Thermon (NYSE:THR) FY Conference March 23, 2026 07:00 PM ET Company ParticipantsBruce Thames - President and CEOTodd Gleason - CEOConference Call ParticipantsChip Moore - Managing Director and Senior Research AnalystGerry Sweeney - Managing Director and Senior Research AnalystNone - AnalystGerry SweeneyAfternoon, everyone. Gerry Sweeney from Roth Capital. Thanks for joining us for my last fireside chat of the day. It's to 180blu for some beers. Is this being webcast? Yes. Okay. Well, we can edit that out. N ...

Thermon Group Holdings, Inc Investor Presentation March 2026 Legal Disclosures I THERMON NON-GAAP FINANCIAL MEASURES Disclosure in this presentation of Thermon's "Adjusted EPS," "Adjusted EBITDA," "Adjusted EBITDA margin," "Adjusted Net Income/(loss)," "Free Cash Flow," "Organic Sales," "OPEX Sales", "CAPEX Sales" and "Net Debt," which are "non-GAAP financial measures" as defined under the rules of the Securities and Exchange Commission (the "SEC"), are intended as supplemental measures of our financial per ...

Core Insights - CECO Environmental Corp. and Thermon Group Holdings, Inc. will hold a joint fireside chat at the 38th Annual Roth Conference on March 23, 2026 [1] Company Overview CECO Environmental - CECO Environmental is a leading environmentally focused, diversified industrial company that serves various industrial air, water, and energy transition markets globally [3] - The company operates through key business segments: Engineered Systems and Industrial Process Solutions, providing innovative technology and application expertise [3] - CECO aims to improve air quality, optimize the energy value chain, and offer custom solutions across multiple applications, including power generation, petrochemical processing, and battery recycling [3] - CECO is listed on Nasdaq under the ticker symbol "CECO" and was incorporated in 1966, with its global headquarters in Addison, Texas [3] Thermon Group Holdings - Thermon is a diversified industrial technology company and a global leader in industrial process heating, temperature maintenance, and environmental monitoring solutions [4] - The company focuses on delivering engineered solutions that enhance operational awareness, safety, reliability, and efficiency, aiming for the lowest total cost of ownership [4] - Thermon is headquartered in Austin, Texas [4]

Company Overview - Thermon Group Holdings is a leading provider of industrial process heating solutions with a global footprint and a diversified customer base [6] - The company offers engineered industrial process heating solutions, including electric and gas heating products, heat tracing systems, control panels, and specialty products for industrial applications [8] - Thermon serves various sectors, including chemical and petrochemical, oil and gas, power generation, rail and transit, commercial, transportation, food and beverage, pharmaceutical, mineral processing, data centers, and semiconductor industries [8] Financial Performance - As of the latest report, Thermon generated approximately $147 million in revenue for its fiscal third quarter, reflecting a 10% increase year-over-year [9] - New orders rose by 14% to $158.2 million during the same period [9] - The company has increased its full-year revenue guidance for 2026 to a range of $516 million to $526 million, alongside adjusted EBITDA expectations of $114 million to $120 million [9] Investment Insights - Clifford Capital Partners increased its stake in Thermon Group Holdings by purchasing 414,006 shares, valued at an estimated $13.59 million [2] - Following this transaction, Clifford Capital's stake in Thermon represents 2.72% of its 13F reportable assets under management as of December 31, 2025 [7] - Thermon’s stock price was $46.94, showing a 60% increase over the past year, significantly outperforming the S&P 500, which rose about 21% during the same period [7]

Core Viewpoint - The proposed sale of Thermon Group Holdings, Inc. to CECO Environmental Corp. is under investigation to assess whether the transaction adequately values Thermon and the process leading to this valuation is appropriate [1]. Group 1: Transaction Details - Shareholders of Thermon may choose to receive for each share of common stock: (i) $10.00 in cash and 0.6840 shares of CECO common stock, (ii) $63.89 per share, or (iii) 0.8110 shares of CECO common stock per share [1]. - The transaction is subject to proration and allocation procedures to ensure that the total cash and stock paid does not exceed specified limits [1]. Group 2: Legal Investigation - Kahn Swick & Foti, LLC is investigating the proposed sale to determine if the consideration offered undervalues Thermon [1]. - The firm is open to discussions regarding legal rights related to the proposed sale without obligation or cost to interested parties [2].

