Reports Q1 revenue $622.4M, up 15% from the prior year. “This was an incredible quarter for Modine, with record revenue and significant margin expansion, as both segments exceeded expectations by driving strong growth and operational improvements. The benefits of the 80/20 activities taken to transform our business are coming earlier than we originally planned, leading to our first quarter results being stronger than expected. In particular, I am extremely proud of the Performance Technologies team, who are embracing 80/20 principles to improve commercial terms while continuing to deliver value to our customers. The Data Center vertical also had a strong quarter, with orders materializing earlier than expected. We are still in the early stages of our transformation journey, with further opportunities for margin improvement while we invest for future growth in our most attractive markets,” said Modine President and CEO Neil Brinker.
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