America, South America, Europe, and Asia.
The company’s forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, outline expectations for future financial performance and market conditions. However, actual results may differ due to risks and uncertainties detailed in the company’s SEC filings, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Modine’s search for a new leader for the Performance Technologies segment is set to begin soon. This announcement is based on a press release statement from Modine.
In other recent news, Modine Manufacturing has reported its fiscal third-quarter 2025 results, surpassing both earnings and revenue expectations, largely due to strong performance in its data center segment. The company has confirmed its outlook for fiscal year 2025, maintaining confidence in its growth projections through fiscal year 2027. Analysts from Oppenheimer have maintained an Outperform rating on Modine, setting a $145 price target, citing visibility for growth in the data center market over the next 12 to 18 months. Modine is also addressing revenue pressures in cyclical markets by implementing its 80/20 strategy to enhance profit margins.
Additionally, Modine announced plans to open a new manufacturing facility in Chennai, India, by mid-2025. This new plant will focus on producing advanced cooling technologies for the data center market and cooling modules for stationary power generation equipment. The expansion is part of Modine’s strategy to meet the growing demand for data center cooling solutions, driven by high-performance computing and AI. The Chennai facility will be Modine’s second in India, complementing its existing operations focused on cooling solutions for various industries. This move is seen as a strategic expansion to leverage India’s skilled labor force and connectivity to serve the data center industry across Asia and the Middle East.
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