The earnings call highlighted Thermon's resilience and strategic positioning in a challenging market environment. While there were notable achievements in margin improvement, backlog growth, and new market opportunities, the company faced revenue declines and challenges in backlog conversion and regional performances. The overall sentiment reflects a balance between positive strategic initiatives and existing operational challenges.

Company Guidance

During the Thermon Group's Q1 Fiscal Year 2026 earnings call, several metrics were highlighted to provide guidance on the company's performance and outlook. The company reported a 5% year-over-year decline in revenue, with first-quarter revenue at $108.9 million. This decline was attributed to approximately $10 million in delayed backlog conversion, affecting both large project and OpEx revenues, which were down 11% and 4%, respectively, excluding contributions from acquisitions. Despite these challenges, Thermon achieved a gross margin improvement of 30 basis points to 44.1% due to strategic shifts toward higher-margin revenues and tariff mitigation efforts. The backlog at quarter-end increased by 27%, and the total bid pipeline rose by 43%, driven by various end markets, including chemical, petrochemical, LNG, and renewables. Adjusted EBITDA for the quarter was $21.2 million, with a margin of 19.5%. The company maintained a strong balance sheet, with a net leverage ratio of 1.0x and total cash and available liquidity of $130.8 million. Looking forward, Thermon reiterated its fiscal 2026 guidance, projecting revenue between $495 million and $535 million, and adjusted EBITDA between $104 million and $114 million.

Strong Gross Margin Performance

Gross margin improved by 30 basis points from the previous year, reaching 44.1% due to a strategic shift towards higher-margin OpEx revenues and effective tariff mitigation measures.

Increased Backlog and Bid Pipeline

Backlog at quarter end was up 27% from last year, with the total bid pipeline increasing by 43%, driven by activity in key markets such as chemical, petrochemical, power and nuclear, LNG, and renewables.

Successful Launch of New Products in Data Center Market

Thermon launched the Pontus and Poseidon load banks to capitalize on the growing demand within the data center market, with expectations for significant growth in liquid load bank opportunities.

Financial Discipline and Capital Allocation

Thermon maintained a strong balance sheet with leverage of just 1x and returned nearly $10 million in capital through share repurchases, with plans to continue balancing growth investments and shareholder returns.

Strong Demand in Rail and Transit Market

The rail and transit backlog doubled over the last 12 months, supported by favorable conditions from the Infrastructure Investment and Jobs Act.

Strong Performance in EMEA Region

EMEA delivered strong growth with revenue more than doubling, driven by organic performance and contributions from the F.A.T.I. acquisition.

Thermon Group Holdings (THR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

THR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2026 (Q2)	0.36 / -	0.38	―	―	―
Aug 07, 2025	2026 (Q1)	0.36 / 0.36	0.38	-5.26% (-0.02)
May 22, 2025	2025 (Q4)	0.51 / 0.56	0.34	64.71% (+0.22)
Feb 06, 2025	2025 (Q3)	0.55 / 0.56	0.59	-5.08% (-0.03)
Nov 07, 2024	2025 (Q2)	0.37 / 0.38	0.49	-22.45% (-0.11)
Aug 07, 2024	2025 (Q1)	0.31 / 0.38	0.4	-5.00% (-0.02)
May 29, 2024	2024 (Q4)	0.32 / 0.34	0.41	-17.07% (-0.07)
Feb 01, 2024	2024 (Q3)	0.55 / 0.59	0.52	13.46% (+0.07)
Nov 02, 2023	2024 (Q2)	0.34 / 0.49	0.38	28.95% (+0.11)
Aug 03, 2023	2024 (Q1)	0.29 / 0.40	0.25	60.00% (+0.15)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

THR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$28.23	$24.95	-11.62%
May 22, 2025	$29.12	$28.87	-0.86%
Feb 06, 2025	$26.95	$26.52	-1.60%
Nov 07, 2024	$29.44	$29.03	-1.39%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Thermon Group Holdings Inc. (THR) report earnings?

Thermon Group Holdings Inc. (THR) is schdueled to report earning on Nov 06, 2025, Before Open (Confirmed).

What is Thermon Group Holdings Inc. (THR) earnings time?

Thermon Group Holdings Inc. (THR) earnings time is at Nov 06, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is THR EPS forecast?

THR EPS forecast for the fiscal quarter 2026 (Q2) is 0.36.

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