The earnings call highlighted strategic growth opportunities, strong backlog growth, and gross margin improvements. However, these positives were tempered by revenue declines, delayed backlog conversion, and softness in order rates due to global trade uncertainties.

Company Guidance -

Q2 2026

During the Thermon Group's Q1 Fiscal Year 2026 earnings call, CEO Bruce Thames reported a 5% year-over-year revenue decline to $108.9 million, largely due to a $10 million delay in backlog conversion and project execution timing. Despite this, gross margin improved by 30 basis points to 44.1%, aided by tariff mitigation efforts and a strategic shift toward higher-margin OpEx revenues. Adjusted EBITDA was $21.2 million, representing a 9% decrease from last year, with an adjusted EBITDA margin of 19.5%. The company's backlog increased by 27% year-over-year, and the order pipeline grew by 43%, buoyed by the Vapor Power acquisition. The acquisition of F.A.T.I. significantly bolstered the company's position in the electrification market across Europe, contributing $6.8 million in revenue. Thermon has maintained a strong balance sheet with a leverage ratio of 1.0x and returned nearly $10 million to shareholders through share repurchases. Looking ahead, the company reiterated its fiscal 2026 guidance, with revenue anticipated between $495 million and $535 million and adjusted EBITDA between $104 million and $114 million. The company also highlighted emerging opportunities in the data center market, rail and transit, and continued strategic focus on gross margin enhancements and long-term growth drivers.

Strong Gross Margin Performance

Achieved gross margin improvement with a 30 basis points increase from the previous year despite volume declines and tariff impacts.

Robust Backlog Growth

Backlog increased by 27% from last year, positioning the company well for future revenue recognition.

Data Center Market Opportunity

Launch of Pontus and Poseidon load banks targeting the data center market, with a projected market growth from $84 million in 2024 to $386 million in 2032, representing a 21% CAGR.

Rail and Transit Market Growth

Strong order momentum with the rail and transit backlog doubling over the last 12 months, influenced by the Infrastructure Investment and Jobs Act.

F.A.T.I. Acquisition Success

F.A.T.I. acquisition has led to increased growth, with a backlog doubling in the last 6 months due to electrification market growth in Europe and the Middle East.

Strong Financial Position

Leverage at 1x and available liquidity of $130.8 million, providing flexibility for growth strategies and shareholder returns.

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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