Thermal Energy International Swings to Q1 Net Loss

12:31 PM EDT, 10/27/2026 (MT Newswires) -- Thermal Energy International (TMG.V) reported a first-quarter net loss of about CA$272,000, compared with net income of approximately CA$166,000 a year earlier. Revenue decreased to CA$6.2 million in the three months ended Aug. 31 compared with CA$6.9 million, a year-ago. "Our revenue for the quarter was adversely impacted by delays in the delivery of a couple of heat recovery projects because a customer's facilities were not yet ready for the projects to advance, which was outside our control," said Thermal Energy Chief Executive Officer William Crossland. "The delays do not change the value of the projects or the demand we continue to see for our energy efficiency and decarbonization solutions." Shares of the company were last seen down 9.7% at CA$0.14 on the TSX Venture Exchange. Price: 0.14, Change: -0.02, Percent Change: -9.68