Thermon Group Holdings (NYSE: THR) reported Q1 EPS of $0.01, $0.03 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $51.7 million versus the consensus estimate of $58.35 million.

Outlook

Based on the weaker than expected Q1 2018 performance, we are revising our full year fiscal 2018 revenue guidance to a low to mid single-digit decline as compared to fiscal 2017.

Financial summary for Q1 2018 compared to the three months ended June 30, 2016 ("Q1 2017"):

• Revenue of $51.7 million, a decrease of 18%
• Backlog of $110.2 million vs. $95.4 million, growth of 16%
• Orders of $55.1 million, a 29% decrease
• Gross margin of 46% vs. 41%
• Fully diluted GAAP EPS of $0.01 vs. $0.08

For earnings history and earnings-related data on Thermon Group Holdings (THR) click here.