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Thermon(THR) - 2021 Q1 - Earnings Call Transcript
2020-08-09 15:30
Financial Data and Key Metrics Changes - Revenue for Q1 2021 was $56.8 million, down 35% on a constant currency basis compared to the previous year, while adjusted EBITDA decreased by 88% to $1.4 million [14][51] - Gross margins improved by 190 basis points to 42.4%, aided by Canadian Wage Subsidies [15][53] - GAAP EPS was negative $0.18, a decline from $0.04 in the prior year, while adjusted EPS was negative $0.11 compared to $0.15 [55][56] Business Line Data and Key Metrics Changes - The revenue mix shifted to 68% MRO/UE and 32% Greenfield, compared to 51% and 49% in Q1 of fiscal year 2020 [51] - Bookings for the quarter totaled $61 million, down 27% from the prior year, with a positive book-to-bill ratio of 1.07 [15][52] Market Data and Key Metrics Changes - The company’s exposure to oil and gas remains at approximately 55% to 60%, with upstream representing about 14% of fiscal year 2020 revenues [20][21] - Capital budgets are being cut by 20% to 30% due to the pandemic and oil market oversupply, particularly affecting upstream investments [22][23] Company Strategy and Development Direction - The company is focused on value preservation and cash management, having reduced SG&A by $16 million for the fiscal year, with over 75% of these reductions being structural [12][47] - Investments in research and development have more than doubled since 2015, with a focus on enhancing performance and reducing product costs [34][36] Management's Comments on Operating Environment and Future Outlook - Management noted that Q1 represents the low watermark for the year, with expectations for modest improvement in Q2 [41][42] - The company anticipates pent-up demand for products and services as restrictions ease, similar to recovery patterns observed after previous downturns [17][29] Other Important Information - The company generated $3.4 million in cash from operating activities, remaining flat compared to the prior year [19] - The balance sheet remains strong, with cash and investments improving to $48.2 million by the end of June [48][50] Q&A Session Summary Question: Why are July bookings down 33% year-over-year? - Management indicated that bookings are lumpy and affected by a second wave of COVID-19, limiting access to facilities and slowing recovery [63][65] Question: What is the trigger for bringing back SG&A expenses? - Management stated that stabilization in end markets and improved visibility would be necessary before considering reinstating temporary cost reductions [68] Question: Is the expectation for cash flow breakeven still at a 35% to 40% revenue reduction? - Management confirmed that this scenario remains conservative, accounting for depressed gross margins and working capital assumptions [75] Question: What are the expectations for revenue and gross margins moving forward? - Management expects sequential revenue improvement and believes the worst is behind them, with cost actions positively impacting gross margins [80]
Thermon(THR) - 2021 Q1 - Quarterly Report
2020-08-06 19:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-35159 THERMON GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 27-2228185 (State or o ...
Thermon(THR) - 2020 Q4 - Annual Report
2020-06-01 19:55
[Part I](index=5&type=section&id=PART%20I) [Item 1. Business](index=5&type=section&id=Item%201.%20Business) Thermon provides global industrial process heating solutions, with recurring MRO/UE revenue and strategic acquisitions expanding its market footprint - The company operates in the estimated **$4.0 billion** industrial process heating market, serving major end markets like Oil & Gas, Chemical Processing, Power Generation, and Transportation[34](index=34&type=chunk)[35](index=35&type=chunk) - Recurring revenue from Maintenance, Repair, and Operations or Upgrades/Expansions (MRO/UE) is a key driver, representing about **60% of fiscal 2020 revenue**, excluding the THS acquisition[24](index=24&type=chunk) - Strategic acquisitions have expanded the company's product portfolio. The October 2017 acquisition of THS added environmental and process heating products, while the April 2015 acquisition of Sumac added temporary electrical power solutions[25](index=25&type=chunk)[26](index=26&type=chunk)[33](index=33&type=chunk) [Business Overview](index=5&type=section&id=Business%20Overview) - Thermon provides comprehensive industrial process heating solutions, including products (heating units, cables, power solutions), services (engineering, installation, maintenance), and software (design, control systems)[22](index=22&type=chunk) - The company serves a diverse customer base in oil & gas, chemical processing, power generation, transportation, and mining through a global network across more than 30 countries with ten manufacturing facilities on three continents[22](index=22&type=chunk) [Company History](index=6&type=section&id=Company%20History) - Founded in 1954, the company went public in May 2011 (IPO) and is listed on the NYSE under the ticker "THR"[29](index=29&type=chunk)[31](index=31&type=chunk) - Acquired a **75% interest** in Sumac in