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 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.