From GlobeNewswire: 2025-04-29 07:00:00

CECO Environmental Corp. reported strong financial results for the first quarter of 2025, with orders up 57% to $227.9 million and revenue up 40% to $176.7 million. The company’s backlog also increased by 55% to $602.0 million. Gross profit margin was 35.2%, with net income at $36.0 million.

CECO’s CEO, Todd Gleason, highlighted the company’s well-positioned portfolio, with bookings exceeding $200 million for two consecutive quarters. The backlog now exceeds $600 million for the first time in the company’s history. Gleason expressed confidence in continued growth, with an order pursuit pipeline over $5 billion.

Operating income for the first quarter was $61.9 million, a significant increase from the previous year. Adjusted EBITDA was $14.0 million, up 6% from the same period in 2024. However, free cash flow was $(15.1) million, down $13.2 million compared to the first quarter of 2024.

For the full year 2025, CECO maintains its outlook of revenue between $700 to $750 million, representing a 30% increase at the midpoint, and Adjusted EBITDA of $90 to $100 million, up around 50% at the midpoint compared to 2024. The company also expects adjusted free cash flow to be between 60 and 75% of Adjusted EBITDA.

CECO Environmental Corp. is a leading environmentally focused industrial company, serving various markets globally. With a focus on industrial air, water, and energy transition solutions, the company aims to provide safe, clean, and efficient solutions that protect people, the environment, and industrial equipment. CECO is listed on Nasdaq under the ticker symbol “CECO.”



Read more at GlobeNewswire:: CECO Environmental Reports First Quarter 2025 Results