Thermon Group reports Q2 EPS 55c, consensus 36c

Reports Q2 revenue $131.7M, consensus $119.4M. “Thermon delivered exceptional second quarter results, with revenue and profitability that exceeded expectations across the board,” stated Bruce Thames, CEO of Thermon. “Our 15% year-over-year revenue growth, coupled with a 29% increase in Adjusted EBITDA and a robust 23% Adjusted EBITDA margin, reflects the strength of our strategy, the resilience of our business model, and the outstanding execution by our global team. Reflecting the anticipated recovery from the first quarter delays, the improved business environment, and backlog conversion resulted in organic revenue growth of 9%, and we expect to carry this momentum into the third quarter, positioning us for a solid second half. I am incredibly proud of our team’s ongoing efforts to mitigate the impact of tariffs, which together with our strategic margin improvement initiatives, contributed to an Adjusted EBITDA margin increase of 240 basis points compared to last year. In light of our strong momentum entering the second half, we are raising our full-year 2026 revenue and EPS guidance. While the broader macroeconomic environment remains dynamic, our disciplined focus on our strategic growth initiatives has positioned us to benefit from a strengthening backdrop plus several favorable secular demand trends-including reshoring, electrification, decarbonization, and rising power demand. Our total bid pipeline was up 11% at quarter end, with nearly 80% of the opportunities coming from our diversified end markets including continued strength in power generation, renewables, commercial and data centers. Additionally, I am very excited to announce our first order for the Poseidon liquid load bank testing solution, specifically designed to address the needs of AI and the data center market. While it is still early, we are seeing solid quoting activity and expect order activity to ramp meaningfully in the coming quarters.”