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Thermon Group Holdings, Inc. (NYSE: THR) is a premier provider of engineered thermal solutions, serving process industries worldwide since 1954. Headquartered in Austin, Texas, Thermon specializes exclusively in heat tracing – the external application of heat to pipes, tanks, and instrumentation – ensuring critical process temperature maintenance and freeze protection. The company's extensive product portfolio includes electric heat tracing cables, steam tracing components, tubing bundles, and sophisticated instrument and control products.
Recognized as a global leader in heat tracing technology, Thermon offers a comprehensive suite of solutions that optimize the total cost of ownership for its clients. The company serves a diverse customer base that includes large engineering, procurement, and construction companies, oil and gas enterprises, commercial subcontractors, and electrical component distributors, with significant sales in the United States, Canada, and Europe.
Thermon's innovative design and engineering services are supported by state-of-the-art manufacturing facilities equipped with patented processes utilizing computer-controlled equipment and laser technology. Recent achievements include sustained growth in revenue, net income, and earnings per share (EPS), reflecting the successful execution of its strategic initiatives and steady demand across various end markets.
The company's noteworthy projects include the acquisition of Vapor Power, which has augmented its capabilities in electric- and gas-fired boilers, and the expansion of the Genesis Network, a digital solution for heat trace system controls and monitoring. Thermon's commitment to decarbonization and environmental monitoring solutions underscores its forward-thinking approach and adaptability to industry trends.
Financially robust, Thermon reported record revenue and adjusted EPS for Fiscal 2024, bolstered by strategic investments and a solid balance sheet. The company's recent authorization of a $50 million share repurchase program further demonstrates its commitment to enhancing shareholder value.
As Thermon continues to innovate and expand, it is well-positioned to capitalize on future opportunities in industrial process heating, maintaining its leadership in the industry and ensuring reliable, safe, and efficient thermal solutions for its global clientele.
Thermon Group Holdings reported Q2 FY2025 results with revenue of $114.6 million, down 7.4% year-over-year. Net income decreased 35.4% to $9.5 million, with earnings per diluted share of $0.28. The company saw strong order growth of 12.6% to $131.1 million, resulting in a book-to-bill ratio of 1.14x and record backlog of $215 million. Due to project delays and macro uncertainty, Thermon updated its FY2025 guidance to revenue of $495-515 million and Adjusted EBITDA of $105-110 million. The company maintains a strong balance sheet with net leverage of 1.3x and total liquidity of $129.8 million.
Thermon (NYSE:THR) reported Q2 FY2025 results with revenue of $114.6 million, down 7.4% year-over-year. Net income decreased 35.4% to $9.5 million, with earnings per diluted share of $0.28. The company saw strong order growth of 12.6% to $131.1 million, achieving a book-to-bill ratio of 1.14x and record backlog of $215 million.
Due to extended backlog conversion timing and large project delays, Thermon updated its FY2025 guidance, lowering revenue expectations to $495-515 million. The company maintains strong financial position with net leverage of 1.3x and total cash and available liquidity of $129.8 million.
Thermon Group Holdings (NYSE:THR) announced it will release its second quarter fiscal 2025 financial results for the period ended September 30, 2024, before market opening on Thursday, November 7, 2024. The company will host a conference call and webcast at 10:00 a.m. Central Time, featuring President and CEO Bruce Thames and CFO Jan Schott. Investment professionals can participate in the Q&A session by dialing specific numbers for US/Canada and international callers. A replay will be available on Thermon's investor relations website after the call.
Thermon Group Holdings, Inc. (NYSE:THR) has announced the acquisition of Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.), a Milan-based manufacturer of electric heaters for industrial applications. F.A.T.I. is a leading designer and manufacturer of electrical heaters and heating systems for various industrial end markets, including oil & gas, pharmaceutical, renewables, nuclear, and HVAC.
The acquisition is expected to broaden Thermon's geographic footprint and strengthen its platform to better serve the growing global market for electrification and decarbonization solutions. F.A.T.I.'s manufacturing facility in Milan and its extensive list of European certifications are seen as strategic assets for Thermon's expansion in Europe and Asia.
