THR - Thermon beats FQ1 top and bottom line estimates; raises FY24 outlook
2023-08-03 07:45:42 ET
- Thermon press release ( NYSE: THR ): FQ1 Non-GAAP EPS of $0.40 beats by $0.11 .
- Revenue of $106.9M (+12.0% Y/Y) beats by $7.18M .
- Adjusted EBITDA of $22.1 million, an increase of 33%, driven by volume growth and prudent cost management.
- Reached bookings of $120.1 million, with a book-to-bill ratio of 1.12x.
- Backlog was $178.1 million as of June 30, 2023, representing a $13.1 million increase, or 8%, as compared to Q1 2023 backlog of $165.0 million.
- Orders in Q1 2024 were $120.1 million compared to $103.3 million in Q1 2023, an increase of $16.8 million, or 16%.
- Raising FY 2024 Revenue and EPS Guidance : "We are narrowing the range of our guidance to revenue of approximately $462 - $488 million vs. consensus of $469.82M, which includes a full twelve months of revenue contribution from the Powerblanket acquisition, and we are raising GAAP EPS in Fiscal 2024 to be approximately $1.48 - $1.62 per share, with Adjusted EPS to be approximately $1.69 - $1.83 per share vs. consensus of $1.73."
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Thermon beats FQ1 top and bottom line estimates; raises FY24 outlook