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Sep 30, 2021
Thermon Q2 2022 Earnings Report
Reported revenue growth of 22% and orders up 59% including a large, one-time North American contract.
Key Takeaways
Thermon reported a strong second quarter with revenue growth of 22% driven by accelerating global economic recovery. Orders were up 59%, including a large, one-time North American contract. The company is raising full-year Fiscal 2022 revenue guidance to $330-$345 million due to backlog strength and incoming order rate trends.
Revenue increased by 22% compared to Q2 2021.
Orders increased by 59% including a large, one-time North American contract.
Gross margin was 39.0%, compared to 43.6% in Q2 2021.
The company is raising full-year Fiscal 2022 revenue guidance to $330-$345 million.
Forward Guidance
Thermon is raising its previous guidance, and now expects revenue will be approximately $330-$345 million, including the impact of the one-time order. The company will continue to prioritize its capital allocation towards optional debt repayments in the near term and target a Net Debt to Adjusted EBITDA leverage ratio of approximately 1.5x by March 31, 2022, excluding the impact of any inorganic activity.
Positive Outlook
- Revenue expected to be approximately $330-$345 million.
- Prioritizing capital allocation towards optional debt repayments.
- Targeting a Net Debt to Adjusted EBITDA leverage ratio of approximately 1.5x by March 31, 2022.
- Economic recovery
- Strength and pace of customer spending
Historical Earnings Impact
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Avg. Return Before/After Earnings
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