Every 10-Q that THERMON GROUP HOLDINGS, INC. (THR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow THR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full THR filings page.
Thermon Group Holdings delivered steady results for the quarter and nine months ended December 31, 2025. Quarterly sales rose to $147.3 million from $134.4 million, while net income was broadly flat at $18.3 million. Gross margin improved slightly to 46.6% as pricing and project mix offset cost pressures.
For the first nine months, sales increased to $387.9 million from $364.1 million and net income grew to $41.8 million from $36.5 million, helped by higher project activity, especially in Europe, and contributions from the F.A.T.I. acquisition. Backlog increased to $259.4 million, supporting future revenue visibility.
The company refinanced its debt with a new $125 million term loan due 2030 and a $115 million revolving credit facility, and ended the period with long-term debt of $122.9 million and revolving borrowings of $19.7 million. Thermon continues to invest in data-center-focused liquid load bank products and maintains compliance with leverage and coverage covenants.
Thermon Group Holdings (THR) reported stronger quarterly results. For the three months ended September 30, 2025, sales rose to $131.7 million from $114.6 million, with gross profit up to $61.1 million from $50.9 million. Net income increased to $15.0 million from $9.5 million, and diluted EPS was $0.45 versus $0.28. Segment sales were $63.8 million in US-LAM, $40.4 million in Canada, $18.1 million in EMEA, and $9.5 million in APAC.
Liquidity and capital structure shifted with a new Second Amended and Restated Credit Agreement on July 24, 2025, including a $115.0 million revolving credit facility and a $125.0 million term loan maturing July 24, 2030. At quarter-end, cash and cash equivalents were $29.7 million; revolving borrowings were $14.7 million with $99.4 million available, and term debt (net) was $124.3 million. Operating cash flow for the six months was $18.2 million. The company repurchased 236,427 shares for $6.0 million in the quarter and 601,125 shares for $15.8 million year-to-date. Backlog was $251.3 million, up from $240.3 million at March 31, 2025. As of November 5, 2025, 32,840,075 common shares were outstanding.