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Industrial process heating solutions provider Thermon (NYSE:THR) will be reporting earnings tomorrow before the bell. Here’s what investors should know.
Thermon missed analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $134.4 million, down 1.5% year on year. It was a slower quarter for the company, with full-year EBITDA guidance meeting analysts’ expectations and EBITDA in line with analysts’ estimates.
Is Thermon a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Thermon’s revenue to grow 4.7% year on year to $133.6 million, in line with the 4.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Thermon has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Thermon’s peers in the electrical systems segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Kimball Electronics’s revenues decreased 11.9% year on year, beating analysts’ expectations by 10.8%, and Allegion reported revenues up 5.4%, topping estimates by 2%. Kimball Electronics traded up 25.1% following the results while Allegion was also up 7.9%.
Read our full analysis of Kimball Electronics’s results here and Allegion’s results here.
There has been positive sentiment among investors in the electrical systems segment, with share prices up 17.2% on average over the last month. Thermon is up 18.7% during the same time and is heading into earnings with an average analyst price target of $36.50 (compared to the current share price of $29.70).
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