The market expects CECO Environmental (CECO) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's di ...

Company Overview - CECO Environmental is a leading environmentally focused, diversified industrial company serving industrial air, water, and energy transition markets globally [2][3] - The company operates through key business segments: Engineered Systems and Industrial Process Solutions, providing innovative technology and application expertise [2] Financial Reporting - CECO Environmental will report its second quarter 2024 financial results on July 30, 2024, before the market opens [3] - An earnings call will be hosted at 8:30 a.m. Eastern Time on the same day [3] Business Focus - CECO Environmental aims to improve air quality, optimize the energy value chain, and provide custom solutions for various applications including power generation, petrochemical processing, and electric vehicle production [2] - The company is committed to offering safe, clean, and efficient solutions that protect people, the environment, and industrial equipment [2]

• Great Returns in 2022 & 2023 Transactions Stock Buybacks • $15M repurchased since 2021 (average price ~ $8.20) • $10M remaining on authorization Capital Expenditures • ERP Consolidation Net Repayments $(2.8) Other $ (1.0) • Cybersecurity On term loan $0.0 Repayments Capex $(3.1) On revolver $(12.6) • Adding Mfg. Footprint to absorb sustainable growth Ref: Cash Interest $(3.3) Cash Taxes $(1.0) Leverage Ratio3/ 1.4x 1.4x 1.4x 3/ Leverage Ratio = Net Debt / TTM Bank EBITDA 4/ Capacity = Current Facility Cap ...

CECO Environmental Corp. (NASDAQ:CECO) Q1 2024 Earnings Conference Call April 30, 2024 8:30 AM ET Company Participants Steven Hooser - IR Todd Gleason - President & CEO Peter Johansson - Chief Financial & Strategy Officer Conference Call Participants Aaron Spychalla - Craig Hallam Capital Group Rob Brown - Lake Street Capital Markets Gerry Sweeney - Roth Chris Grenga - Needleman and Company Bobby Brooks - Northern Capital Markets Amit Dayal - H.C. Wainwright Operator Good morning, and welcome to the CECO En ...

CECO Environmental (CECO) came out with quarterly earnings of $0.11 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this maker of air pollution controls and industrial ventilation systems would post earnings of $0.25 per share when it actually produced earnings of $0.28, delivering a surprise of 12%.Over the last four quarters, the company has surpassed consen ...

(Mark one) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), ...

