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Thermon Group acquires Powerblanket, terms undisclosed » 07:03
06/01/22
06/01
07:03
06/01/22
07:03
THR

Thermon Group

$15.74 /

-0.16 (-1.01%)

Thermon Group announced…

Thermon Group announced it acquired Powerblanket, a North American supplier of heated blankets built upon patented heat spreading technology and portable industrial chillers. Powerblanket increases Thermon's exposure to growing industrial and commercial end-markets through its freeze protection, temperature control and flow assurance solutions. Powerblanket recognized revenue of over $17M in the fiscal year ended March 31. Thermon expects the transaction to be accretive to GAAP earnings per share in the first twelve months and will generate a return on capital in excess of its cost of capital in less than three years, consistent with its overall capital allocation goals. The acquisition was funded with cash on hand and borrowings under Thermon's revolving credit facility.

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THR Thermon Group
$15.74 /

-0.16 (-1.01%)

Earnings
Thermon Group sees 2023 revenue $350M-$380M » 07:50
05/26/22
05/26
07:50
05/26/22
07:50
THR

Thermon Group

$15.51 /

+0.15 (+0.98%)

The company said,…

The company said, "For our fiscal year ending March 31, 2023, we expect revenue will be approximately $350-$380 million. Fiscal 2022 included $23.6 million of revenue from a large, one-time labor contract. We also expect GAAP EPS in Fiscal 2023 to be approximately $0.74-$0.89 per share. We continue to target a net debt to Adjusted EBITDA leverage ratio of 1.5-2.0x, excluding the impact of any inorganic activity."

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THR Thermon Group
$15.51 /

+0.15 (+0.98%)

Earnings
Thermon Group reports Q4 adjusted EPS 31c vs. 2c last year » 07:49
05/26/22
05/26
07:49
05/26/22
07:49
THR

Thermon Group

$15.51 /

+0.15 (+0.98%)

Reports Q4 revenue…

Reports Q4 revenue $102.6M vs. $73.3M last year. "Thermon had a strong finish to the fiscal year, with profits growing faster than revenues, a positive book to bill ratio and managing another year without a lost time incident. Excluding the impact of a one-time contract in the quarter, adjusted gross margins increased by 460 basis points versus prior year as we realized the impact of pricing initiatives while managing rising input costs. Progress against our strategic plan has been significant. Most notably, our business in diversified end markets grew almost three times faster than those customers in traditional oil and gas sectors. In addition, we are proving up the relevance of our technology-enabled service offerings with six new purchase orders for our Genesis Network while at the same time introducing 11 new products and software solutions to grow share in new target markets. We believe we are seeing early signs of the post-COVID recovery in developing markets, particularly the Eastern Hemisphere, which represent significant opportunities for growth," said Bruce Thames, Thermon's President and Chief Executive Officer.

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