Thermon (THR) To Report Earnings Tomorrow: Here Is What To Expect

Industrial process heating solutions provider Thermon (NYSE:THR) will be announcing earnings results this Thursday morning. Here’s what to expect.

Thermon met analysts’ revenue expectations last quarter, reporting revenues of $134.1 million, up 5% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations.

Is Thermon a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Thermon’s revenue to grow 6.4% year on year to $122.5 million, slowing from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.36 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Thermon has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Thermon’s peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Vertiv delivered year-on-year revenue growth of 35.1%, beating analysts’ expectations by 12%, and Acuity Brands reported revenues up 21.7%, topping estimates by 3.1%. Vertiv traded up 2% following the results while Acuity Brands was also up 5.8%.

Read our full analysis of Vertiv’s results here and Acuity Brands’s results here.

There has been positive sentiment among investors in the electrical systems segment, with share prices up 2.1% on average over the last month. Thermon’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $36 (compared to the current share price of $28.42).

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