April 2015 and the remaining **25%** in fiscal 2020, holding **100%** of the equity interest[32](index=32&type=chunk) - Acquired **100%** of CCI Thermal Technologies Inc. (now THS) in October 2017 for approximately **$204.6 million USD**, expanding into advanced heating and filtration solutions[33](index=33&type=chunk) [Industry Overview](index=7&type=section&id=Industry%20Overview) Industrial Process Heating Market Size by End Market (2019 Estimate) | End Market | Estimated Revenue ($) | Market Share (%) | | :--- | :--- | :--- | | Total Market | ~$4.0 billion | 100% | | Oil & Gas | ~$1.5 billion | ~38% | | Chemical Processing | ~$560 million | ~14% | | Power Generation | ~$280 million | ~7% | | Transportation | ~$240 million | ~6% | - The global industrial process heating market is highly fragmented. Thermon believes it is one of the few providers with a global footprint and a comprehensive suite of products and services, which is preferred by large multinational customers[34](index=34&type=chunk) [Segments](index=8&type=section&id=Segments) - The company operates in four geographic reportable segments: United States and Latin America (US-LAM), Canada, Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC)[37](index=37&type=chunk) - Recent acquisitions have been integrated into these segments: THS operations are reported through US-LAM and Canada, Unitemp in EMEA, IPI in US-LAM, and Sumac (TPS) is aggregated in the Canada segment[37](index=37&type=chunk) [Products, Services and Software](index=8&type=section&id=Products%2C%20Services%20and%20Software) - Thermon offers a comprehensive range of products including electric and steam heat tracing cables, tubing bundles, control systems, and various process and environmental heaters[38](index=38&type=chunk) - The company provides extensive project services, including engineering, design, project management, and turnkey construction installation, often automated by custom software technology[51](index=51&type=chunk)[52](index=52&type=chunk)[53](index=53&type=chunk) - Through acquisitions, the product line has expanded to include temporary power solutions (Thermon Power Solutions) and advanced heating/filtration systems (Thermon Heating Systems)[39](index=39&type=chunk)[54](index=54&type=chunk) [Manufacturing and Operations](index=11&type=section&id=Manufacturing%20and%20Operations) - The company operates ten manufacturing facilities across three continents, with its principal facility for flexible heating cables located in San Marcos, Texas[57](index=57&type=chunk) - In 2017, a new manufacturing facility was completed in Russia to better serve the region with local production of key products[64](index=64&type=chunk) - Critical raw materials include polymers, graphite, copper, and stainless steel. The company uses multiple suppliers for most materials to mitigate supply risk[66](index=66&type=chunk) [Competition](index=13&type=section&id=Competition) - The industrial process heating market is fragmented. Thermon's most significant competitor in the industrial electric heat tracing market is nVent Electric plc (NYSE: NVT)[74](index=74&type=chunk) - In the broader industrial process heating market, competitors vary by end-market but generally include nVent Electric, NIBE, Watlow, and Chromalox[74](index=74&type=chunk) [Item 1A. Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from macroeconomic factors, industry cyclicality, operational disruptions, global regulatory complexities, and stock market volatility - The COVID-19 pandemic poses a significant risk, potentially causing reduced demand, operational disruptions, and a slowdown in customer capital spending[84](index=84&type=chunk)[86](index=86&type=chunk) - A significant portion of revenue is tied to the cyclical oil and gas markets; a sustained downturn in energy prices or demand could adversely affect business, as seen with recent price volatility[88](index=88&type=chunk)[90](index=90&type=chunk) - The company has substantial indebtedness (**$176.0 million** at March 31, 2020), and debt agreements impose operating and financial restrictions that could impair financial condition[97](index=97&type=chunk) - Global operations expose the company to risks including political/economic instability, changes in trade relations and tariffs, and complex foreign laws, with approximately **59% of fiscal 2020 revenues** generated outside the U.S[91](index=91&type=chunk)[92](index=92&type=chunk) [Item 1B. Unresolved Staff Comments](index=27&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[153](index=153&type=chunk) [Item 2. Properties](index=27&type=section&id=Item%202.