Thermon Group Holdings, Inc. (NYSE:THR) Q1 2021 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 11:00 am ET


Thermon Group Holdings, Inc. (NYSE:THR) Q1 2021 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the First Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Kevin Fox, Vice President, Corporate Development. Thank you. You may begin.

Kevin Fox

Thank you, Maria, and good morning, and thank you for joining today's fiscal 2021 first quarter conference call. Earlier this morning, we issued an earnings press release, which has been filed with the SEC on Form 8-K and is also available on the Investor Relations section of our website.

During the call, we will discuss some items that do not conform to generally accepted accounting principles. We have reconciled those items to the most comparable GAAP measures in the tables at the end of the earnings press release. These non-GAAP measures should be considered in addition to, and not as a substitute for, measures of financial performance reported in accordance with GAAP.

Before I turn this call over to Bruce, I'd like to remind you that during this call, we may make certain forward-looking statements regarding our Company. Please refer to our annual report and most recently filed quarterly report with the SEC for more information regarding our forward-looking statements, including the risks and uncertainties that could impact our future results.

Our actual results may differ materially from those contemplated by these forward-looking statements, and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

With that said, I'll ask Bruce Thames, our President and CEO, to begin with his opening remarks.

Bruce A. Thames

Kevin, thank you, and good morning. We hope everyone listening is staying safe and in good health. We appreciate you joining our conference call today and for your interest in Thermon. Jay Peterson, our CFO, is with me and will provide additional information on our financial performance following my remarks.

Since our last update in June, the Thermon team has remained focused on the safety and security of our employees, customers, suppliers and the communities in which we live. As a supplier to critical infrastructure, we have remained open for business and have continued to focus on supporting our global customers.

We have experienced temporary facility closures due to local or regional restrictions in locations such as India and Russia during the quarter, although both of these locations have begun to see an easing in restrictions and are now operational.

As we look across the globe, many of our teams in Asia, where the virus first struck, have begun to resume more normalized business activities where the virus has been controlled. We view this as a positive sign of what we may expect in the West as the virus is contained. In many of our other locations, we continue to suspend business travel, work from home where possible, and follow the applicable WHO and CDC protocols.

I would like to thank our Thermon employees around the globe for their