Thermon Group (NYSE:THR) Issues Earnings Results

Thermon Group (NYSE:THR) issued its quarterly earnings data on Thursday. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07, Briefing.com reports. Thermon Group had a net margin of 11.60% and a return on equity of 13.58%. The firm had revenue of $147.31 million during the quarter, compared to the consensus estimate of $138.35 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Thermon Group updated its FY 2026 guidance to 1.640-1.780 EPS.

Here are the key takeaways from Thermon Group’s conference call:

• Achieved record Q3 results — revenue of $147.3M (+10% YoY), adjusted EBITDA of $35.6M (+12%) and an adjusted EBITDA margin of 24.2%, with orders up 14% and a book-to-bill of ~1.1.
• Management raised full-year fiscal 2026 guidance to revenue of $516M–$526M and adjusted EBITDA of $114M–$120M, citing sustained order momentum and project pipeline strength.
• Data center opportunity gaining traction — Thermon shipped initial liquid load bank units, doubled its quote log to $60M, and is expanding production with a planned significant ramp into FY27.
• Medium-voltage heater business is an early but sizable growth vector — management reports a pipeline of > $150M, a backlog above $11M, and technical barriers that support a competitive moat as they scale manufacturing.
• Strong financial position and cash generation — net debt of $96.3M (0.8x leverage), $141M total liquidity, $13.1M Q3 free cash flow, and $38.5M remaining share repurchase authorization to fund growth, M&A, or buybacks.

Thermon Group Stock Up 3.8%

Shares of NYSE THR traded up $1.75 during midday trading on Thursday, hitting $47.94. The company’s stock had a trading volume of 383,987 shares, compared to its average volume of 290,383. Thermon Group has a 1 year low of $23.05 and a 1 year high of $49.61. The business’s fifty day simple moving average is $39.82 and its two-hundred day simple moving average is $32.14. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 27.34 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.82 and a quick ratio of 1.74.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of THR. Hotchkis & Wiley Capital Management LLC increased its position in Thermon Group by 5.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 492,782 shares of the technology company’s stock valued at $13,167,000 after acquiring an additional 24,998 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Thermon Group by 38.2% during the third quarter. Kennedy Capital Management LLC now owns 440,165 shares of the technology company’s stock worth $11,761,000 after purchasing an additional 121,634 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Thermon Group by 51.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 428,646 shares of the technology company’s stock valued at $11,453,000 after buying an additional 144,757 shares during the period. UBS Group AG lifted its stake in shares of Thermon Group by 287.4% in the 3rd quarter. UBS Group AG now owns 288,370 shares of the technology company’s stock worth $7,705,000 after acquiring an additional 213,935 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Thermon Group by 4.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 264,080 shares of the technology company’s stock worth $7,415,000 after purchasing an additional 12,428 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Craig Hallum initiated coverage on shares of Thermon Group in a report on Monday. They set a “buy” rating and a $60.00 price target on the stock. Wall Street Zen raised shares of Thermon Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Thermon Group in a report on Monday, December 29th. Finally, Roth Mkm increased their price target on Thermon Group from $38.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Thermon Group presently has a consensus rating of “Buy” and an average target price of $57.00.

About Thermon Group

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.