Thermon Q2 2024 Earnings Report
Key Takeaways
Thermon reported record revenue of $123.7 million, a 23% increase year-over-year. Net income increased by 34% to $14.7 million, and adjusted EPS rose by 30% to $0.49. The company has raised its full year Fiscal 2024 revenue and EPS guidance.
Record revenue of $123.7 million, up 23% year-over-year, driven by growth in the US, Europe, and Asia Pacific.
GAAP EPS of $0.43 and record non-GAAP adjusted EPS of $0.49, increased 33% and 30% respectively.
Net income increased 34% to $14.7 million, and Adjusted EBITDA increased 27% to $27.7 million.
Bookings increased 22% to $116.4 million, with 73% of orders in diversified end markets, resulting in a book-to-bill ratio of 0.94x.
Thermon
Thermon
Forward Guidance
Thermon has raised its full year Fiscal 2024 revenue guidance to approximately $478 - $498 million. The company is also raising full year Fiscal 2024 GAAP EPS guidance to approximately $1.59 - $1.69 per share, with Adjusted EPS of approximately $1.84 - $1.94 per share.