Added to YB: 2025-05-08
Pitch date: 2025-05-06
TMG.V [neutral]
Thermal Energy International Inc.
Author Info
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Company Info
Thermal Energy International Inc. engages in the development, engineering, and supply of pollution control products, heat recovery systems, and condensate return solutions in North America, Europe, and internationally.
Market Cap
CAD 19.9M
Pitch Price
CAD 0.10
Price Target
N/A
Dividend
N/A
Sector
Machinery
Category
turnaround
Thermal Energy International ($TMG.V) FINS Review
TMG.V sold: Strong balance sheet (2:1 ratio, $5.14M cash) but disappointing results. Q3 revenue -4% YoY, gross margin collapsed 1100bps to 39%. YTD 25% revenue growth but GP -7% as margins fell 50.8% to 37.9%. First quarterly loss since Q2'22. Backlog -25% despite increased marketing spend. Downgraded to 2.75/5.
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