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.
Thermon Group Holdings, Inc. operates as a diversified industrial technology company focused on industrial process heating, temperature maintenance, environmental monitoring and temporary power distribution solutions. Its updates center on engineered heat-tracing and process-heating products, controls and monitoring software, project services, industrial heating and filtration solutions, and new product platforms such as liquid load bank solutions for data center applications.
Recurring news also covers consolidated operating results, bookings, backlog, bid activity, capital-project demand, manufacturing utilization, tariff and margin-management commentary, share repurchase activity, liquidity and leverage, and capital allocation toward organic investment and strategic acquisitions.
Thermon (NYSE: THR) announced its Q4 and Fiscal 2024 results, reporting record annual revenue of $494.6 million, up 12%, driven by diversified end markets and decarbonization projects. Q4 revenue grew 4% to $127.7 million. GAAP EPS rose by 26% to $0.29 in Q4, with a net income increase of 31% to $10.1 million. However, Adjusted EPS fell by 17% to $0.34. Annual net income increased by 53% to $51.6 million, and Adjusted EBITDA rose 12% to $104.2 million. Fiscal 2025 revenue is projected between $527 million and $553 million, with GAAP EPS of $1.57-$1.73 and Adjusted EPS of $1.90-$2.06. Thermon maintained a strong balance sheet with $141.3 million in liquidity, though net debt-to-adjusted EBITDA increased to 1.2x. The company completed the acquisition of Vapor Power and exited its Russian operations. Key challenges include a 12% drop in Q4 bookings and a gross margin contraction by 110 basis points.
Thermon (NYSE: THR) will release its consolidated financial results for the fiscal year ending March 31, 2024, on May 29, 2024, before market opening. The earnings report will be followed by a conference call at 10:00 a.m. Central Time, hosted by CEO Bruce Thames and VP Greg Lucas, accessible via webcast on Thermon's investor relations website. Investment community professionals can join the Q&A session by calling specified numbers. A replay will also be available on the investor relations site.
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