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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.
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Thermon Group Holdings, Inc. (THR) reported a 21% revenue increase for Q3 2023, reaching $122.1 million. The company attributed this growth to strong sales in the US, Canada, and Latin America. Despite a total pretax charge of $8.3 million related to exiting the Russian market, GAAP net income was $8.4 million with diluted EPS of $0.25, affected by $0.22 from Russia-related charges. Thermon raised its full-year guidance, projecting revenues between $429-$437 million and GAAP EPS of $1.11-$1.15. The company also reported record bookings of $126 million, a 40% increase year-over-year.
Thermon Group Holdings, Inc. (NYSE:THR) will announce its consolidated financial results for the third quarter ending December 31, 2022, on February 2, 2023, before market opening. A conference call will follow at 10:00 a.m. Central Time, led by CEO Bruce Thames and CFO Kevin Fox, with a simultaneous webcast available on Thermon's investor relations website. Interested participants can join by calling specific numbers based on their location. For further details and a replay of the call, visit the investor relations site.