%20Properties) The company's headquarters are in Austin, Texas, with principal manufacturing and warehousing operations in San Marcos, Texas, and numerous other global facilities supporting international business - The company's headquarters and principal executive offices are located in Austin, Texas[155](index=155&type=chunk) - Principal manufacturing and warehousing operations are located in San Marcos, Texas. The company also has facilities in Canada, the Netherlands, France, United Kingdom, Germany, Russia, Mexico, China, Korea, Japan, India, Australia, Malaysia, Bahrain and South Africa[156](index=156&type=chunk) [Item 3. Legal Proceedings](index=28&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various legal proceedings, including a class action in Quebec, but does not anticipate a significant adverse financial impact - The company is involved in various legal proceedings but does not believe the outcome will have a significant adverse effect on its financial position or long-term results[426](index=426&type=chunk)[427](index=427&type=chunk) - As of March 31, 2020, the company has accrued **$3.9 million** for estimated additional costs related to the operational execution of projects[427](index=427&type=chunk) - In January 2020, a class action application was filed in Quebec, Canada related to certain heating elements manufactured by THS. The company believes the claim is without merit and is unable to estimate a possible loss at this time[428](index=428&type=chunk) [Item 4. Mine Safety Disclosures](index=28&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[158](index=158&type=chunk) [Part II](index=29&type=section&id=PART%20II) [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=29&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Thermon's common stock trades on the NYSE, with no cash dividends paid since 2010 due to a focus on growth and credit facility restrictions - The company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol "THR"[161](index=161&type=chunk) - The company has not declared or paid any cash dividends since April 30, 2010, and does not currently intend to, as it plans to retain earnings for business growth. Its credit facility also limits the ability to pay dividends[164](index=164&type=chunk) [Item 6. Selected Financial Data](index=31&type=section&id=Item%206.%20Selected%20Financial%20Data) This section provides a five-year financial summary, showing fiscal 2020 sales of **$383.5 million** and net income of **$11.9 million** Selected Financial Data (Fiscal Years 2016-2020) | Metric | 2020 ($ thousands) | 2019 ($ thousands) | 2018 ($ thousands) | 2017 ($ thousands) | 2016 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | :--- | | **Sales** | $383,486 | $412,642 | $308,609 | $264,130 | $281,928 | | **Gross Profit** | $161,638 | $175,940 | $143,811 | $111,931 | $131,315 | | **Income from Operations** | $32,663 | $48,509 | $32,738 | $22,444 | $36,761 | | **Net Income** | $11,936 | $23,169 | $13,219 | $14,984 | $23,650 | | **Diluted EPS** | $0.36 | $0.69 | $0.36 | $0.45 | $0.71 | | **Total Assets** | $620,905 | $655,762 | $662,477 | $454,080 | $468,677 | | **Total Debt (Principal)** | $176,000 | $206,500 | $225,000 | $81,000 | $94,500 | | **Backlog** | $105,445 | $119,956 | $159,624 | $106,880 | $81,242 | [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses fiscal 2020 results, noting a **7% revenue decrease** to **$383.5 million** due to project demand and market weakness, while liquidity remains strong with **$70.7 million** cash from operations - Revenue for fiscal 2020 decreased by **7%** to **$383.5 million** from **$412.6 million** in fiscal 2019, attributed to lower Greenfield project demand and weakening European markets, with a further decline in Q4 due to COVID-19 and falling oil prices[197](index=197&type=chunk)[199](index=199&type=chunk) - The sales mix (excluding THS) shifted to **40% Greenfield** and **60% MRO/UE** in fiscal 2020, compared to **49% Greenfield** and **51% MRO/UE** in fiscal 2019. Greenfield revenue is an indicator of new contracts and future MRO/UE potential[187](index=187&type=chunk)[188](index=188&type=chunk) - In response to COVID-19 uncertainty, the company took precautionary measures including limiting spending, drawing down **$30.0 million** on its credit facility (post year-end), reducing payroll expenses, and cutting the FY2021 capital expenditure budget[193](index=193&type=chunk) - Net cash from operating activities increased significantly to **$70.7 million** in fiscal 2020 from **$23.2 million** in fiscal 2019, mainly due to improved working capital management[226](index=226&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Fiscal 2020 vs. Fiscal 2019 Performance | Metric | Fiscal 2020 ($M) | Fiscal 2019 ($M) | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | $383.5 | $412.6 | (7.0%) | | **Gross Profit** | $161.6 | $175.9 | (8.0%) | | **Gross Margin** | 42.1% | 42.6% | (0.5 pts) | | **Net Income** | $11.9 | $22.8 | (47.5%) | - The decrease in gross profit was primarily due to lower revenue and a **$4.7 million** one-time charge for operational execution expenses[200](index=200&type=chunk) - Marketing, general and administrative costs increased by **3.6%** to **$106.2 million**, attributed to planned increases to support business growth experienced in fiscal 2019[201](index=201&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) - Primary liquidity sources are cash from operations and a **$60.0 million** revolving credit facility. As of March 31, 2020, the company had **$43.2 million** in cash and no outstanding borrowings on the revolver[214](index=214&type=chunk)[216](index=216&type=chunk) - Subsequent to year-end, in April 2020, the company drew down **$41.4 million** on its revolving credit facility