Core Viewpoint - The M&A Class Action Firm is investigating Thermon Group Holdings, Inc. regarding its proposed sale to CECO Environmental Corp, questioning the fairness of the deal for shareholders [1]. Summary by Relevant Sections Proposed Transaction Details - Thermon shareholders can choose from three options for their shares: (i) $10.00 in cash and 0.6840 shares of CECO common stock, (ii) $63.89 in cash per share, or (iii) 0.8110 shares of CECO common stock per share [1]. Legal Context - The M&A Class Action Firm, led by attorney Juan Monteverde, has a successful track record in recovering millions for shareholders and is recognized in the 2024 ISS Securities Class Action Services Report [1].

Core Viewpoint - The M&A Class Action Firm is investigating CECO Environmental Corp. regarding its merger with Thermon Group Holdings, Inc., focusing on whether the deal is fair for CECO shareholders who will own approximately 62.5% of the combined company after the transaction [1]. Group 1: Company Overview - CECO Environmental Corp. is involved in a merger with Thermon Group Holdings, Inc. [1]. - Upon completion of the merger, CECO shareholders are expected to hold about 62.5% of the new entity [1]. Group 2: Legal Investigation - The M&A Class Action Firm, led by attorney Juan Monteverde, has a history of recovering millions for shareholders and is recognized in the 2024 ISS Securities Class Action Services Report [1]. - The firm is conducting an investigation to determine the fairness of the merger deal for CECO shareholders [1].

Core Viewpoint - Halper Sadeh LLC is investigating the proposed sale of Thermon Group Holdings, Inc. to CECO Environmental Corp, focusing on the implications for Thermon shareholders [1] Transaction Details - The proposed transaction offers Thermon shareholders three options for their shares: 1. $10.00 in cash and 0.6840 shares of CECO common stock 2. $63.89 per share 3. 0.8110 shares of CECO common stock per share [1]

Core Insights - CECO Environmental and Thermon Group have announced a definitive agreement to combine in a transaction valued at approximately $2.2 billion, which will enhance CECO's capabilities in industrial process heating and thermal management [1][2][4] Company Overview - CECO Environmental is a diversified industrial company focused on environmentally friendly solutions, while Thermon is a leader in industrial process heating and temperature management [13][14] - The combined company will operate under the CECO Environmental name and will be led by CEO Todd Gleason, with two members from Thermon's board joining CECO's board [1][8] Strategic Benefits - The merger is expected to create a world-class industrial solutions platform, enhancing CECO's leadership in industrial environmental and thermal solutions [2][4] - The combination will provide a comprehensive platform of industrial solutions, addressing critical areas such as thermal and acoustic management, emissions control, and industrial air quality [4][5] Financial Aspects - The transaction will be funded through a mix of cash and stock, with Thermon shareholders having multiple options for consideration, including a mixed option valued at approximately $63.13 per share, representing a 26.8% premium over Thermon's closing stock price [6][7] - The combined entity is projected to generate approximately $40 million in annual cost synergies within 36 months, enhancing its financial profile and resilience [11] Market Position and Growth - The merger positions the combined company to capitalize on durable secular trends such as energy transition, decarbonization, and tightening environmental regulations, which are expected to drive long-term growth [2][11] - The integration of both companies is anticipated to accelerate growth through expanded customer relationships and global reach [2][4]

Core Insights - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] - Thermon Group (THR) currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating potential for outperformance [2][3] Price Performance - THR shares have increased by 2.52% over the past week, outperforming the Zacks Instruments - Control industry, which rose by 2.41% [5] - Over the last month, THR's price change is 25.89%, significantly higher than the industry's 5.19% [5] - In the past quarter, THR shares have risen by 52.52%, and over the last year, they are up 73.4%, while the S&P 500 has only moved 1.74% and 13.08% respectively [6] Trading Volume - THR's average 20-day trading volume is 405,678 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Estimates - In the last two months, three earnings estimates for THR have been revised upwards, increasing the consensus estimate from $2.07 to $2.13 [9] - For the next fiscal year, three estimates have also moved higher with no downward revisions [9] Conclusion - Considering the positive price performance, trading volume, and upward earnings revisions, THR is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]