Thermon Group Holdings, Inc. · NYSE:THR

Thermon — Q3 2026 Earnings Presentation

17 slides from Thermon's earnings presentation, Feb 5, 2026

  1. Slide 1: Thermon Group Holdings, Inc. Earnings Presentation

    THERMON GROUP HOLDINGS, INC. EARNINGS PRESENTATION THIRD QUARTER FISCAL YEAR 2026 FEBRUARY 5, 2026

  2. Slide 2: Cautionary Note Regarding Forward-looking Statements

    Cautionary Note Regarding Forward-looking Statements This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws in addition to historical information. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Sec

  3. Slide 3: Trailing Twelve Months Highlights

    Trailing Twelve Months Highlights $522MM 45.4% 22.6% $2.13 $55MM $36MM Adj. EBITDA Total Revenue Gross Margin Adjusted EPS Free Cash Flow Share Repurchases Margin $549MM 1.05x 70% $100M 27 0.8x 3D Initiatives Total Bookings Book-to-Bill Diverse Mkt. Sales New Products Net Leverage Revenue 7% 7% 17%

  4. Slide 4: Third Quarter 2026 Highlights

    Third Quarter 2026 Highlights • Q3 revenue increased 10% driven by improved trends in CAPEX sales activity and pricing benefits • Adjusted EBITDA increased 12%; margin of 24.2% (up 50 bps y- o-y) illustrative of earnings capacity of the business • Positioned to benefit from several favorable secular

  5. Slide 5: Thermon's Strategic Pillars

    Thermon’s Strategic Pillars D E C A R B O N I Z AT I O N , D I S C I P L I N E D C A P I TA L P R O F I T A B LY G R O W D I G I T I Z AT I O N & A L L O C AT I O N I N S TA L L E D B A S E D I V E R S I F I C AT I O N • Apply industry leading process • Leverage existing Thermon • Drive organic grow

  6. Slide 6: Scaling Two Strategic Growth Platforms

    Scaling Two Strategic Growth Platforms Liquid Load Banks M e d i u m Vo l t a g e H e a t e r s LIQUID LOAD BANK PRODUCT LAUNCH UPDATE: Quote log expanded from ~$30M to Current pipeline has expanded to over 2x Quote ~$60M from September 2025, +$150M reflecting accelerating customer Expanding Log Gro

  7. Slide 7: Q3 FY26 Operating Highlights

    Q3 FY26 Operating Highlights • Revenues increased 10% driven by more favorable spending US$ millions, trends, including improved trends in large projects, and FY26 Q3 FY25 Q3 YOY% except per share data strong pricing benefits Revenue $147.3 $134.4 9.6% • OPEX Sales2 +5% as reported • CAPEX Sales3 +3

  8. Slide 8: Balance Sheet and Cash Flow

    Balance Sheet and Cash Flow SELECTED BALANCE SHEET SELECTED CASH FLOW US$ millions FY26 Q3 FY25 Q3 YOY% US$ millions FY26 Q3 FY25 Q3 YOY% Cash and Cash Net Income $18.3 $18.5 (1.1%) $46.9 $38.7 21.2% Equivalents Depreciation & $5.7 $5.6 1.8% Amortization Total Debt $143.1 $153.4 (6.7%) Change in Wor

  9. Slide 9: Full Year Guidance

    Full Year US$ MILLION, EXCEPT PER SHARE DATA FY25 ACTUAL FY26 PREV FY26E Guidance Revenue $498.2 $506 - $527 $516 - $526 YOY% 1.6% -5.8% 3.6% -5.6% • CAPEX: 2.5% - 3.0% revenue • Depreciation and amortization: ~$23MM Net Income $53.5 • Effective tax rate: ~26% Assumptions: EPS $1.57 $1.62 - $1.77 $1

  10. Slide 10: Track Record of Performance

    Track Record of Performance +14% $600 $2.50 $500 $2.00 Earnings per share Revenue $400 US$ millions $1.50 CAGR $300 $1.00 $200 $100 $0.50 +26% $0 $0.00 Adjusted FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 1 EBITDA CAGR COVID Revenue (MM) Adj. EBITDA (MM) EPS Adj. EPS Q3 FY2026 Earnings 1. Traili

  11. Slide 11: Compelling Investment Opportunity

    Compelling Investment Opportunity • Leading Global Brand in high value, diversified end markets with mission critical technology and high barriers to entry, supported by culture of operational excellence • Large Installed Base with loyal customers and resilient aftermarket franchise • Exposure to Si

  12. Slide 12: Financial Reconciliations

    FINANCIAL RECONCILIATIONS 12

  13. Slide 13: Reconciliation of Net Income to Adjusted EBITDA

    Reconciliation of Net Income to Adjusted EBITDA Unaudited, in thousands Q3 FY2026 Earnings 13

  14. Slide 14: Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS

    Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS Unaudited, in thousands except per share amounts Q3 FY2026 Earnings 14

  15. Slide 15: Reconciliation of Cash Provided by Operating Activities to Free Cash Flow

    Reconciliation of Cash Provided by Operating Activities to Free Cash Flow Unaudited, in thousands Q3 FY2026 Earnings 15

  16. Slide 16: Reconciliation of Point-in-Time and Over-Time Sales to OPEX Sales

    Reconciliation of Point-in-Time and Over-Time Sales to OPEX Sales Unaudited, in thousands Q3 FY2026 Earnings 16

  17. Slide 17: Thermon, Inc contact details

    Thermon, Inc | 7171 Southwest PKWY| Bld 300 Suite 200 | Austin, TX 78735 |USA investor.relations@thermon.com Thermon.com | Copyright 2025. All Rights Reserved.

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