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Thermon Group Holdings (THR) investor relations material
Thermon Group Holdings Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 Aug, 2025
Executive summary
Q1 revenue declined 5–5.4% year-over-year to $108.9M, mainly due to delayed backlog conversion and tariff-driven market uncertainty, but backlog grew 27% to $252.2M and the bid pipeline increased 43%, supported by acquisitions.
Net income rose 1–1.2% to $8.6M, with gross margin improving 30 bps to 44.1% due to favorable mix, pricing, and cost control.
Strategic initiatives and acquisitions in data centers, rail/transit, and electrification (notably F.A.T.I. and Vapor Power) are expected to drive future growth.
$9.8M was spent on share repurchases in Q1, with $44.5M remaining under authorization.
Management reiterated full-year fiscal 2026 guidance, citing strong backlog, margin execution, and secular demand trends.
Financial highlights
Q1 revenue was $108.9M, down 5–5.4% year-over-year; organic revenue declined 11–11.3%.
Gross margin improved to 44.1% from 43.8% last year; gross profit was $48.0M, down 4.7%.
Adjusted EBITDA was $21.2M (19.5% margin), down from $23.2M (20.1%) last year.
Net income was $8.6M, up 1–1.2%; adjusted EPS was $0.36 (down 5–5.3%).
Free cash flow was $8.3M, slightly down from $8.7M last year.
Outlook and guidance
Fiscal 2026 guidance reiterated: revenue of $495M–$535M, adjusted EBITDA of $104M–$114M, and adjusted EPS of $1.77–$1.99.
Margin headwinds from tariffs expected in Q2, but pricing actions should offset costs in H2.
Revenue delays from Q1 expected to convert in Q2 and through the rest of the year.
CapEx projected at 2.5%–3.0% of revenue for fiscal 2026.
Management confident in meeting liquidity needs and long-term profitability targets.
Thermon's liquid load bank market share goal?
F.A.T.I. acquisition's primary growth drivers?
Gross margin outlook given tariff impacts?
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Next Thermon Group Holdings earnings date
Q2 20266 Nov, 2025
Next Thermon Group Holdings earnings date
Q2 20266 Nov, 2025
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Frequently asked questions
Thermon Group Holdings Inc is an industrial technology company that provides thermal engineering solutions. The company designs and manufactures products used for heating, insulating, and monitoring critical industrial processes. Thermon’s offerings include heat tracing systems, heating cables, control systems, and monitoring software, which are utilized in industries such as energy, petrochemicals, power generation, and food processing. These solutions help ensure the efficient and safe operation of facilities by maintaining the proper temperature of pipes, vessels, and other equipment in harsh environments. The company is headquartered in Austin, Texas, and its shares are listed on the NYSE.
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