Welcome to our dedicated page for Thermon Group Hldgs news (Ticker: THR), a resource for investors and traders seeking the latest updates and insights on Thermon Group Hldgs stock.
About Thermon Group Holdings Inc (THR)
Thermon Group Holdings Inc is an established provider of engineered thermal solutions, focusing on industrial process heating and heat tracing technologies. With a heritage dating back to 1954, the company has devoted itself exclusively to the design and application of heat tracing techniques that protect pipelines, tanks, and instrumentation. This specialized focus not only reinforces its expertise in temperature maintenance and freeze protection, but also underlines its commitment to cost-of-ownership optimization for customers in industrial sectors.
Core Business Areas and Expertise
Thermon has built a comprehensive product portfolio that includes electric heat tracing cables, steam tracing components, tubing bundles, and various instrumentation and control products. By combining these products with turnkey design and engineering services, Thermon delivers complete thermal management solutions essential for ensuring the safe and efficient operation of industrial processes. The company leverages state-of-the-art manufacturing techniques and patented processes, underscored by computer-controlled equipment and laser technology, to uphold the highest quality standards.
Global Reach and Operational Excellence
With a robust global network, Thermon operates design, manufacturing, and warehouse facilities worldwide. This global presence enhances its ability to serve a diverse customer base that includes major engineering, procurement and construction firms, oil and gas companies, and electrical component distributors. The company’s strategy revolves around continuous improvement and operational excellence, ensuring that every aspect of a project is optimized to reduce both installation and long-term maintenance costs.
Market Position and Product Differentiation
Thermon occupies a unique position as the only international company completely dedicated to the heat tracing industry. Its deep technical expertise is complemented by a broad range of products and innovative design tools that lead to higher system reliability and performance. This specialization enables Thermon to craft solutions tailored to specific industrial applications, mitigating the risks associated with temperature fluctuations and ensuring uninterrupted process operations.
Customer Focus and Engineering Solutions
The company’s customer-centric approach is evident in its partnerships with leading engineering and industrial companies. By providing detailed design analyses and integrated engineering services, Thermon helps its clients achieve enhanced process efficiency, improved safety, and optimized energy use. Its comprehensive approach considers every aspect of thermal management, delivering solutions that are both technically robust and economically advantageous.
Commitment to Innovation and Digital Transformation
To stay ahead in a competitive industrial landscape, Thermon continuously invests in research and digital transformation initiatives. This includes the development of digital control systems for heat trace monitoring, which enhance the reliability and flexibility of thermal solutions. Such innovations reinforce the company’s position as a provider of cutting-edge, mission-critical solutions that cater to evolving market needs.
Industry Keywords and Strategic Advantages
Key industry-specific terms such as industrial process heating, heat tracing technologies, and engineered thermal solutions are integral to Thermon’s brand identity. This focus not only differentiates the company from competitors but also establishes it as a trusted authority in its field. With an emphasis on safety, quality, and efficiency, Thermon continues to support end users worldwide by delivering reliable and innovative thermal management solutions.
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.
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.
FAQ
What is the current stock price of Thermon Group Hldgs (THR)?
What is the market cap of Thermon Group Hldgs (THR)?
What is the core business of Thermon Group Holdings Inc?
What types of products does Thermon offer?
Who are Thermon’s primary customers?
How does Thermon differentiate itself in the marketplace?
What is the significance of Thermon’s global network?
How does Thermon optimize the cost of ownership for its customers?
What role does innovation play in Thermon’s strategy?
In which regions does Thermon primarily operate?
