This Small-Cap Manager Is Up 94%, Betting On Hidden Drivers In The New Economy

Lasers that can shoot down drones. Data center infrastructure powering artificial intelligence.

Forbes • Jun 6, 2026

CECO Environmental and Thermon Group Holdings Announce that their respective Stockholders Approved the Strategic Combination and Provide Update on Election Results

ADDISON, Texas and AUSTIN, Texas, May 28, 2026 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) (“CECO”) and Thermon Group Holdings, Inc. (NYSE: THR) (“Thermon”) announced that both companies' stockholders overwhelmingly voted to approve the previously announced strategic combination at their respective stockholder meetings held earlier today. Preliminary results showed that approximately 99.93% of votes cast at CECO's annual meeting were voted in favor of the transaction, and nearly 99.97% of the votes cast at Thermon's meeting were in support of the combination.

GlobeNewsWire • May 28, 2026

CECO Environmental and Thermon Group Holdings Announce That Their Respective Stockholders Approved the Strategic Combination and Provide Update on Election Results

ADDISON, TX AND AUSTIN, TX / ACCESS Newswire / May 28, 2026 / CECO Environmental Corp. (NASDAQ:CECO) ("CECO") and Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon") announced that both companies' stockholders overwhelmingly voted to approve the previously announced strategic combination at their respective stockholder meetings held earlier today. Preliminary results showed that approximately 99.93% of votes cast at CECO's annual meeting were voted in favor of the transaction, and nearly 99.97% of the votes cast at Thermon's meeting were in support of the combination.

Accesswire • May 28, 2026

Thermon Reports Fourth Quarter And Full-year Fiscal 2026 Results

AUSTIN, TX / ACCESS Newswire / May 19, 2026 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon" or the "Company"), a global leader in industrial process heating solutions, today announced consolidated results for the fourth quarter ("Q4 2026") and full fiscal year ended March 31, 2026 ("Fiscal 2026"). FOURTH QUARTER FISCAL 2026 HIGHLIGHTS (all comparisons versus the prior year period unless otherwise noted) Revenue of $148.3 million, an increase of 11% Gross profit of $65.3 million, an increase of 10%, Gross Margin of 44.0% Net income of $2.7 million, a decrease of 84%, $0.08 EPS Adjusted Net Income (non-GAAP) of $18.3 million, a decrease of 3%, $0.55 Adjusted EPS (non-GAAP) Adjusted EBITDA (non-GAAP) of $32.1 million, an increase of 5%; Adjusted EBITDA margin (non-GAAP) of 21.6% New orders of $143.5 million, an increase of 3%; book-to-bill ratio of 0.97x Net leverage ratio of 0.7x as of March 31, 2026 FULL YEAR 2026 HIGHLIGHTS (all comparisons versus the prior year period unless otherwise noted) Revenue of $536.3 million, an increase of 8% Gross profit of $243.1 million, an increase of 9%; Gross Margin of 45.3% Net income of $44.6 million, a decrease of 17%, $1.36 EPS Adjusted Net Income (non-GAAP) of $70.5 million, an increase of 11%, $2.15 Adjusted EPS (non-GAAP) Adjusted EBITDA (non-GAAP) of $119.6 million, an increase of 9%; Adjusted EBITDA margin (non-GAAP) of 22.3% New orders of $550.8 million, an increase of 3%; book-to-bill ratio of 1.03x Proposed transaction with CECO Environmental Corp. ("CECO") on track to close in June 2026 MANAGEMENT COMMENTARY "Our disciplined focus on our strategic growth priorities enabled us to sustain and build upon the recent momentum in our business, resulting in a strong finish to fiscal 2026, capping a record year for revenue, Adjusted EBITDA, and orders," stated Bruce Thames, President and CEO of Thermon.

Accesswire • May 19, 2026

Thermon Group (THR) Q4 Earnings Miss Estimates

Thermon Group (THR) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.56 per share a year ago.

Zacks Investment Research • May 19, 2026

Thermon Group Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Thermon Group Holdings, Inc. - THR

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Thermon Group Holdings, Inc. (NYSE: THR) to CECO Environmental Corp. (NasdaqGS: CECO). Under the terms of the proposed transaction, shareholders of Thermon may elect to receive, for each share of Thermon common stock, either: (i) $10.00 in cash and 0.6840 shares of CECO common stock, (ii) $63.8.

Business Wire • Apr 30, 2026

Thermon Group (THR) Surges 11.9%: Is This an Indication of Further Gains?

Thermon Group (THR) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Zacks Investment Research • Apr 29, 2026

Thermon Highlights Enhanced Organic Growth Opportunity Driven by Accelerating Momentum from New Products in Data Centers

AUSTIN, TX / ACCESS Newswire / April 20, 2026 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon"), today announced accelerating order and quoting activity across key new product platforms, led by strong demand for its liquid load bank solutions serving the rapidly expanding data center market. The company's quote log for liquid load banks has expanded to over $100 million as of April 2026, up nearly 70% from just two months ago.

Accesswire • Apr 20, 2026

Thermon Group (THR) Upgraded to Buy: Here's Why

Thermon Group (THR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Zacks Investment Research • Mar 30, 2026

2 Instruments Stocks Set to Ride on Energy-Efficient Industrial Thrust

The increasing adoption of industrial automation, focus on higher energy efficiency and optimal resource utilization should drive the Zacks Instruments - Control industry. ST and THR are well-positioned to gain from the evolving market dynamics.

Zacks Investment Research • Mar 26, 2026