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THERMON GROUP HOLDINGS, INC. - THR STOCK NEWS

Welcome to our dedicated page for THERMON GROUP HOLDINGS news (Ticker: THR), a resource for investors and traders seeking the latest updates and insights on THERMON GROUP HOLDINGS stock.

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.

News

Thermon Announces Inaugural $50 Million Share Repurchase Program

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Thermon Group Holdings, Inc. (THR) announces a $50 million share repurchase program until March 15, 2027. The move reflects the company's confidence in its long-term strategy and growth trajectory, aiming to offset dilution and create value for stockholders through disciplined capital allocation. The program allows flexibility for opportunistic share repurchases based on market conditions and the company's capital needs.
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CORRECTION FROM SOURCE: Thermon Reports Third Quarter Fiscal 2024 Results

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Thermon Group Holdings, Inc. (THR) announced Q3 2024 financial results, reporting record revenue of $136.4 million, an 12% increase. GAAP EPS was $0.46, and non-GAAP adjusted EPS was $0.59, an 86% and 13% increase, respectively. The company achieved net income of $15.8 million, an 88% increase, and Adjusted EBITDA of $30.7 million, a 3% increase. Thermon also closed the acquisition of Vapor Power, raising FY 2024 revenue guidance to approximately $490 - $500 million. However, the company experienced a decrease in backlog and orders in Q3 2024 compared to Q3 2023.
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Thermon Reports Third Quarter Fiscal 2024 Results

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Thermon Group Holdings, Inc. (THR) reported a 12% increase in revenue, an 88% increase in net income, and an 86% increase in EPS for Q3 2024 compared to Q3 2023. The company also raised its FY 2024 revenue and EPS guidance. Thermon acquired Vapor Power to capture share in growing end-markets driven by decarbonization and electrification trends. Despite a decrease in backlog, the company maintained a strong balance sheet and flexible liquidity. The company is on track to complete its withdrawal from operations in the Russian Federation in Q4 2024.
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Thermon Schedules Third Quarter Fiscal 2024 Earnings Conference Call - February 1st, 2024

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Thermon Group Holdings, Inc. (THR) will release its Q3 2023 financial results on February 1, 2024. The company's President and CEO, Bruce Thames, and CFO, Kevin Fox, will host a conference call to discuss the results. The call will be webcast on Thermon's investor relations website. Interested parties can access the call for Q&A. A replay will be available on the website after the call.
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Thermon Acquires Vapor Power

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Thermon Group Holdings, Inc. (NYSE:THR) announced the acquisition of Vapor Power International, a leading provider of industrial process heating solutions, in a move to capture share in rapidly growing, diversified end-markets driven by decarbonization and electrification trends. Vapor Power realized revenue of over $50 million in the calendar year ended December 31, 2023, and Thermon expects the transaction to be accretive to GAAP earnings per share in the first twelve months.
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Thermon Appoints Victor L. Richey to Board of Directors

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Thermon Group Holdings, Inc. (NYSE:THR) announced the appointment of Victor L. Richey, retired Chairman and CEO of ESCO Technologies, Inc (NYSE: ESE), to its board of directors. Mr. Richey's addition is part of the Board's ongoing succession planning efforts. Thermon's Chairman of the Board, John U. Clarke, expressed delight in welcoming Vic to the Board, citing his proven success and relevant experience. Mr. Richey expressed his excitement about working with the Thermon Board and management, highlighting the significant progress made by the company in transforming its business. Thermon CEO Bruce Thames emphasized Vic's importance as an asset for the Board, citing his knowledge of targeted end-markets and insights into strategic acquisitions.
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Thermon to Host 2023 Investor Day

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Thermon Group Holdings, Inc. (NYSE:THR) announces its inaugural investor day in New York City, focusing on creating long-term shareholder value and increasing fiscal 2026 financial targets. The event will provide insight into the company's strategy, financial performance, energy transition, innovation, and operational excellence. Thermon also updates its FY2026 Financial Goals, including a revenue target of $600-700 million and a non-oil & gas revenue goal of ~70%, aiming for an adjusted EBITDA margin of ~24%.
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Thermon Announces John U. Clarke to Succeed John Nesser as Chairman of Thermon Board of Directors

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Thermon Group Holdings, Inc. (NYSE:THR) announces the appointment of John U. Clarke as non-executive chairman of the board, succeeding John Nesser. The company expresses gratitude to Nesser for his contributions and looks forward to Clarke's leadership. Clarke's deep understanding of the business and proven leadership make him an exciting choice for the position.
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Thermon Reports Second Quarter Fiscal 2024 Results

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Thermon Group Holdings, Inc. (NYSE:THR) announced its Q2 2024 financial results, reporting record revenue of $123.7 million, an increase of 23% compared to Q2 2023. The company achieved fully diluted GAAP EPS of $0.43 and record non-GAAP adjusted EPS of $0.49, an increase of 33% and 30% respectively. Net income was $14.7 million, a 34% increase, and adjusted EBITDA was $27.7 million, a 27% increase. Thermon also reached bookings of $116.4 million, a 22% increase.
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Thermon Schedules Second Quarter Fiscal 2024 Earnings Conference Call - November 2, 2023

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Thermon Group Holdings, Inc. will release its Q2 financial results on November 2, 2023. A conference call will be held afterwards, hosted by the President, CEO, and CFO. The call will be webcasted on Thermon's investor relations website.
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FAQ

What is the current stock price of THERMON GROUP HOLDINGS (THR)?

The current stock price of THERMON GROUP HOLDINGS (THR) is $31.97 as of November 22, 2024.

What is the market cap of THERMON GROUP HOLDINGS (THR)?

The market cap of THERMON GROUP HOLDINGS (THR) is approximately 1.1B.

What does Thermon Group Holdings, Inc. specialize in?

Thermon specializes in heat tracing, providing engineered thermal solutions for process industries, including electric and steam tracing, and advanced temperature maintenance systems.

Where is Thermon Group Holdings, Inc. headquartered?

Thermon is headquartered in Austin, Texas.

What are some key products offered by Thermon?

Key products include electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products.

Who are Thermon's primary customers?

Thermon's customers include large EPC companies, oil and gas companies, commercial subcontractors, and electrical component distributors.

What recent acquisitions has Thermon made?

Thermon recently acquired Vapor Power, enhancing its product offerings with electric- and gas-fired boilers.

What financial achievements did Thermon report for Fiscal 2024?

Thermon reported record revenue and adjusted EPS for Fiscal 2024, driven by strategic investments and strong demand across diversified markets.

What is the Genesis Network?

The Genesis Network is Thermon's digital solution for heat trace system controls and monitoring.

How is Thermon addressing environmental and decarbonization efforts?

Thermon is focusing on decarbonization opportunities and expanding its environmental monitoring solutions, which constitute a growing part of its revenue pipeline.

What is the significance of Thermon's $50 million share repurchase program?

The share repurchase program reflects Thermon's commitment to enhancing shareholder value and confidence in its long-term strategy.

What are Thermon's key markets?

Thermon's key markets include the United States, Canada, and Europe, with diversified end markets such as chemical, power, commercial, food & beverage, and rail & transit.

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THERMON GROUP HOLDINGS, INC.

NYSE:THR

THR Rankings

#2523 Ranked by Market Cap
N/A Ranked by Dividends

THR Stock Data

1.06B
32.93M
2.05%
96.89%
1.3%
Specialty Industrial Machinery
Electrical Industrial Apparatus
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United States of America
AUSTIN