CECO Environmental Corp. reported strong financial results for Q4 2025, with orders exceeding $1 billion and gross profit margins of 35%. The company announced a strategic merger with Thermon Group and raised its 2026 full-year outlook to revenue between $925-$975 million and Adjusted EBITDA between $115-$135 million, excluding the impact of the merger.

In Q4, CECO saw a 50% increase in orders to $329.3 million, a 47% increase in backlog to $793.1 million, and a 35% increase in revenue to $214.7 million. For the full year 2025, the company reported orders of $1.06 billion, revenue of $774.4 million, and gross profit margins of 34.8%.

CECO’s CEO, Todd Gleason, highlighted the company’s record-breaking performance in 2025, driven by strong order bookings and revenue growth. The company also reported a quarterly operating income of $16.5 million in Q4 and a full-year operating income of $105.9 million, reflecting significant growth year-over-year.

The company’s non-GAAP net income for 2025 was $32.6 million, up 22% from the previous year. Adjusted EBITDA for the year was $90.3 million, a 44% increase from 2024. CECO also reported free cash flow of $9.6 million for 2025, showing a positive financial performance.

CECO’s outlook for 2026 includes revenue growth of approximately 25% and Adjusted EBITDA growth of around 40% at the midpoint of the range. The company expects to continue its strong performance in key markets and execute its operating model effectively, excluding the impact of the merger with Thermon.

CECO Environmental Corp. provided non-GAAP financial measures to supplement its GAAP results, aiming to offer investors a clearer view of the company’s financial performance. These measures, including Adjusted EBITDA and free cash flow, are used by management to evaluate ongoing financial performance and are reconciled to GAAP measures for transparency.

Investors should be aware that forward-looking statements included in the press release are subject to risks and uncertainties that could impact actual results. Factors such as the proposed merger with Thermon, economic conditions, and regulatory changes may affect the company’s performance. CECO will continue to monitor and update investors on any developments.

Read more at GlobeNewswire: CECO Environmental Reports Fourth Quarter and Full Year