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Earnings Call Summary | THERMAL ENERGY INTERNATIONAL INC(TMGEF.US) Q3 2024 Earnings Conference

Futu News ·  Apr 28 02:10  · Conference Call

The following is a summary of the Thermal Energy International Inc. (TMGEF) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • Thermal Energy International posted a Q3 revenue of $6.1 million, a growth of 8%.

  • Its EBITDA and net income for the quarter were $322,000 and $44,000 respectively.

  • The company achieved its highest ever 12-month revenue of $26.6 million, a 26% increase from the last fiscal year.

  • The 12-month revenue represented a 75% increment over the past two years.

  • The 12-month EBITDA was $2.7 million, up by a massive 240% from the year-ago period.

Business Progress:

  • The company made strategic investments in human resources, technology and facilities for future growth.

  • It hired nine new employees and invested in CREST, a mobile app for potential energy savings.

  • New ERP and accounting systems were implemented and the UK operations base was expanded.

  • The firm witnessed a record high in order intake ($29.6 million) and a substantial order backlog ($20.4 million).

  • With a focus on organic growth and strategic acquisitions, the company looks forward to an optimistic future.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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