Modine Shares Soar 17% to Record High on $4B Data Center Cooling Deal
MOD has more than doubled off its 52-week low of $86.485 on elevated volume (2.5× avg).
Summary
Modine Manufacturing secured a significant $4 billion long-term agreement to supply data center cooling products from 2027 to 2029. The company received a $165 million upfront cash payment to support capacity investments. This news, following an earlier announcement today, sent shares up 17% to an all-time high. The deal provides substantial revenue visibility and validates Modine's strategic focus on the growing data center market. The upfront payment also strengthens liquidity and supports future growth.
At the time of this announcement, MOD was trading at $304.84 on NYSE in the Manufacturing sector, with a market capitalization of approximately $16.1B. The 52-week trading range was $86.48 to $323.25. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.