Thermon Group Holdings, Inc. has recently released its 10-Q report, providing an insight into its financial condition and operations. The company, founded in 1954 and headquartered in Austin, Texas, offers a wide range of engineered industrial process heating solutions, including heat tracing, tubing bundle solutions, temporary power systems, heated blankets, electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, and industrial heating and filtration solutions.
The 10-Q report delves into the company's financials, shedding light on its revenue sources and geographical segments. During the nine months ended December 31, 2026, approximately 52% of Thermon's revenues were generated from outside of the United States. The company maintains four reportable segments based on four geographic countries or regions in which it operates: United States and Latin America ("US-LAM"), Canada, Europe, Middle East and Africa ("EMEA"), and Asia-Pacific ("APAC").
Cost of sales is a significant component of Thermon's financials, encompassing the cost of raw materials, ancillary products, construction labor costs, contract engineering costs, direct labor costs, shipping and handling costs, and other costs associated with its manufacturing/fabrication operations. The report also outlines the company's operating expenses, primarily comprised of compensation and related costs for sales, marketing, pre-sales engineering, administrative personnel, and other sales-related expenses.
The report highlights the key drivers affecting Thermon's results of operations, including the impact of product mix. The company's revenue mix consists of point-in-time revenue and over-time revenue, with the latter further divided into small projects and large projects. Thermon's results of operations are influenced by the mix of products and services it offers, as well as the level of service and construction needs, which affect the profit margin for each type of revenue.
As a result of these announcements, the company's shares have moved -0.7% on the market, and are now trading at a price of $41.06. For the full picture, make sure to review Thermon's 10-Q report.
