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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 (NYSE:THR) announced a refinancing of its debt, reducing its annual cash interest expenses by an estimated $4 million. The company replaced its $140 million term loan B and revolving credit facility with an $80 million senior secured US term loan A, a CAD76 million senior secured Canadian term loan A, and a $100 million revolving credit facility. This move is expected to enhance Thermon's financial flexibility, supporting its goal of doubling the business within five years through investments in growth and technology.
Thermon Group Holdings reported a 25% revenue increase in Q1 2022, reaching $71.2 million compared to $56.8 million in Q1 2021. Orders rose by 19% year-over-year, with a book-to-bill ratio of 1.02x. The company achieved a GAAP net income of $0.9 million, a significant turnaround from a loss of $6.1 million in the prior year. Adjusted EBITDA surged 593% to $9.7 million. Thermon raised its full-year revenue guidance to $293-308 million, reflecting strong demand recovery.
Thermon Group Holdings, Inc. (NYSE:THR) will release its consolidated financial results for the first quarter ending June 30, 2021, on August 5, 2021. The release will precede a conference call at 10:00 a.m. CT, featuring President Bruce Thames and CFO Kevin Fox. Interested parties can join the call by dialing the provided numbers. The call will also be accessible via webcast on Thermon's investor relations website, with a replay available post-call.
Thermon Group Holdings reported its Q4 2021 and Fiscal 2021 financial results, indicating a revenue of $73.3 million in Q4, down 17% from Q4 2020, leading to a full-year comparison of $276.2 million, a 28% decline year-over-year. Despite these challenges, the company achieved $22 million in cost savings and reduced long-term debt by $27.5 million. Backlog increased by 8% to $114 million, and management anticipates revenue for FY 2022 to range between $278-295 million.
Thermon Group Holdings (NYSE:THR) plans to announce its fiscal year 2021 financial results on May 27, 2021, before market opening. The results will cover the period ending on March 31, 2021. Following the announcement, senior management will host a conference call at 10:00 a.m. CT, which will be available via webcast on Thermon's investor relations site. Interested participants can join the Q&A session by calling the provided numbers. This session will allow investors insights into the company's performance and outlook.
Thermon Group Holdings, a leader in industrial process heating, reported Q3 2021 revenue of $79.6 million, down 21% from $100.5 million in Q3 2020. Income from operations was $10.2 million with a net income of $6.2 million and fully diluted GAAP EPS of $0.18. Adjusted EPS increased to $0.30, benefiting from restructuring and government subsidies. Total orders fell 28% to $71.0 million, while backlog grew 7% to $110.1 million. Revenue guidance for Q4 is set at $69-76 million, prioritizing debt reduction.
Thermon Group Holdings, Inc. (THR) will release its financial results for Q3 2020 on February 4, 2021, before market opening. Following the release, management, including CEO Bruce Thames and CFO Jay Peterson, will host a conference call at 10:00 a.m. CT. This call will allow the investment community to engage in a Q&A session. Interested parties can listen via the company’s investor relations website. Thermon specializes in mission-critical industrial process heating solutions and is based in Austin, Texas.
Thermon Group Holdings reported Q2 2021 financial results, showing revenue of $66.4 million, a 35% decrease from Q2 2020. Net income dropped to $1.8 million with GAAP EPS at $0.06, down from $0.21 year-over-year. Adjusted EBITDA decreased 50% to $10.5 million. However, backlog increased by 16% to $118.7 million, reflecting a positive book-to-bill ratio of 1.14. The company generated $9.3 million in cash from operations and reduced SG&A costs by $9 million.
Thermon Group Holdings, Inc. (NYSE:THR) is set to release its consolidated financial results for the second quarter ending September 30, 2020, on November 5, 2020, before market opening. Following the results, a conference call will be held at 10:00 a.m. (CT), led by CEO Bruce Thames and CFO Jay Peterson. The call will also be webcast on Thermon's investor relations website. Participants can dial in via designated numbers for the Q&A session. For more details, visit Thermon's investor relations page.
Thermon Group Holdings, a leader in industrial process heating, has launched the Genesis Network, an innovative solution designed for operational awareness and control of heat trace systems. This IIoT solution aims to enhance maintenance efficiency, allowing users to monitor over 10,000 heat trace circuits seamlessly. With features like alarm management and historical analysis, the Genesis Network is set to reduce maintenance hours significantly. The platform's security is robust, ensuring data protection while offering user-friendly access from any device.
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