Thermon Group shares spike on solid Q3 numbers, Q4 forecast

Feb 4, 2015
Austin Business Journal

Shares of Thermon Group Holdings Inc. spiked sharply Tuesday as the company announced record third quarter revenue in filings with the U.S. Securities and Exchange Commission

The Austin-based manufacturer of heat tracing and temperature controls for pipes saw revenue increase to $87.6 million, up 23 percent from the same time period in 2014

Orders at Thermon Group also were up 17 percent over the third quarter of 2014, and the company saw adjusted earnings per share of 48 cents, compared to 39 cents per share during the same time last year, easily beating analysts' estimates

Thermon Group's stock gained 7.4 percent on Tuesday, closing the day at $22.62, up $1.56

"In the near term, based on our current backlog and expectations for the end of heating season during the fourth quarter, we believe that our full fiscal 2015 revenue will reflect a 9 to 10 percentage point increase year over year," said Rodney Bingham, Thermon Group's president and CEO, in a statement accompanying the earnings release

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