--- title: "Thermon | 10-K: FY2026 Revenue Beats Estimate at USD 536.26 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/287258349.md" datetime: "2026-05-21T17:56:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287258349.md) - [en](https://longbridge.com/en/news/287258349.md) - [zh-HK](https://longbridge.com/zh-HK/news/287258349.md) --- # Thermon | 10-K: FY2026 Revenue Beats Estimate at USD 536.26 M Revenue: As of FY2026, the actual value is USD 536.26 M, beating the estimate of USD 523.27 M. EPS: As of FY2026, the actual value is USD 1.36, missing the estimate of USD 1.718. EBIT: As of FY2026, the actual value is USD 72.22 M. #### Overall Financial Performance Thermon Group Holdings, Inc. reported sales of $536,263 thousand in fiscal 2026, an 8% increase from $498,207 thousand in fiscal 2025. The cost of sales increased by 7% to $293,207 thousand in fiscal 2026 from $275,311 thousand in fiscal 2025. Gross profit rose by 9% to $243,056 thousand in fiscal 2026 from $222,896 thousand in fiscal 2025, with gross profit as a percentage of sales increasing by 60 basis points to 45.3%. Selling, general and administrative expenses increased by 22% to $158,290 thousand in fiscal 2026 from $129,307 thousand in fiscal 2025, primarily due to higher variable compensation and costs related to the Merger with CECO. Deferred compensation plan expense was $599 thousand in fiscal 2026, up from $452 thousand in fiscal 2025. Amortization of intangible assets was $13,428 thousand in fiscal 2026, a slight decrease from $13,681 thousand in fiscal 2025. Restructuring and other charges were $0 thousand in fiscal 2026, compared to - $301 thousand in fiscal 2025, which included a $3,000 thousand gain from a facility sale. Income from operations decreased by -11% to $70,739 thousand in fiscal 2026 from $79,757 thousand in fiscal 2025. Interest expense, net decreased to - $7,995 thousand in fiscal 2026 from - $10,325 thousand in fiscal 2025. Other income/(expense) increased to $1,482 thousand in fiscal 2026 from $687 thousand in fiscal 2025. Income before provision for income taxes was $64,226 thousand in fiscal 2026, an -8% decrease from $70,119 thousand in fiscal 2025. Net income decreased by -17% to $44,571 thousand in fiscal 2026 from $53,515 thousand in fiscal 2025. #### Segment Revenue - **US-LAM**: Revenue increased by $7,300 thousand, or 2.8%, to $263,288 thousand in fiscal 2026 from $256,006 thousand in fiscal 2025. - **Canada**: Revenue increased by $4,900 thousand, or 3.1%, to $163,838 thousand in fiscal 2026 from $158,969 thousand in fiscal 2025. - **EMEA**: Revenue increased by $26,200 thousand, or 57.9%, to $71,556 thousand in fiscal 2026 from $45,320 thousand in fiscal 2025, largely driven by the F.A.T.I. Acquisition. - **APAC**: Revenue decreased by - $300 thousand, or -0.9%, to $37,581 thousand in fiscal 2026 from $37,912 thousand in fiscal 2025. - **Foreign Exchange Impact**: Revenue was positively affected by foreign exchange rate impacts of approximately $6,100 thousand in fiscal 2026. #### Segment Profit - **US-LAM**: Segment profit was $66,498 thousand in fiscal 2026, compared to $62,951 thousand in fiscal 2025. - **Canada**: Segment profit was $41,208 thousand in fiscal 2026, compared to $40,247 thousand in fiscal 2025. - **EMEA**: Segment profit was $8,249 thousand in fiscal 2026, compared to $3,973 thousand in fiscal 2025. - **APAC**: Segment profit was $4,897 thousand in fiscal 2026, compared to $3,128 thousand in fiscal 2025. #### Cash Flow Net cash provided by operating activities decreased to $46,795 thousand in fiscal 2026 from $63,118 thousand in fiscal 2025. Net cash used in investing activities decreased to - $13,081 thousand in fiscal 2026 from - $14,970 thousand in fiscal 2025. Net cash used in financing activities decreased to - $17,316 thousand in fiscal 2026 from - $56,419 thousand in fiscal 2025. Free Cash Flow totaled $32,864 thousand in fiscal 2026, down from $52,869 thousand in fiscal 2025. #### Other Key Financial Indicators The backlog at March 31, 2026, was $254,900 thousand, compared to $240,300 thousand at March 31, 2025. **Capital Expenditures by Segment (Fiscal Year Ended March 31, 2026 vs. 2025)**: **United States and Latin America**: $6,014 thousand in fiscal 2026, up from $4,347 thousand in fiscal 2025. **Canada**: $6,223 thousand in fiscal 2026, up from $5,114 thousand in fiscal 2025. **Europe, Middle East and Africa**: $1,331 thousand in fiscal 2026, up from $285 thousand in fiscal 2025. **Asia-Pacific**: $363 thousand in fiscal 2026, down from $503 thousand in fiscal 2025. #### Outlook / Guidance Thermon 集团控股 expects its capital expenditures to approximate 3% to 3.5% of revenue in fiscal 2027. The company anticipates $7,800 thousand in principal payments and approximately $6,100 thousand in interest payments on its long-term debt in the next 12 months. Thermon 集团控股 believes it will meet its liquidity needs for the next 12 months and the foreseeable future based on current operations, cash on hand, and available borrowings. ### Related Stocks - [THR.US](https://longbridge.com/en/quote/THR.US.md) ## Related News & Research - [CECO Environmental (CECO) Stock Could Be 37% Undervalued On Recovery Hopes](https://longbridge.com/en/news/294167333.md) - [Baxter Q2 2026 Earnings Preview](https://longbridge.com/en/news/294224876.md) - [What to Expect From Ulta Beauty’s Q2 2026 Earnings Report](https://longbridge.com/en/news/293941254.md) - [JSL updates financial events calendar for 2026](https://longbridge.com/en/news/294067473.md) - [Equatorial Energia updates financial calendar for 2026 disclosures](https://longbridge.com/en/news/294368263.md)