CECO Environmental Corp.
48.04-0.46 (-0.95%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · CECO · USD
Key Stats
Market Cap
1.70BP/E (TTM)
33.59Basic EPS (TTM)
1.43Dividend Yield
0%Recent Filings
8-K
CECO Q3 revenue up 46%
CECO Environmental crushed Q3 2025 with revenue surging 46% to $197.6 million and orders leaping 44% to $232.9 million, pushing backlog to a record $719.6 million. Adjusted EBITDA climbed 62% to $23.2 million, fueled by diversified environmental solutions in air, water, and energy markets, while free cash flow jumped 71% to $19.0 million. Backlog visibility supports reaffirmed 2025 guidance of $725-$775 million revenue and $90-$100 million adjusted EBITDA, plus new 2026 outlook for $850-$950 million revenue. Integration risks from recent acquisitions linger.
10-Q
Q3 FY2025 results
CECO Environmental's Q3 revenue surged 45.8% year-over-year to $197.6M, fueled by 35% organic growth from robust backlog execution in energy and power sectors, while gross margin dipped slightly to 32.7% on project mix shifts. Operating income rose 30.8% to $9.4M, supported by Engineered Systems' 57.4% sales jump to $143.7M, though Industrial Process Solutions faced headwinds from the Q1 divestiture of Global Pump Solutions for $107.8M net proceeds, yielding a $63.7M gain. Diluted EPS held at $0.04, aligning with 36.4M shares and no material anti-dilution. Cash stood at $32.8M with $109.1M revolver availability under the $400M facility maturing 2029, total debt $220.9M at 7.02% average rate; free cash flow not disclosed in the 10-Q. Acquisitions like Profire in January 2025 for $120.4M cash bolstered combustion tech, recognizing $25.7M goodwill and $41.8M finite-lived intangibles over 7-10 years. Yet supply chain disruptions pose ongoing risks.
8-K
CFO receives performance stock grant
CECO Environmental granted CFO Peter K. Johansson 30,000 performance-based restricted stock units on September 12, 2025, vesting fully on September 12, 2029, if the stock hits $60 for 20 consecutive trading days and he stays employed. Payouts scale to 200% for prices up to $100, aligning his incentives with shareholder value. Change in control accelerates vesting based on performance. This ties executive pay to stock growth.
8-K
Record Q2 orders, raised guidance
CECO Environmental crushed Q2 2025 with orders surging 95% to $274.1 million and revenue climbing 35% to $185.4 million, fueled by a record-breaking power generation deal and robust energy transition demand. Backlog hit an all-time high of $688.1 million, up 76%, while adjusted EBITDA rose 45% to $23.3 million. Orders exploded. The company raised its full-year revenue guidance to $725-$775 million, signaling sustained momentum despite supply chain hurdles.
10-Q
Q2 FY2025 results
CECO Environmental's Q2 revenue surged 34.8% year-over-year to $185.4M, with Engineered Systems up 32% to $128.5M on energy infrastructure demand, while Industrial Process Solutions grew 42% to $56.9M despite the Global Pump divestiture. Gross margin edged up to 36.2% from 35.6%, but operating income rose 95% to $18.1M, aided by a $7.4M earn-out gain from the WK Group deal. Diluted EPS climbed to $0.26 from $0.12, reconciling to 36.6M shares. Acquisitions like Profire in January 2025 for $120.4M cash added $41.8M finite-lived intangibles over 7-10 years; the March Pump sale fetched $105.9M proceeds, recognizing $64.5M goodwill. Cash stood at $36.8M with $104.3M revolver availability under covenants, total debt $238.7M at 7.3% rate maturing 2029. Free cash flow not disclosed in the 10-Q. Backlog hit $688M. Tariff pressures loom large.
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