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Thermal Energy International ( (TSE:TMG) ) has issued an update.
Thermal Energy International reported record second-quarter revenue of $10.2 million, up more than 18% year over year, driven primarily by strong performance in heat recovery projects and GEM product sales, which also delivered record gross profit and lifted gross margin to 39%. Adjusted EBITDA more than tripled to $814,000 and net income surged to $618,000, helped by improved project mix and higher margins, even as operating expenses rose due to one-time restoration costs, incentive accruals and digital investments. The company exited the quarter with $2.0 million in cash, $3.4 million in working capital and a 16% higher order backlog of $15.0 million, which had expanded further to $21.5 million by late January, while repayment of nearly all bank term debt leaves Thermal Energy with a stronger balance sheet and greater flexibility to pursue its growth plans in the energy efficiency market.
The most recent analyst rating on (TSE:TMG) stock is a Hold with a C$0.15 price target. To see the full list of analyst forecasts on Thermal Energy International stock, see the TSE:TMG Stock Forecast page.
Spark’s Take on TSE:TMG Stock
According to Spark, TipRanks’ AI Analyst, TSE:TMG is a Neutral.
Thermal Energy International’s overall stock score is primarily impacted by its financial performance and technical analysis. The company faces significant challenges in profitability and cash flow generation, which are reflected in its negative P/E ratio and bearish technical indicators. The lack of earnings call data and corporate events means these factors do not influence the score.
To see Spark’s full report on TSE:TMG stock, click here.
More about Thermal Energy International
Thermal Energy International Inc. is a Canadian-based provider of energy efficiency and carbon emission reduction solutions for major corporations globally. The company’s offerings include turnkey heat recovery projects and its GEM steam trap technology, with growing demand also seen for its HeatSponge product line as it increasingly targets larger, more strategic industrial opportunities through its in-house sales team.
Average Trading Volume: 112,334
Technical Sentiment Signal: Hold
Current Market Cap: C$24.85M
For detailed information about TMG stock, go to TipRanks’ Stock Analysis page.