Thermon Group Holdings Inc: Down as quarterly revenue falls

Thermon group

27/05/2021 15:31

** Shares of industrial process heating solution provider
 THR.O  fall 7.8% to $17.99
    ** Stock set for biggest loss in over a month
    ** Q4 FY21 rev falls 17% to $73.3 mln  urn:newsml:reuters.com:*:nACSNv5Jxa
    ** Co posts gross margin of 37.1% vs 40.3% in Q4 2020
    ** THR expects revenue of $278 mln-295 mln for FY22
    ** While COVID-19 restrictions and depressed demand for
transportation fuels continues to impact our customers and
certain end markets, maintenance spending has positively
inflected in recent months and is starting to show signs of
expansion - CEO
    ** YTD, stock up 17%

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))