Thermon Group Hldgs Inc Stock Price, News & Analysis

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.

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.