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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, Inc. (THR) reported a 21% revenue increase for Q3 2023, reaching $122.1 million. The company attributed this growth to strong sales in the US, Canada, and Latin America. Despite a total pretax charge of $8.3 million related to exiting the Russian market, GAAP net income was $8.4 million with diluted EPS of $0.25, affected by $0.22 from Russia-related charges. Thermon raised its full-year guidance, projecting revenues between $429-$437 million and GAAP EPS of $1.11-$1.15. The company also reported record bookings of $126 million, a 40% increase year-over-year.
Thermon Group Holdings, Inc. (NYSE:THR) will announce its consolidated financial results for the third quarter ending December 31, 2022, on February 2, 2023, before market opening. A conference call will follow at 10:00 a.m. Central Time, led by CEO Bruce Thames and CFO Kevin Fox, with a simultaneous webcast available on Thermon's investor relations website. Interested participants can join by calling specific numbers based on their location. For further details and a replay of the call, visit the investor relations site.
Thermon Group Holdings reported a 24% revenue increase in Q2 2023, totaling $100.6 million, driven by growth in the US, Canada, and Latin America. Net income surged 2,203% to $11.0 million, while adjusted EBITDA grew 92% to $21.9 million. The company raised its full-year revenue guidance to $405-$420 million and expects GAAP EPS between $1.08-$1.17. Despite strong performance, sales orders decreased by 21% from the previous year.
Thermon Group Holdings, Inc. (NYSE:THR) will release its consolidated financial results for Q2 ending September 30, 2022, before market opens on November 3, 2022. Following the earnings announcement, a conference call will be held at 10:00 a.m. (Central Time) with CEO Bruce Thames and CFO Kevin Fox. Interested participants can dial in to join the Q&A session. The call will also be webcast on Thermon's investor relations site. A replay will be available post-call. Thermon specializes in industrial process heating solutions from its headquarters in Austin, Texas.
Thermon Group Holdings (NYSE:THR) announced the appointment of Dr. Angela Strzelecki to its board of directors, enhancing board diversity and bringing significant industry experience. Strzelecki, currently President of the Pharmaceutical Solutions Division at International Flavors & Fragrances (NYSE:IFF), has a robust track record in managing complex global businesses. The appointment aligns with Thermon's plans for growth and diversification. The board now consists of seven independent directors, emphasizing a commitment to inclusiveness and strategic development.
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