$THR
Thermon Group Holdings, Inc.

2024 Q4 Form 10-Q Financial Statement

#000148909624000201 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $134.4M $114.6M
YoY Change -1.52% -7.29%
Cost Of Revenue $72.23M $63.74M
YoY Change -8.59% -7.9%
Gross Profit $62.12M $50.91M
YoY Change 8.21% -6.51%
Gross Profit Margin 46.24% 44.41%
Selling, General & Admin $34.12M $31.26M
YoY Change 7.13% 2.52%
% of Gross Profit 54.93% 61.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.161M $2.171M
YoY Change 0.42% 1.64%
% of Gross Profit 3.48% 4.26%
Operating Expenses $34.12M $31.26M
YoY Change 7.13% 2.52%
Operating Profit $27.69M $15.20M
YoY Change 29.08% -29.89%
Interest Expense -$2.355M
YoY Change -222.34%
% of Operating Profit -15.49%
Other Income/Expense, Net -$126.0K $563.0K
YoY Change -119.3% -310.86%
Pretax Income $25.03M $12.98M
YoY Change 22.99% -33.43%
Income Tax $6.486M $3.482M
% Of Pretax Income 25.92% 26.83%
Net Earnings $18.54M $9.494M
YoY Change 17.06% -35.55%
Net Earnings / Revenue 13.8% 8.28%
Basic Earnings Per Share $0.55 $0.28
Diluted Earnings Per Share $0.54 $0.28
COMMON SHARES
Basic Shares Outstanding 33.69M shares 33.80M shares
Diluted Shares Outstanding 34.09M shares 34.14M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.00M
YoY Change 21.31%
Cash & Equivalents $38.74M $37.00M
Short-Term Investments
Other Short-Term Assets $33.46M
YoY Change -24.12%
Inventory $92.31M $93.60M
Prepaid Expenses
Receivables $114.6M $93.50M
Other Receivables $1.874M
Total Short-Term Assets $280.2M $275.0M
YoY Change -9.52% 1.9%
LONG-TERM ASSETS
Property, Plant & Equipment $79.22M
YoY Change 22.26%
Goodwill $263.5M $269.5M
YoY Change -1.86% 23.14%
Intangibles $118.1M $120.7M
YoY Change -11.35% 37.16%
Long-Term Investments
YoY Change
Other Assets $16.29M $15.29M
YoY Change 61.48% 67.22%
Total Long-Term Assets $483.2M $486.5M
YoY Change -2.46% 23.53%
TOTAL ASSETS
Total Short-Term Assets $280.2M $275.0M
Total Long-Term Assets $483.2M $486.5M
Total Assets $763.4M $761.5M
YoY Change -5.18% 14.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.70M $30.42M
YoY Change 11.6% -12.09%
Accrued Expenses $32.45M $27.44M
YoY Change -19.66% -10.3%
Deferred Revenue $20.57M $13.40M
YoY Change 33.46% 84.58%
Short-Term Debt $5.000M
YoY Change -81.82%
Long-Term Debt Due $16.88M
YoY Change 65.44%
Total Short-Term Liabilities $109.7M $98.27M
YoY Change -21.51% -16.67%
LONG-TERM LIABILITIES
Long-Term Debt $134.8M $143.2M
YoY Change -17.8% 97.2%
Other Long-Term Liabilities $10.13M $10.23M
YoY Change 3.75% 12.83%
Total Long-Term Liabilities $144.9M $153.4M
YoY Change 1383.57% 1592.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $109.7M $98.27M
Total Long-Term Liabilities $144.9M $153.4M
Total Liabilities $274.7M $271.2M
YoY Change -18.64% 22.5%
SHAREHOLDERS EQUITY
Retained Earnings $325.3M $306.8M
YoY Change 16.73% 16.71%
Common Stock $245.2M $243.2M
YoY Change 1.28% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $488.7M $490.3M
YoY Change
Total Liabilities & Shareholders Equity $763.4M $761.5M
YoY Change -5.18% 14.74%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $18.54M $9.494M
YoY Change 17.06% -35.55%
Depreciation, Depletion And Amortization $2.161M $2.171M
YoY Change 0.42% 1.64%
Cash From Operating Activities $8.562M
YoY Change 160.24%
INVESTING ACTIVITIES
Capital Expenditures $1.862M
YoY Change -33.67%
Acquisitions
YoY Change
Other Investing Activities $17.00K
YoY Change -15.0%
Cash From Investing Activities -$1.845M
YoY Change -33.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.657M
YoY Change 105.71%
NET CHANGE
Cash From Operating Activities 8.562M
Cash From Investing Activities -1.845M
Cash From Financing Activities -5.657M
Net Change In Cash 1.060M
YoY Change -147.32%
FREE CASH FLOW
Cash From Operating Activities $8.562M
Capital Expenditures $1.862M
Free Cash Flow $6.700M
YoY Change 1287.16%

