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Thermon (THR)
NYSE:THR
Earnings Data
Report Date
May 21, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
0.55Last Year’s EPS
0.56Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call was decidedly positive: management reported record revenue, profitability, orders and bookings, raised FY2026 guidance, and highlighted strong balance sheet and several high-potential organic growth initiatives (liquid load banks, medium voltage heaters, LNG/midstream opportunities). Key risks discussed include protracted large project conversion timelines (shifting some revenue into FY2027), early-stage commercialization risk for new product lines (medium voltage heaters backlog remains small vs pipeline), increased near-term investments and normal seasonal margin variability. On balance, highlights and material financial improvements outweigh the noted execution timing and early-stage risks.Company Guidance
Record Company Results & Raised Guidance
Company reported record revenue, profitability, and bookings for Q3 and raised full-year FY2026 guidance: revenue guidance $516M–$526M (≈5% growth at midpoint) and adjusted EBITDA guidance $114M–$120M (≈7% growth at midpoint).
Revenue and Profitability Growth
Q3 revenue of $147.3M, up 10% year-over-year; adjusted EBITDA $35.66M, up 12% year-over-year; adjusted EBITDA margin 24.2% (up 50 basis points YoY); trailing twelve months adjusted EBITDA margin nearly 23%.
Strong Order Intake and Backlog Expansion
Q3 orders of $158.2M, up 14% YoY; book-to-bill ~1.1x; backlog increased 10%; total bid pipeline up 8% at quarter-end with nearly 80% from diversified end markets.
Large Project Momentum
Large project orders increased ~60% YoY; large project revenue was $25.4M, up 37% YoY; engineering capacity increased (new global Engineering Center in Mexico) enabling improved project execution.
Data Center Liquid Load Bank Traction
Shipped first 20 units of new liquid load bank solution and began installations/commissioning in Q3; quote log doubled sequentially to $60M; company expanding production to support expected multiyear growth (expected material ramp into FY2027).
Medium Voltage Heaters Opportunity
Medium voltage heater pipeline expanded to over $150M; secured third order increasing backlog for this product to >$11M; company scaling manufacturing and leveraging engineering advantage in a market with high barriers to entry.
Improved Margins & Operational Efficiency
Gross profit $68.7M, up 11% YoY; gross margin 46.6% vs 46.2% last year driven by Thermon business system productivity, pricing, and operating leverage; OpEx revenue $122M (+5% YoY) represented 83% of total revenue.
Healthy Cash Flow and Balance Sheet
Q3 free cash flow $13.1M (vs $8.4M prior year); year-to-date FCF $25.7M (vs $23.9M); ended quarter with net debt $96.3M, net leverage 0.8x, and $141M in cash & available liquidity; $38.5M remaining share repurchase authorization.
Successful Integration & Growth from Fati Acquisition
Fati acquisition reached one-year anniversary and is now fully organic to growth; management highlighted strong performance and expansion of manufacturing capacity in Europe to support medium voltage heaters and electrification demand.
THR Earnings History
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 |
|---|---|---|---|
Feb 05, 2026 | $46.19 | $48.77 | +5.59% |
Nov 06, 2025 | $29.41 | $32.80 | +11.53% |
Aug 07, 2025 | $28.23 | $24.95 | -11.62% |
May 22, 2025 | $29.12 | $28.87 | -0.86% |
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 (THR) report earnings?
Thermon (THR) is schdueled to report earning on May 21, 2026, Before Open (Confirmed).
What is Thermon (THR) earnings time?
Thermon (THR) earnings time is at May 21, 2026, 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 (Q4) is 0.55.