as a precautionary measure due to COVID-19 uncertainty[215](index=215&type=chunk) - Total outstanding principal on the term loan B facility was **$176.0 million** as of March 31, 2020. The company made voluntary prepayments of **$28.0 million** during fiscal 2020[218](index=218&type=chunk) Cash Flow Summary (Fiscal Years) | Cash Flow Activity | FY 2020 ($M) | FY 2019 ($M) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $70.7 | $23.2 | | **Net cash used in investing activities** | ($10.0) | ($10.1) | | **Net cash used in financing activities** | ($46.5) | ($14.1) | [Critical Accounting Policies and Estimates](index=40&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) - Key estimates include revenue recognition (especially for long-term contracts), allowances for doubtful accounts, inventory reserves, and valuation of goodwill and other intangible assets[239](index=239&type=chunk) - Goodwill is tested for impairment annually or more frequently if indicators are present. The company performed its annual test in Q4 fiscal 2020 and determined no impairment existed, despite considering the business decline from COVID-19 and lower oil prices as an indicator[248](index=248&type=chunk)[400](index=400&type=chunk) - The company adopted new lease accounting standards (ASC 842) on April 1, 2019, resulting in the recognition of right-of-use assets and lease liabilities on the balance sheet[241](index=241&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency fluctuations, particularly with **59%** of revenue from outside the U.S., interest rate changes on its **$176.0 million** variable-rate debt, and commodity price volatility - The company is exposed to foreign currency risk as **59% of fiscal 2020 revenue** was generated outside the U.S. The largest exposures are the Canadian Dollar and the Euro against the U.S. Dollar[270](index=270&type=chunk)[272](index=272&type=chunk) - A hypothetical **10% appreciation** of the U.S. dollar relative to the Canadian Dollar would decrease net income by **$1.2 million** for fiscal 2020[272](index=272&type=chunk) - Interest rate risk stems from the variable-rate term loan B facility, which had **$176.0 million** outstanding at March 31, 2020. A **one percent change** in the interest rate would impact annual interest expense by approximately **$1.7 million**[279](index=279&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=49&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited consolidated financial statements for fiscal years 2018-2020, with KPMG LLP issuing an unqualified opinion on both financial statements and internal controls - The independent auditor, KPMG LLP, issued an unqualified opinion on the consolidated financial statements and the effectiveness of the company's internal control over financial reporting as of March 31, 2020[286](index=286&type=chunk)[298](index=298&type=chunk) - The company adopted the new lease accounting standard (ASC 842) on April 1, 2019, using the modified retrospective method. This was identified as a critical audit matter due to the judgment required in its application[288](index=288&type=chunk)[292](index=292&type=chunk) [Notes to Consolidated Financial Statements](index=61&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - Segment reporting is based on four geographic regions: US-LAM, Canada, EMEA, and APAC. For fiscal 2020, US-LAM and Canada were the largest segments by revenue, contributing **$155.5 million** and **$128.4 million**, respectively[319](index=319&type=chunk)[463](index=463&type=chunk) - The company adopted the new revenue recognition standard (ASC 606) on April 1, 2018. For fiscal 2020, approximately **59.6% of revenue** was recognized at a point in time, and **40.4%** was recognized over time[330](index=330&type=chunk)[378](index=378&type=chunk)[379](index=379&type=chunk) - As of March 31, 2020, goodwill was **$198.0 million** and net intangible assets were **$104.5 million**. No impairments were recorded in fiscal 2020, 2019, or 2018[333](index=333&type=chunk)[400](index=400&type=chunk)[401](index=401&type=chunk) [Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=93&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[469](index=469&type=chunk) [Item 9A. Controls and Procedures](index=94&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal controls over financial reporting were effective as of March 31, 2020, having remediated a prior material weakness - Management concluded that disclosure controls and procedures were effective as of March 31, 2020[470](index=470&type=chunk) - Management assessed internal control over financial reporting as effective as of March 31, 2020. This assessment was based on the COSO framework[472](index=472&type=chunk) - The company successfully remediated a material weakness in internal control over financial reporting that existed at March 31, 2019[474](index=474&type=chunk) [Item 9B. Other Information](index=94&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[475](index=475&type=chunk) [Part III](index=95&type=section&id=PART%20III) [Item 10. Directors, Executive Officers and Corporate Governance](index=95&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2020 Proxy Statement, including the company's code of conduct - Information regarding directors, executive officers, and the audit committee is incorporated by reference from the 2020 Definitive Proxy Statement[478](index=478&type=chunk)[480](index=480&type=chunk) - The company has adopted a written code of business conduct and ethics that applies to all employees, officers, and directors, which is available on its website[481](index=481&type=chunk) [Item 11. Executive Compensation](index=95&type=section&id=Item%2011.