[First Quarter 2024 Performance Overview](index=1&type=section&id=First%20Quarter%202024%20Performance%20Overview) [First Quarter Financial Highlights](index=1&type=section&id=1.1%20First%20Quarter%20Financial%20Highlights) CECO Environmental reported a 12% revenue increase to $126.3 million, a 40% rise in GAAP operating income, and a 36% increase in Adjusted EBITDA to $13.2 million, with free cash flow significantly improving Q1 2024 Key Financial Metrics | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change (%) | | :-------------------- | :----------------- | :----------------- | :--------- | | Revenue | $126.3 | $112.6 | 12% | | Orders | $145.3 | N/A | N/A | | Net Income (GAAP) | $1.5 | $2.0 | -25% | | Net Income (Non-GAAP) | $4.0 | $3.6 | 11% | | GAAP EPS (Diluted) | $0.04 | $0.06 | N/A | | Non-GAAP EPS (Diluted) | $0.11 | $0.10 | N/A | | Adjusted EBITDA | $13.2 | $9.7 | 36% | | Operating Income (GAAP) | $7.7 | $5.5 | 40% | | Operating Income (Non-GAAP) | $10.2 | $7.7 | 32% | | Backlog | $389.5 | N/A | 9% | - Free cash flow significantly improved by **$12.6 million**, moving from **$(14.5) million** in Q1 2023 to **$(1.9) million** in Q1 2024[4](index=4&type=chunk)[7](index=7&type=chunk) [CEO Commentary and Strategic Outlook](index=1&type=section&id=1.2%20CEO%20Commentary%20and%20Strategic%20Outlook) CEO Todd Gleason noted record gross margins, a 1.2 book-to-bill ratio, near-record backlog, and $3 million in stock repurchases, expressing confidence in the sales pipeline and M&A funnel - Achieved **record gross margins**, demonstrating ongoing progress in driving operational excellence programs and steadily advancing and diversifying the overall portfolio[7](index=7&type=chunk) - The **book-to-bill ratio of 1.2** increased the backlog to near-record levels[7](index=7&type=chunk) - Repurchased **$3 million of stock** during the quarter as part of a disciplined capital allocation strategy[7](index=7&type=chunk) - Entered the second quarter with a near-record backlog and the largest, most balanced sales pursuit pipeline, including potentially record-sized energy transition opportunities and a replenished M&A funnel with attractive, strategic, growth businesses[7](index=7&type=chunk) [Full Year 2024 Guidance](index=1&type=section&id=1.3%20Full%20Year%202024%20Guidance) CECO Environmental reaffirmed its 2024 guidance, projecting revenue of $590-$610 million and Adjusted EBITDA of $67-$70 million, supported by a strong sales pipeline 2024 Full Year Guidance | Metric | 2024 Full Year Guidance | YoY Change (Midpoint) | | :---------------- | :---------------------- | :-------------------- | | Revenue | $590 - $610 million | ~10% | | Adjusted EBITDA | $67 - $70 million | ~20% | | Free Cash Flow | 50% - 70% of Adjusted EBITDA | N/A | - The company maintains high conviction in its full-year outlook, supported by a large sales pipeline, energy transition opportunities, and potential M&A additions[8](index=8&type=chunk) [About CECO Environmental](index=2&type=section&id=About%20CECO%20Environmental) [Company Overview](index=2&type=section&id=2.1%20Company%20Overview) CECO Environmental is a leading diversified industrial company providing global solutions for air, industrial water, and energy transition markets since 1966 - CECO Environmental is a leading environmentally focused, diversified industrial company, serving the broad landscape of industrial air, industrial water, and energy transition markets globally, providing innovative solutions and application expertise[10](index=10&type=chunk) - CECO solutions improve air and water quality, optimize emissions management, and increase energy efficiency for highly-engineered applications across various industrial end markets[10](index=10&type=chunk) - Incorporated in **1966**, CECO's global headquarters is in Dallas, Texas, and the company is listed on Nasdaq under the ticker symbol "CECO"[10](index=10&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Income](index=4&type=section&id=3.1%20Consolidated%20Statements%20of%20Income) Net sales increased to $126.3 million, gross profit rose to $45.1 million, but net income decreased to $1.5 million, resulting in diluted EPS of $0.04 Consolidated Statements of Income Highlights (Three months ended March 31) | Metric (in thousands) | 2024 | 2023 | YoY Change | | :------------------------------------------ | :----- | :----- | :--------- | | Net sales | $126,332 | $112,563 | +12.2% | | Cost of sales | $81,200 | $77,670 | +4.5% | | Gross profit | $45,132 | $34,893 | +29.3% | | Selling and administrative expenses | $34,908 | $27,193 | +28.4% | | Income from operations | $7,686 | $5,461 | +40.7% | | Net income attributable to CECO Environmental Corp. | $1,508 | $1,978 | -23.8% | | Diluted EPS | $0.04 | $0.06 | -33.3% | [Consolidated Balance Sheets](index=3&type=section&id=3.2%20Consolidated%20Balance%20Sheets) Total assets decreased to $589.0 million, total liabilities to $352.9 million, and shareholders' equity to $236.2 million as of March 31, 2024 Consolidated Balance Sheets Highlights (as of) | Metric (in thousands) | March 31, 2024 | December 31, 2023 | Change | | :-------------------------------- | :------------- | :---------------- | :----- | | Cash and cash equivalents | $46,557 | $54,779 | $(8,222) | | Total current assets | $271,609 | $281,437 | $(9,828) | | Total assets | $589,020 | $600,291 | $(11,271) | | Total current liabilities | $196,310 | $203,106 | $(6,796) | | Total liabilities | $352,868 | $362,800 | $(9,932) | | Total shareholders' equity | $236,152 | $237,491 | $(1,339) | [Consolidated Statements of Cash Flows](index=5&type=section&id=3.3%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly improved to $1.2 million, while investing cash outflow decreased, and financing cash flow shifted to a $(6.5) million outflow Consolidated Statements of Cash Flows Highlights (Three months ended March 31) | Metric (in thousands) | 2024 | 2023 | Change | | :-------------------------------------------------- | :----- | :------- | :------- | | Net cash provided by (used in) operating activities | $1,224 | $(12,021) | +$13,245 | | Net cash used in investing activities | $(2,694) | $(26,655) | +$23,961 | | Net cash (used in) provided by financing activities | $(6,528) | $34,359 | $(40,887) | | Net decrease in cash, cash equivalents and restricted cash | $(8,420) | $(4,381) | $(4,039) | | Cash, cash equivalents and restricted cash at end of period | $47,028 | $42,204 | +$4,824 | [Non-GAAP Financial Measures](index=6&type=section&id=Non-GAAP%20Financial%20Measures) [Reconciliation of GAAP to Non-GAAP Measures](index=6&type=section&id=4.1%20Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Non-GAAP net income increased to $4.0 million, Adjusted EBITDA rose to $13.2 million, and free cash flow significantly improved to $(1.9) million in Q1 2024 Non-GAAP Net Income and Adjusted EBITDA (Three months ended March 31) | Metric (in millions) | 2024 | 2023 | Change | | :------------------- | :--- | :--- | :----- | | Net income (GAAP) | $1.5 | $2.0 | $(0.5) | | Non-GAAP net income | $4.0 | $3.6 | $0.4 | | Non-GAAP diluted EPS | $0.11 | $0.10 | $0.01 | | Adjusted EBITDA | $13.2 | $9.7 | $3.5 | Non-GAAP Operating Income and Margin (Three months ended March 31) | Metric (in millions, except ratios) | 2024 | 2023 | Change | | :---------------------------------- | :--- | :--- | :----- | | Operating income (GAAP) | $7.7 | $5.5 | $2.2 | | Operating margin (GAAP) | 6.1% | 4.9% | +1.2 pp | | Non-GAAP operating income | $10.2 | $7.7 | $2.5 | | Non-GAAP operating margin | 8.1% | 6.8% | +1.3 pp | Free Cash Flow Reconciliation (Three months ended March 31) | Metric (in millions) | 2024 | 2023 | Change | | :---------------------------------------- | :--- | :---- | :----- | | Net cash provided by operating activities | $1.2 | $(12.0) | +$13.2 | | Acquisitions of property and equipment | $(3.1) | $(2.5) | $(0.6) | | Free cash flow | $(1.9) | $(14.5) | +$12.6 | [Note Regarding Non-GAAP Financial Measures](index=7&type=section&id=4.2%20Note%20Regarding%20Non-GAAP%20Financial%20Measures) Non-GAAP measures offer insight into core operations by excluding specific items, are supplemental to GAAP, have limitations, and forward-looking non-GAAP measures are not reconciled due to unpredictability - Non-GAAP financial measures are provided to help individuals better assess the ongoing nature of CECO's core operations by excluding amounts included in GAAP[21](index=21&type=chunk) - Adjustments to non-GAAP measures typically exclude amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses, acquisition and integration expenses, foreign currency remeasurement, and other nonrecurring or infrequent items[22](index=22&type=chunk) - Non-GAAP financial measures are supplemental to, and not a substitute for, GAAP measures, have limitations, and may not be comparable to similarly titled measures of other companies[28](index=28&type=chunk) - Forward-looking non-GAAP measures were not reconciled to comparable GAAP financial measures because the reconciliation could not be performed without unreasonable efforts due to the unpredictability of certain impacting items[29](index=29&type=chunk) [Forward-Looking Statements](index=8&type=section&id=Forward-Looking%20Statements) [Safe Harbor Statement](index=8&type=section&id=5.1%20Safe%20Harbor%20Statement) This safe harbor statement cautions that forward-looking statements, based on management's views, involve risks and uncertainties that may cause actual results to differ materially - Statements in the Press Release, other than historical fact, are forward-looking statements based on management's views and assumptions regarding future events and business performance[24](index=24&type=chunk) - Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially, including factors such as economic conditions, dependence on fixed-price contracts, supply chain challenges, litigation, fluctuations in raw material prices, inflationary pressures, debt, government regulations, and catastrophic events[24](index=24&type=chunk) - Investors are cautioned not to place undue reliance on such forward-looking statements, and the company undertakes no obligation to update or review them, except as required under federal securities laws[24](index=24&type=chunk)

