Modine and JBT Marel to Report Results on 3 November
Key Facts
Modine and JBT Marel have set 3 November 2026 to release their financial results, according to official announcements from both companies, following growth in their sales and Modine's earnings in the previous period. JBT Marel will report third-quarter results before the U.S. market opens. Modine will release results for the second quarter of its fiscal year 2027 after the market closes. Modine's sales reached $874.1 million in the preceding fiscal first quarter, up 28% year on year, according to the company's earnings release. Net income rose to $74.3 million in the same period, an increase of 44% year on year.
Modine's data center business drove growth, with revenue rising 90% year on year in the fiscal first quarter, compared with a 22% increase in commercial heating, ventilation and air conditioning revenue. The company attributed data center growth primarily to hyperscale customers in North America. However, supply constraints temporarily limited production and profit margins, according to the company. Modine also entered into an agreement with a strategic data center customer to reserve production capacity to supply more than $4 billion worth of Airedale cooling products. The agreement covers calendar years 2027 to 2029. Ahead of the upcoming earnings release, Modine completed the separation of its Performance Technologies business and its merger with Gentherm, as part of a shift in its portfolio toward data center cooling, commercial air conditioning and refrigeration. As part of the transaction, it received a cash distribution of about $156 million from the separated company and used it to repay outstanding debt.
JBT Marel's revenue for the second quarter of 2026 was about $981 million, up 5% year on year, according to the company's earnings release. The increase included a benefit of nearly 2% from foreign currency translation. Its order backlog at the end of the previous quarter stood at $1.54 billion, a level the company described as a record. Chief Executive Brian Deck acknowledged "some operational inefficiencies and logistical constraints" in the Prepared Foods and Beverages segment during that quarter. Nevertheless, in its previous earnings announcement, the company maintained its fiscal year 2026 revenue forecast in a range of $3,990 million to $4,065 million.
JBT Marel will hold its earnings call on the day of the release at 11:00 a.m. U.S. Eastern Time. That corresponds to 16:00 GMT, according to the company's announcement. Modine will hold its earnings call on 4 November 2026, the day after releasing its figures. The company will later host an analyst and investor day in Chicago on 18 November 2026. It plans to update its multiyear growth strategy and financial targets following the separation of its Performance Technologies business.