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Sep 30, 2020
Thermon Q2 2021 Earnings Report
Thermon's financial performance decreased in Q2 2021 compared to the same period last year, with revenue and earnings declining, but backlog increased.
Key Takeaways
Thermon reported a decrease in revenue and earnings for Q2 2021 compared to Q2 2020, but backlog increased. The company is focused on executing its strategic plans and generating cash.
Revenue decreased by 35% to $66.4 million compared to $102.9 million.
Backlog increased by 16% to $118.7 million, marking the third consecutive quarter with a positive book to bill ratio.
GAAP EPS decreased to $0.06 from $0.21.
Net income decreased to $1.8 million compared to $6.9 million.