Published on 30 May 2024 on Zacks via Yahoo Finance

Thermon Group's (THR) Q4 Earnings Beat, Revenues Rise Y/Y

Thermon Group THR reported fourth-quarter fiscal 2024 adjusted earnings per share (EPS) of 34 cents, which surpassed the Zacks Consensus Estimate of 32 cents. The bottom line fell 17% year over year mainly due to reduced volumes, product mix, spending and incremental interest expenditure, which were partially balanced by improved prices.For the fiscal year ended Mar 31, 2024, adjusted EPS soared 16% year over year to $1.82, driven by the Vapor Power acquisition.Revenues in the quarter totaled $127.7 million, beating the Zacks Consensus Estimate by 0.37%. The top line expanded 4% year over year owing to decarbonization projects and end market diversification strategy. The acquisition of Vapor Power in the fiscal fourth quarter was instrumental in generating $10.9 million in revenues.For the full year, total revenues were $494.6 million, up 12% year over year, driven by steady traction in growth in power, food and beverage, commercial, rail and transit and chemical/petrochemical end markets. Among these, sales from power were up more than 170%, commercial grew almost 20% and food and beverage rose roughly 120% on a year-over-year basis. THR highlighted that its diversification strategy for end markets includes non-oil and gas unit which contributed 68% to total sales in 2024. The rapid adoption of Genesis Network, with the installed base expanding more than 204% during fiscal 2024, fuelled the top-line expansion.Decarbonization revenues soared 48% in fiscal 2024 to $34 million due to the healthy adoption of THR’s sustainable decarbonization solutions.

Thermon Group Holdings, Inc. Price, Consensus and EPS Surprise

Thermon Group Holdings, Inc. price-consensus-eps-surprise-chart | Thermon Group Holdings, Inc. Quote