%20Executive%20Compensation) Information on executive and director compensation is incorporated by reference from the 2020 Definitive Proxy Statement - All information regarding executive compensation is incorporated by reference from the 2020 Definitive Proxy Statement[482](index=482&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=95&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information is incorporated by reference from the 2020 Proxy Statement, with **1,393,936** securities available for future issuance under equity plans - Information on security ownership is incorporated by reference from the 2020 Definitive Proxy Statement[485](index=485&type=chunk) Equity Compensation Plan Information as of March 31, 2020 | Plan Category | Securities to be issued upon exercise | Weighted-average exercise price ($) | Securities remaining available for future issuance | | :--- | :--- | :--- | :--- | | **Approved by security holders** | 550,445 | N/A | 1,393,936 | | **Not approved by security holders** | 60,002 | $5.68 | — | | **Total** | 610,447 | N/A | 1,393,936 | [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=96&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the 2020 Definitive Proxy Statement - All information regarding certain relationships, related transactions, and director independence is incorporated by reference from the 2020 Definitive Proxy Statement[490](index=490&type=chunk) [Item 14. Principal Accountant Fees and Services](index=96&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information on principal accountant fees and services is incorporated by reference from the 2020 Definitive Proxy Statement - Information regarding principal accountant fees and services is incorporated by reference from the 2020 Definitive Proxy Statement[492](index=492&type=chunk) [Part IV](index=98&type=section&id=PART%20IV) [Item 15. Exhibits and Financial Statement Schedules](index=98&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with the annual report, including key agreements and certifications - This section lists all exhibits filed with the Form 10-K, including the Credit Agreement, equity incentive plans, and CEO/CFO certifications[495](index=495&type=chunk)[497](index=497&type=chunk) [Item 16. Form 10-K Summary](index=101&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company did not provide a Form 10-K summary - None[500](index=500&type=chunk)
Thermon(THR) - 2020 Q3 - Quarterly Report
2020-02-06 20:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-35159 THERMON GROUP HOLDINGS, INC. (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Id ...
Thermon(THR) - 2020 Q2 - Earnings Call Transcript
2019-11-09 03:58
Thermon Group Holdings, Inc. (NYSE:THR) Q2 2020 Earnings Conference Call November 5, 2019 11:00 AM ET Company Participants Jay Peterson - CFO Bruce Thames - President and CEO Kevin Fox - VP, Corporate Development Conference Call Participants Brian Drab - William Blair Jon Braatz - Kansas City Capital Operator Greetings. Welcome to Thermon Group Holdings Incorporated Second Quarter Fiscal Year 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer sessi ...
Thermon(THR) - 2020 Q2 - Quarterly Report
2019-11-05 21:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number: 001-35159 THERMON GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 7171 Southwest Parkway, Building 300, Suite 200, Austin, Texas 78735 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ...
Thermon(THR) - 2020 Q1 - Earnings Call Transcript
2019-08-11 12:29
Thermon Group Holdings, Inc. (NYSE:THR) Q1 2020 Earnings Conference Call August 8, 2019 11:00 AM ET Company Participants Jay Peterson - CFO, SVP, Finance, Assistant Secretary & Assistant Treasurer Bruce Thames - President, CEO & Director Kevin Fox - VP, Corporate Development Conference Call Participants Brian Drab - William Blair & Company Operator Greetings, and welcome to the Thermon Group Holdings Inc. First Quarter Fiscal Year 2020 Earnings Conference Call. [Operator Instructions]. As a reminder, this c ...
Thermon(THR) - 2020 Q1 - Quarterly Report
2019-08-08 20:50
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-35159 (Address of principal executive offices)______________________________________(zip code) (512) 690-0600 (Registrant ...
Thermon(THR) - 2019 Q4 - Annual Report
2019-06-12 19:58
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended March 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35159 THERMON GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or ...
Thermon(THR) - 2019 Q3 - Quarterly Report
2019-02-06 20:33
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-35159 THERMON GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...