AUSTIN, TX / ACCESS Newswire / May 19, 2026 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon" or the "Company"), a global leader in industrial process heating solutions, today announced consolidated results for the fourth quarter ("Q4 2026") and full fiscal year ended March 31, 2026 ("Fiscal 2026"). FOURTH QUARTER FISCAL 2026 HIGHLIGHTS (all comparisons versus the prior year period unless otherwise noted) Revenue of $148.3 million, an increase of 11% Gross profit of $65.3 million, an increase of 10%, Gross Margin of 44.0% Net income of $2.7 million, a decrease of 84%, $0.08 EPS Adjusted Net Income (non-GAAP) of $18.3 million, a decrease of 3%, $0.55 Adjusted EPS (non-GAAP) Adjusted EBITDA (non-GAAP) of $32.1 million, an increase of 5%; Adjusted EBITDA margin (non-GAAP) of 21.6% New orders of $143.5 million, an increase of 3%; book-to-bill ratio of 0.97x Net leverage ratio of 0.7x as of March 31, 2026 FULL YEAR 2026 HIGHLIGHTS (all comparisons versus the prior year period unless otherwise noted) Revenue of $536.3 million, an increase of 8% Gross profit of $243.1 million, an increase of 9%; Gross Margin of 45.3% Net income of $44.6 million, a decrease of 17%, $1.36 EPS Adjusted Net Income (non-GAAP) of $70.5 million, an increase of 11%, $2.15 Adjusted EPS (non-GAAP) Adjusted EBITDA (non-GAAP) of $119.6 million, an increase of 9%; Adjusted EBITDA margin (non-GAAP) of 22.3% New orders of $550.8 million, an increase of 3%; book-to-bill ratio of 1.03x Proposed transaction with CECO Environmental Corp. ("CECO") on track to close in June 2026 MANAGEMENT COMMENTARY "Our disciplined focus on our strategic growth priorities enabled us to sustain and build upon the recent momentum in our business, resulting in a strong finish to fiscal 2026, capping a record year for revenue, Adjusted EBITDA, and orders," stated Bruce Thames, President and CEO of Thermon.
