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Thermon Reports First Quarter Fiscal 2026 Results

1. THR reports Q1 2026 revenue decline, but confirms full-year guidance. 2. Management anticipates resolving backlog issues to recognize delayed revenue.

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$28.2308/07 07:09 AM EDTEvent Start
$24.1508/08 02:04 PM EDTLatest Updated
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FAQ

Why Neutral?

The revenue decline indicates potential challenges, similar to past performance dips that were mitigated with recovery efforts.

How important is it?

The information presents mixed results; while there is a decline, future recovery is suggested.

Why Short Term?

Management's actions to address backlog should yield results soon, impacting Q2 revenue positively.

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AUSTIN, TX / ACCESS Newswire / August 7, 2025 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon" or the "Company"), a global leader in industrial process heating solutions, today announced consolidated results for the first quarter ("Q1 2026") of the fiscal year ending March 31, 2026 ("Fiscal 2026"). FIRST QUARTER 2026 HIGHLIGHTS (all comparisons versus the prior year period unless otherwise noted) Revenue of $108.9 million, (5.4)% Gross profit of $48.0 million, (4.7)%; Gross Margin of 44.1% Net income of $8.6 million, +1.2%, or $0.26 earnings per diluted share (EPS) Adjusted Net Income (non-GAAP) of $12.1 million, (7.6)%, or $0.36 Adjusted EPS (non-GAAP) Adjusted EBITDA (non-GAAP) of $21.2 million, (8.6)%; Adjusted EBITDA margin (non-GAAP) of 19.5% New orders of $120.7 million, (5.1)%; book-to-bill ratio of 1.11x Net Leverage ratio of 1.0x as of June 30, 2025 Confirming full-year 2026 guidance MANAGEMENT COMMENTARY "First quarter backlog conversion fell short of our expectations delaying roughly $10 million in revenue in the quarter; however, the actions we have taken to address these issues will enable these revenues to be recognized in the coming quarters, as evidenced by our solid backlog growth," stated Bruce Thames, President and CEO of Thermon.

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