F.A.T.I. reported revenue of over 12 million euro in the calendar year ended December 31, 2023. The purchase price of 12.5 million euro, subject to customary adjustments, was funded with cash on hand.
Thermon Group Holdings, Inc. (NYSE:THR) has announced two key additions to its senior leadership team. Jan L. Schott will join as Senior Vice President and Chief Financial Officer, effective October 14, 2024. Schott brings over 30 years of global financial, commercial, and operational experience, with a deep background in energy verticals. Greg Lucas has been promoted to Vice President and Chief Accounting Officer, effective the same date.
Schott previously served as EVP and CFO at TG Natural Resources, where she led multi-billion dollar financings and oversaw a $3.0 billion acquisition integration. Lucas has been with Thermon since 2020, managing the company's accounting and financial reporting organization. Both executives are certified public accountants with strong educational backgrounds.
Bruce Thames, President and CEO of Thermon, expressed confidence in the new appointments, highlighting Schott's expertise in financial management and Lucas's contributions to the company's financial reporting and accounting team.
Thermon Group Holdings (NYSE: THR) reported its Q1 2025 results, with revenue rising by 7.7% to $115.1 million and gross profit increasing by 6.6% to $50.4 million. The gross margin was 43.8%. Despite a 22% drop in net income to $8.5 million, adjusted net income stood at $13.1 million. Adjusted EBITDA saw a 5% improvement to $23.2 million, with new orders climbing by 11.5% to $127.2 million, and a book-to-bill ratio of 1.1x. The company reiterated its full-year Fiscal 2025 guidance. Key factors included strong execution, the successful integration of Vapor Power, and disciplined financial management. However, large project revenue declined by 34%, causing a 5.3% dip in organic sales. The company emphasized benefits from focusing on maintenance and repair spending, achieving strategic diversification, and maintaining a robust balance sheet with $141.8 million liquidity and reduced net debt of $120 million.
Thermon Group Holdings, Inc. (NYSE:THR) has announced its upcoming first quarter fiscal 2025 earnings conference call, scheduled for August 7, 2024. The company will release its consolidated financial results for the quarter ended June 30, 2024, before the market opens on that day. Following the earnings release, Bruce Thames, President and CEO, and Greg Lucas, VP of Corporate Controller, will host a conference call at 10:00 a.m. Central Time.
The call will be simultaneously webcast on Thermon's investor relations website. Investment professionals can participate in the Q&A session by dialing specific numbers for US/Canada and international callers. A replay of the call will be available on the company's investor relations website after its conclusion.
Thermon (NYSE: THR) announced its Q4 and Fiscal 2024 results, reporting record annual revenue of $494.6 million, up 12%, driven by diversified end markets and decarbonization projects. Q4 revenue grew 4% to $127.7 million. GAAP EPS rose by 26% to $0.29 in Q4, with a net income increase of 31% to $10.1 million. However, Adjusted EPS fell by 17% to $0.34. Annual net income increased by 53% to $51.6 million, and Adjusted EBITDA rose 12% to $104.2 million. Fiscal 2025 revenue is projected between $527 million and $553 million, with GAAP EPS of $1.57-$1.73 and Adjusted EPS of $1.90-$2.06. Thermon maintained a strong balance sheet with $141.3 million in liquidity, though net debt-to-adjusted EBITDA increased to 1.2x. The company completed the acquisition of Vapor Power and exited its Russian operations. Key challenges include a 12% drop in Q4 bookings and a gross margin contraction by 110 basis points.
Thermon (NYSE: THR) will release its consolidated financial results for the fiscal year ending March 31, 2024, on May 29, 2024, before market opening. The earnings report will be followed by a conference call at 10:00 a.m. Central Time, hosted by CEO Bruce Thames and VP Greg Lucas, accessible via webcast on Thermon's investor relations website. Investment community professionals can join the Q&A session by calling specified numbers. A replay will also be available on the investor relations site.
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