DALLAS, April 16, 2024 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (NASDAQ:CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced that it will report its first quarter 2024 financial results on April 30, 2024, premarket. The Company will also host its earnings call starting at 8:30 a.m. Eastern Time (7:30 a.m. CT). The Company's financial results and presentation will be posted on its website at www. ...

Topline growth balanced across Air-Water-Energy Strong Backlog Conversion Delivering Double-Digit Y/Y & TTM Growth 11 Q4'23 Backlog* Remains at Record Levels $203 $210 $219 $214 $283 $289 $278 $312 $356 $391 $394$371 $92 $86 $93 $91 $161 $114 $102 $151 $146 $163 $146 $128 $72 $79 $80 $94 $92 $105 $108 $116 $113 $129 $149 $154 $211 $290 $378 Company Record Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Backlog Orders Revenue 2021 2022 2023 1.1x 1.2x 1.1x B2B •Up 19% YoY, ~70%+ conver ...

CECO Environmental Corp. (NASDAQ:CECO) Q4 2023 Earnings Conference Call March 5, 2024 8:30 AM ET Company Participants Steven Hooser - IR Todd Gleason - President & CEO Peter Johansson - Chief Financial & Strategy Officer Conference Call Participants Rob Brown - Lake Street Capital Markets Aaron Spychalla - Craig-Hallum Bobby Brooks - Northland Capital Markets Jim Ricchiuti - Needham and Company Bill Dezellem - Tieton Capital Management Amit Dayal - H.C. Wainwright Operator Good morning, and welcome to the C ...