Q2 2025 Thermon Group Holdings Inc Earnings Call Transcript
Key Points
- Thermon Group Holdings Inc (THR) reported improved order momentum with orders increasing by nearly 13% on a reported basis.
- The company successfully executed its capital allocation priorities, including the acquisition of FTI and a share repurchase program.
- Thermon Group Holdings Inc (THR) achieved its fiscal year '26 goal of generating at least 70% of revenues from diversified end markets.
- The acquisition of FTI expanded Thermon Group Holdings Inc (THR)'s geographic footprint in the eastern hemisphere, enhancing its market presence.
- Thermon Group Holdings Inc (THR) generated strong free cash flow, with $6.7 million in the quarter, an improvement of $6.1 million compared to the previous year.
- Thermon Group Holdings Inc (THR) experienced a 7.4% year-over-year decline in revenue, primarily due to continued weakness in large project revenues.
- Large project revenue decreased by 51% during the quarter, reflecting delays in customer decisions on large capital projects.
- The company's adjusted EBITDA margin decreased to 20.8% from 22.4% in the same period last year, due to volume shortfalls and lower project margins.
- Thermon Group Holdings Inc (THR) adjusted its full-year 2025 guidance downward, reflecting challenges in the large project market.
- The company faced extended decision cycles and uncertainty from customers, particularly on larger capital projects, impacting revenue recognition timing.
Greetings and welcome to Thermon Group Holding Inc earnings call for the second quarter 2025. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ivonne Salem, Vice President, FNA and IR. Thank you. You may begin.
Good morning, and thank you for joining Thermal Group's fiscal 2025 second-quarter results conference call. Leading the call today are CEO Bruce Thames; and Chief Financial Officer, Jan Schott. Earlier this morning, we issued an earnings press release which has been filed with the SEC on form eight K and it's also available on the next relation section of our website. Additionally, the slides for this conference call can be found in our IR website under news and events. IR calendar earnings conference call Q2 2025.
During the call, we will discuss some items that do not conform to generally accepted accounting principles. We have reconciled those items to the
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