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Thermon Reports First Quarter Fiscal 2026 Results

1. Q1 2026 revenue fell 5.4%, indicating potential near-term challenges. 2. Management expects revenue recognition delays to improve in upcoming quarters.

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FAQ

Why Bearish?

The decline in revenue and gross profit in Q1 2026 is concerning. Historically, similar declines have resulted in negative stock reactions as investors worry about sustained deficiencies.

How important is it?

The results directly reflect on THR's performance and investor sentiment. A revenue decline generally raises concerns about operational efficiency and market competitiveness.

Why Short Term?

Immediate impacts are evident due to Q1 results. However, with management's expectation of delayed revenue recognition, conditions may stabilize soon.

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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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