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FiniteLivedIntangibleAssetsAccumulatedAmortization
162081000 usd
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
120726000 usd
CY2024Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
281748000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
154656000 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
127092000 usd
CY2024Q3 thr Employeerelated Liabilities Excluding Compensation Relatedto Acquisition Current
EmployeerelatedLiabilitiesExcludingCompensationRelatedtoAcquisitionCurrent
13773000 usd
CY2024Q1 thr Employeerelated Liabilities Excluding Compensation Relatedto Acquisition Current
EmployeerelatedLiabilitiesExcludingCompensationRelatedtoAcquisitionCurrent
17319000 usd
CY2024Q3 thr Employeerelated Liabilities Acquisition Related Expense Current
EmployeerelatedLiabilitiesAcquisitionRelatedExpenseCurrent
847000 usd
CY2024Q1 thr Employeerelated Liabilities Acquisition Related Expense Current
EmployeerelatedLiabilitiesAcquisitionRelatedExpenseCurrent
494000 usd
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1885000 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
978000 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3010000 usd
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2912000 usd
CY2024Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
3594000 usd
CY2024Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
3564000 usd
CY2024Q3 thr Accrued Litigation Payable Current
AccruedLitigationPayableCurrent
983000 usd
CY2024Q1 thr Accrued Litigation Payable Current
AccruedLitigationPayableCurrent
1356000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3344000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5001000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27436000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
31624000 usd
CY2024Q3 us-gaap Secured Debt
SecuredDebt
160044000 usd
CY2024Q1 us-gaap Secured Debt
SecuredDebt
166582000 usd
CY2024Q3 us-gaap Secured Debt Current
SecuredDebtCurrent
16875000 usd
CY2024Q1 us-gaap Secured Debt Current
SecuredDebtCurrent
14625000 usd
CY2024Q3 us-gaap Secured Long Term Debt
SecuredLongTermDebt
143169000 usd
CY2024Q1 us-gaap Secured Long Term Debt
SecuredLongTermDebt
151957000 usd
CY2024Q3 thr Debt Instrument Covenant Leverage Ratio Maximum
DebtInstrumentCovenantLeverageRatioMaximum
0.50
CY2024Q3 thr Line Of Credit Facility Fixed Charge Coverage Ratio
LineOfCreditFacilityFixedChargeCoverageRatio
1.25
CY2024Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2226000 usd
CY2024Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
13683000 usd
CY2024Q3 thr Guarantee Obligations Secured By Cash Deposits
GuaranteeObligationsSecuredByCashDeposits
831000 usd
CY2024Q3 thr Guarantee Obligations Represented By Reduction Of Available Amount Of Lines Of Credit
GuaranteeObligationsRepresentedByReductionOfAvailableAmountOfLinesOfCredit
2226000 usd
CY2024Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
13683000 usd
CY2024Q3 thr Indian Custom Bonds Outstanding
IndianCustomBondsOutstanding
4332000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
114648000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
123659000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
229774000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
230548000 usd
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
19834000 usd
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
15582000 usd
CY2024Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
16690000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
13402000 usd
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
20531000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.250
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238
CY2024Q3 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
1093000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2024Q3 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
4 country
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2024Q3 us-gaap Depreciation
Depreciation
2171000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
2136000 usd
us-gaap Depreciation
Depreciation
4338000 usd
us-gaap Depreciation
Depreciation
4188000 usd
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3402000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2227000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6799000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4614000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
15203000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
21684000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
28938000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
37098000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
15203000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
21684000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
28938000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
37098000 usd
CY2024Q3 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
2790000 usd
CY2023Q3 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
1925000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
5637000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
3509000 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
563000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-267000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
706000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
74000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12976000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
19492000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
24007000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33663000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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