NYSE$THR

Thermon Group Holdings Inc · Q3 2026 earnings

Q3 2026 earnings · · Before market open · Investor relations

Briefing

Thermon reported Q3 2026 revenue of $147.3M with net income of $18.3M and diluted EPS of $0.55.

For the quarter ended December 31, 2025, Thermon generated revenue of $147.3 million (+10% YoY) with net income of $18.3 million and diluted EPS of $0.55 versus $0.54 a year ago. Nine-month revenue rose to $387.9 million and net income to $41.8 million as process heating demand remained solid across industrial and energy end markets.

  • Q3 revenue $147.3M (+10% YoY); net income $18.3M.
  • Diluted EPS $0.55; nine-month EPS $1.27 on $387.9M revenue.
  • Management continues disciplined capital allocation including buybacks and debt paydown.
  • Large project timing can swing mix between point-in-time product sales and over-time project revenue.

Headline financials

Total Revenue

$147M

Previous: $134M+9.6%
EPS (adj)

$0.55

Previous: $0.56-1.8%
New Orders

$158M

Previous: $139M+14.1%
Book-to-Bill Ratio

1.1

No prior period
Adjusted EBITDA

$35.6M

Previous: $31.8M+12.0%
Adjusted EBITDA Margin

24.2%

Previous: 23.7%+2.1%
Net Leverage Ratio

0.8

Previous: 1-20.0%
Working Capital

$190M

Previous: $177M+7.2%
Gross Margin

46.6%

Previous: 46.2%+0.9%
Backlog

$259M

Previous: $236M+10.1%
Capital Expenditures

-$10.4M

Previous: -$7.18M-44.9%
Free Cash Flow

$7.89M

No prior period
Net Income

$18.3M

Previous: $18.5M-1.1%
Operating Income

$26.7M

Previous: $27.7M-3.7%
Gross Profit

$68.7M

Previous: $62.1M+10.5%
Cash & Equivalents

$46.9M

No prior period
Total Assets

$817M

No prior period

Revenue & EPS history

Thermon · Revenue · Quarterly

$147M

Q3 2026+9.6%vs Q3 2025
Beat estimate in 11 of 14 quarters(79%)
ActualEstimate

Forward guidance

The release discusses THR's outlook for upcoming periods, including capital allocation, operating priorities, and market risks.

Tailwinds

  • THR cites operational execution and demand trends supporting the outlook.
  • Balance sheet and capital actions aim to fund growth and shareholder returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2026

Historical avgQ3 2026

-0.3%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.7%

Avg return

30 days after

53%

34 / 64 earnings

Positive

+13.3%

Q2 2014

Best reaction

-24.9%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026+3.1%+3.6%
Q3 2026+5.6%+8.8%-2.0%
Q2 2026+11.2%+22.2%+33.0%
Q1 2026-11.2%-8.9%-9.5%
Q4 2025-0.5%-6.9%-7.2%
Q3 2025-1.6%+12.9%+5.9%
Q2 2025-3.4%+0.1%+8.6%
Q1 2025-0.2%-3.4%-5.1%
Q4 2024-0.1%-7.7%-11.8%
Q3 2024-24.9%-21.9%-16.1%
Q2 2024+11.2%+14.7%+13.1%
Q1 2024-7.3%-5.3%-0.2%
Q4 2023+1.2%+0.3%+11.2%
Q3 2023+3.7%+13.6%+18.8%
Q2 2023+3.2%+8.4%+17.8%
Q1 2023+4.3%+7.0%+8.7%
Q4 2022+2.5%+1.5%-5.4%
Q3 2022+2.0%+3.3%-0.3%
Q2 2022+0.8%-1.2%-9.3%
Q1 2022+3.8%+2.7%-4.0%
Q4 2021-10.7%-9.0%-6.6%
Q3 2021+1.8%+7.2%+35.8%
Q2 2021+5.7%+25.4%+55.5%
Q1 2021-2.4%+0.4%-11.4%
Q4 2020-11.2%+5.1%-11.5%
Q3 2020-14.7%-13.3%-25.8%
Q2 2020+8.5%+7.5%+4.5%
Q1 2020-7.0%-5.1%-7.3%
Q4 2019+5.9%+7.6%+15.3%
Q3 2019+2.6%+3.3%+13.0%
Q2 2019-0.4%-4.9%-3.4%
Q1 2019+3.4%-0.2%+6.9%
Q4 2018-8.7%-4.8%-3.0%
Q3 2018+3.0%+3.0%+9.3%
Q2 2018+4.4%+3.4%+2.7%
Q1 2018-3.3%-3.3%-7.2%
Q4 2017-13.2%-13.5%-10.1%
Q3 2017-0.5%+1.4%-3.3%
Q2 2017-0.5%+2.0%+6.2%
Q1 2017-5.4%-1.5%-2.5%
Q4 2016+10.7%+9.5%+4.5%
Q3 2016-2.3%
Q2 2016-7.7%
Q1 2016-3.6%
Q4 2015-1.9%
Q3 2015+7.6%
Q2 2015+10.7%
Q1 2015+9.1%
Q4 2014+1.0%
Q3 2014-5.4%
Q2 2014+13.3%
Q1 2014+0.2%
Q1 2011-0.9%
Q4 2013-5.1%
Q3 2013-6.3%
Q2 2013-6.3%
Q1 2013+1.6%
Q4 2012+0.0%
Q3 2011+1.3%
Q3 2012+1.3%
Q2 2011+0.3%
Q2 2012+0.3%
Q4 2011+1.8%
Q1 2012+1.8%
Q4 2010

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