Thermon Group Holdings announced its fiscal 2026 second‑quarter results on Thursday, reporting revenue of $131.7 million, a 14.9% year‑over‑year increase. Gross profit rose 20% to $61.1 million, lifting the gross margin to 46.4%. Net income climbed 57.9% to $15.0 million, or $0.45 per diluted share, while adjusted EBITDA reached $30.6 million, a 28.6% jump, with a margin of 23.2%.
New orders for the quarter totaled $131.0 million, giving a book‑to‑bill ratio of 1.0x and underscoring healthy demand. The company’s net leverage ratio stood at 1.0x, reflecting a strong balance sheet. President and CEO Bruce Thames said the results exceeded expectations across the board, highlighting the resilience of Thermon’s operating‑expenditure‑driven business model.
Thermon also raised its full‑year 2026 guidance, signaling confidence in continued growth and margin expansion. The company’s robust free‑cash‑flow generation and low leverage position provide flexibility for future investments and shareholder returns. These results reinforce Thermon’s strategic shift toward higher‑margin OpEx revenue and its ability to navigate a challenging CapEx environment.
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