Thermon Group Holdings, Inc. (NYSE:THR) Q3 2024 Earnings Call Transcript

And certainly, we believe we can drive double digit growth with that business going forward by plugging that into the global thermal Neville, first of all, we believe that will continue to grow independent of what we do at Star mine, but we are also seeing very early signs that our third-party channels are bringing more opportunities that they had not seen previously. So that represents upside to the growth model. And then on the other side of that our operational excellence program by implementing the thermal business system, we believe there’s some low-hanging fruit there where we can drive incremental EBITDA margins from that business, say over the next 24 months. So that’s really what we see with this business center, and it’s really well positioned and fits our strategy quite well.

Jonathan Braatz : Bruce, would you say there in terms of electrification efforts at vapor that they’re sort of a step ahead of everybody such that if I need a electric boiler, they’re going to be one of the first calls I make.

Bruce Thames: Yes, without question, particularly within a certain range of sizes and temperatures and pressures they are very well respected and have a really nice portfolio of solutions so absolutely.

Jonathan Braatz : Okay. All right. Thank you very much.

Operator: Thank you. We have reached the end of our question and answer session. I would now like to turn the floor back over to Mr. Bruce Thames, President and CEO for closing remarks.

Bruce Thames: Thank you, Brian and [indiscernible], and thank you all for your interest in Thermon, and thank you for joining us here today. Enjoy the rest of your day.

Operator: Thank you. That does conclude today’s teleconference. We appreciate your participation. You may disconnect your lines at this time and enjoy the rest of your day.