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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 a strong Q1 2023 with revenue of $95.4 million, a 34% increase from $71.2 million in Q1 2022. The company achieved net income of $6.6 million versus a net loss of $(0.3) million during the same period last year. Adjusted EBITDA soared by 106% to $16.6 million. Key metrics included a backlog of $165 million, a 43% year-over-year increase, and a book to bill ratio of 1.16x. Following this performance, Thermon revised its Fiscal 2023 revenue guidance to $380-$405 million, including $18 million from the recent Powerblanket acquisition.
Thermon Group Holdings (NYSE:THR) will announce its financial results for the first quarter ending June 30, 2022, on August 4, 2022, before market opens. A conference call will follow at 10:00 a.m. CT, featuring CEO Bruce Thames and CFO Kevin Fox. Participants can join by phone or via a webcast on Thermon's investor relations site. The company provides essential industrial heating solutions, ensuring flow assurance and freeze protection across various sectors. More details can be found on their website.
Thermon Group Holdings, Inc. (NYSE:THR) announced the acquisition of Powerblanket, a North American supplier of heated blankets and chillers, to enhance its position in industrial markets. The deal aims to leverage Powerblanket's patented technology and expertise, expected to be accretive to GAAP earnings per share in the first year. Powerblanket had revenues over $17 million in the fiscal year ending March 31, 2022. Thermon plans to utilize Powerblanket's online platform to expand product access, with the acquisition funded by cash and credit facilities.
Thermon Group Holdings (NYSE:THR) reported strong Q4 2022 results with revenue up 40% to $102.6 million, driven by North American strength. Fiscal 2022 revenue increased 29% to $355.7 million, with net income reaching $20.1 million. Adjusted EBITDA grew 61% to $58.5 million. Orders surged 39%, and backlog rose 37% to $156.2 million. Guidance for Fiscal 2023 expects revenue of $350-$380 million and EPS of $0.74-$0.89, indicating growth despite excluding a one-time contract. Management emphasized progress in diverse markets and technology-enabled services.
Thermon Group Holdings (NYSE:THR) will announce its fiscal year 2022 financial results on May 26, 2022, before market opening. The release will be followed by a conference call at 10:00 a.m. CT, where CEO Bruce Thames and CFO Kevin Fox will address questions from the investment community. Interested parties can join by calling (877) 407-5976 within the U.S. and (412) 902-0031 internationally. The event will also be available via webcast on Thermon's investor relations website.
Thermon Group Holdings, Inc. (NYSE:THR) reported significant growth in its Q3 2022 results, with revenues reaching $100.6 million, marking a 26% increase from $79.6 million in Q3 2021. Net income surged 82% to $11.3 million and EPS increased to $0.33 compared to $0.18 last year. Driven by strong North American customer demand, orders were up 31% with a book-to-bill ratio of 1.02x. The company raised its full-year revenue guidance to $342-$350 million. Backlog rose 32% to $145.7 million.
Thermon Group Holdings (NYSE:THR) has announced the date for its third-quarter fiscal 2022 earnings release, which will occur before the market opens on February 3, 2022. Following the release, a conference call will be held at 10:00 a.m. Central Time, featuring President Bruce Thames and CFO Kevin Fox. Interested participants can join via specific dialing options and find further details on Thermon's investor relations website. The company offers critical industrial heating solutions, headquartered in Austin, Texas.
Thermon Group Holdings (NYSE:THR) announced on January 20, 2022, the appointment of Roberto Kuahara as Senior Vice President of Operations, effective February 14, 2022. He succeeds Rene van der Salm, who has served in this role for 20 years. Kuahara brings over 30 years of experience in manufacturing operations, having held key positions at SPM Oil & Gas and the Weir Group. CEO Bruce Thames highlighted Kuahara's expertise in operational excellence and strategic growth, emphasizing his role in enhancing productivity and expanding margins.
Thermon Group Holdings reported a 22% revenue growth in Q2 2022 with revenues of $81.3 million, up from $66.4 million in Q2 2021. Orders surged by 59%, including a significant one-time contract exceeding $20 million in North America. The company raised its full-year revenue guidance to $330-$345 million due to robust backlog and order trends. However, gross margin decreased to 39% from 43.6% in the prior year, with net income at $0.5 million compared to $1.8 million in Q2 2021.
Thermon Group Holdings (NYSE:THR) plans to release its financial results for the second quarter ending September 30, 2021, on November 9, 2021, before market opening. Following the earnings announcement, a conference call will be held at 10:00 AM (Central Time) with CEO Bruce Thames and CFO Kevin Fox. The call will be webcast on Thermon's investor relations website, and a replay will be available later. Thermon specializes in industrial process heating solutions globally.
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