---
schema_version: "secwatch.filing_event.v1"
accession: "0001489096-23-000017"
form_type: "8-K"
ticker: "THR"
cik: "0001489096"
company_name: "Thermon Group Holdings, Inc."
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T02:13:37.272467+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Thermon Q3 revenue up 21% to $122.1M, adjusted EPS $0.52; announces Russia exit with $8.3M charge

## Summary
- Revenue $122.1M (+21% YoY); GAAP EPS $0.25, adjusted EPS $0.52 (+41%); record bookings $126M.
- Raises FY2023 guidance: revenue $429-437M, GAAP EPS $1.11-1.15, adjusted EPS $1.55-1.59.
- Board authorized withdrawal from Russia; $8.3M pretax charge in Q3; total estimated $12-15M.
- Net debt/EBITDA ratio improved to 1.1x from 2.2x; free cash flow $17.6M.
- Organic sales up 14% excluding Powerblanket acquisition; Powerblanket contributed $7.9M.

## SEC filing metadata
- accession: 0001489096-23-000017
- form_type: 8-K
- ticker: THR
- cik: 0001489096
- company_name: Thermon Group Holdings, Inc.
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1489096/000148909623000017/0001489096-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1489096/000148909623000017/thr-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001489096-23-000017
- JSON: https://secwatch.observer/filing/0001489096-23-000017.json
- Plain text: https://secwatch.observer/filing/0001489096-23-000017.txt

## Key facts
- Earnings Releases
  Thermon Group Holdings, Inc. reported third quarter of the fiscal year ending March 31, 2023 results: revenue $122.1 million, net income $8.4 million, EPS $0.25. Guidance raised.
  - Period: third quarter of the fiscal year ending March 31, 2023
  - Revenue: $122.1 million
  - Net income: $8.4 million
  - EPS: $0.25
  - Guidance: raised
  - Result: reported results
  source text: The Company also reported GAAP net income of $8.4 million and fully diluted GAAP earnings per share (“EPS”) of $0.25, impacted by charges related to the Russia Exit by $7.3 million or $0.22 earnings per share, respectively. Key highlights for Q3 2023 as compared to the three months ended December 31, 2021 ("Q3 2022") include: • Produced revenue of $122.1 million, an increase of 21%, driven by sales growth in the US, Canada and Latin America
  evidence_url: https://www.sec.gov/Archives/edgar/data/1489096/000148909623000017/0001489096-23-000017-index.htm
- Restructurings & Charges
  Thermon Group Holdings, Inc. announced a restructuring with charges of approximately $8.3 million affecting operations in the Russian Federation.
  - Type: restructuring
  - Charge: approximately $8.3 million
  - Affected area: operations in the Russian Federation
  source text: As a result of the continued impact of the Russo-Ukrainian war, including the sanctions related thereto, the Company conducted a strategic assessment of its operations in the Russian Federation, and, on January 31, 2023, the board of directors authorized the Company to withdraw from its operations in the Russian Federation (the “Russia Exit”), through a planned disposition of its Russian subsidiary. The charges of approximately $8.3 million recognized in the third fiscal quarter, related to the strategic assessment, were comprised of impairments of assets and other charges at December 31, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1489096/000148909623000017/0001489096-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.