Thermon Q3 revenue up 9.6%, beats estimates

Thermon group

05/02/2026 11:54

Overview

Industrial process heating firm's Q3 revenue grew 9.6%, beating analyst expectations

Adjusted EPS for Q3 beat analyst expectations

Company raised full-year fiscal 2026 guidance citing strong bookings momentum

Outlook

Thermon raises full-year fiscal 2026 revenue guidance to $516-$526 mln

Company expects full-year adjusted EBITDA of $114-$120 mln

Thermon anticipates full-year adjusted EPS of $2.05-$2.19

Result Drivers

LARGE PROJECTS - Revenue growth driven by increased large project activity, especially in Europe, related to electrification and decarbonization initiatives

DIVERSIFICATION STRATEGY - Growth supported by diversification initiatives focusing on decarbonization, digitization, and diversification across key markets

NEW PRODUCT DEVELOPMENT - Successful development and shipment of liquid load bank testing solutions within six months, demonstrating agility

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$147.30 mln
$138.34 mln (5 Analysts)
Q3 Adjusted EPS
Beat
$0.66
$0.58 (5 Analysts)
Q3 Adjusted EBITDA
$35.60 mln
Q3 Orders
$158.20 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electrical components & equipment peer group is "buy"

Wall Street's median 12-month price target for Thermon Group Holdings Inc is $54.00, about 16.9% above its February 4 closing price of $46.19

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nACS6HZP1a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)