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Sep 30, 2023
Thermon Q2 2024 Earnings Report
Produced record revenue, net income, adjusted EBITDA, and EPS growth, leading to raised FY 2024 revenue and EPS guidance.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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