Thermon Q4 2023 Earnings Report
Key Takeaways
Thermon reported a strong fourth quarter in fiscal year 2023, marked by record revenue of $122.5 million, a 19% increase year-over-year, driven by growth across all regions. The company's adjusted EPS increased by 33% to $0.41, and adjusted EBITDA rose by 37% to $25.1 million.
Record revenue of $122.5 million, an increase of 19%, driven by solid growth across all regions.
Non-GAAP Adjusted EPS of $0.41, an increase of 33%, largely due to margin improvement and cost control.
Adjusted EBITDA of $25.1 million, an increase of 37%, driven by volume growth and prudent cost management.
Bookings of $132.1 million, an increase of 17%, which represents the highest quarterly bookings since the Company's IPO.
Thermon
Thermon
Forward Guidance
Thermon expects revenue to be approximately $455 - $485 million and GAAP EPS to be approximately $1.45-$1.61 per share, with Adjusted EPS to be approximately $1.66-$1.82 per share for fiscal year ending March 31, 2024.
Positive Outlook
- Continued momentum and investments in long-term strategy.
- Investments in manufacturing efficiencies.
- Full twelve months of revenue contribution from the Powerblanket acquisition.
- Continued strength in the Western Hemisphere to lead growth.
- Well positioned to benefit from both tight commodity markets and accelerating, long-term investments in a more digital and lower carbon future.