Modine’s November 3, 2026 release reports $994.4 million in sales for its fiscal second quarter, ended September 30. The updated full-year sales outlook is $3.1 billion to $3.2 billion. The two figures cover different periods and different sets of businesses, so comparing them starts with the reporting scope.
Modine’s fiscal second-quarter release and outlook
Put the spin-off date next to the quarter end
The quarter ended September 30, and Modine completed the Performance Technologies spin-off on October 1. Performance Technologies therefore still appears in the reported quarter’s segment review. Modine says it will report historical results for that business as discontinued operations starting in the third fiscal quarter.
Check which businesses the forecast covers
The July first-quarter release explicitly included Performance Technologies for the full fiscal year in its outlook. The November outlook covers the continuing business. Its 50% to 55% expected sales growth excludes Performance Technologies from both periods. A comparison of the July and November dollar ranges alone would mix the change in scope with any change in expectations for the continuing businesses.
Modine’s July release: earlier outlook scope
Build a comparison you can reproduce
Imagine a fictional equipment supplier that reports quarterly sales of 100 units, including 30 from a business it later spins off. Its new annual forecast covers only the business it keeps. Multiplying the 100 by four would carry the separated business into all four quarters and assume that each quarter is identical. Neither assumption follows from the reported result.
In a reading worksheet, label each figure with the period, whether it is an actual result or a forecast, and which businesses it includes. For a growth comparison, start with figures that cover the same businesses in both periods. If you need to reconcile segment sales with consolidated sales, use the company’s reconciliation rather than assuming a single subtraction handles any intersegment amounts.
The takeaway for readers following the cooling equipment business is to keep reported results and the continuing-business forecast in separate rows. A forecast is management’s expectation, not realized revenue.