Thermal Energy International ( (TSE:TMG) ) has shared an update.
Thermal Energy International Inc. reported record revenue for the second quarter ending November 30, 2024, with a 22% increase to $8.7 million. Despite lower profitability due to product mix changes and increased investments in infrastructure and staff, the company achieved significant progress in its growth strategy. Thermal Energy’s recent investments, including a larger UK production facility and new technologies, have yet to yield their full benefits, but have set the stage for future expansion. The company noted a strong order backlog and maintained positive cash flow from operations, reinforcing its financial stability and strategic growth plans.
More about Thermal Energy International
Thermal Energy International Inc. is a provider of innovative energy efficiency and carbon emission reduction solutions, serving major corporations worldwide. The company focuses on delivering turn-key heat recovery systems, which contribute to its growth and market presence in the energy efficiency sector.
YTD Price Performance: 17.50%
Average Trading Volume: 151,257
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$39.73M
See more insights into TMG stock on TipRanks’ Stock Analysis page.