Financial Data and Key Metrics Changes - CECO Environmental reported record bookings of approximately $228 million, up 57% year-over-year, with a sales pipeline exceeding $5 billion for the first time [7][8][12] - Revenue for Q1 2025 was $177 million, representing a 40% increase year-over-year, with adjusted EBITDA at $14 million, slightly above expectations [12][39] - The company exited the quarter with a backlog of $602 million, up 55% year-over-year, marking the first time the backlog exceeded $600 million [11][37] Business Line Data and Key Metrics Changes - The recent acquisitions contributed approximately 28% of the revenue growth, while organic growth was driven by project execution against the record backlog [12][39] - The company divested its Global Pump Solutions business, which contributed about $10 million to revenue in the quarter [39][34] Market Data and Key Metrics Changes - CECO's sales pipeline has grown significantly, with nearly a dozen opportunities each valued over $50 million, indicating strong future potential [8][12] - The company noted continued strength in various sectors, including gas infrastructure and nuclear, despite not booking large orders in the power generation market [71][76] Company Strategy and Development Direction - CECO is maintaining its full-year 2025 guidance, focusing on price and productivity measures to offset tariff impacts [10][33] - The company is committed to expanding its portfolio with a focus on reshoring, power generation, and water infrastructure, aligning with macroeconomic trends [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience amid market uncertainties, emphasizing the importance of geographic and vertical market positioning [17][20] - The company remains optimistic about future order bookings in the power sector, anticipating significant contract awards in the coming quarters [56][57] Other Important Information - CECO's gross profit margin for Q1 2025 was approximately 35.2%, consistent with recent quarters, attributed to operational excellence and improved project execution [43][42] - The company is focused on IT infrastructure investments, particularly in a unified ERP system, while maintaining a capital-light approach [85][86] Q&A Session Summary Question: How does the power-related pipeline look at this point? - Management indicated a strong pipeline exceeding $1 billion, with various solutions including emissions and gas infrastructure, and expects large contract awards in the power sector soon [56][57] Question: How does the company handle cost changes and tariff impacts after booking a contract? - Most contracts allow for pass-through of tariff-related increases, and the company is actively working with suppliers to manage costs and maintain visibility [59][60] Question: Can you discuss the mix of the $228 million in orders? - The orders were balanced across various platforms, with notable strength in gas infrastructure and nuclear projects, despite no large orders from the power sector [70][71] Question: What areas of investment are planned for the rest of 2025? - The primary investment focus is on IT infrastructure, specifically a unified ERP system, with modest capital expenditures expected for traditional equipment [85][86] Question: What impact might defense spending have on the business? - While not a direct defense contractor, CECO expects indirect benefits from increased factory construction and power infrastructure investments in response to geopolitical situations [87][89]

Core Insights - Montrose Environmental Group, Inc. is focused on protecting air, water, and soil while enhancing environmental stewardship and economic development [1] Group 1: Financial Results Announcement - Montrose plans to release its first quarter 2025 results on May 7, 2025, after the close of trading on the New York Stock Exchange [2] - A conference call to discuss the first quarter 2025 results and forward outlook is scheduled for May 8, 2025, at 8:30 a.m. Eastern Time [2] Group 2: Conference Call Details - A live webcast of the conference call will be available on the Investors section of the Montrose website [3] - Participants can join the call by dialing 1-844-826-3035 in the U.S. or 1-412-317-5195 internationally [3] Group 3: Company Overview - Montrose is a leading environmental solutions company with approximately 3,400 employees across 120 locations worldwide [5] - The company offers a range of services including air measurement, regulatory compliance, environmental emergency response, and remediation [5]

Core Insights - Montrose Environmental Group has been recognized with four awards at the E+E Leader Product & Project Awards, highlighting its commitment to environmental protection and sustainability [1][2][3] Company Overview - Montrose Environmental Group is focused on providing environmental solutions to both commercial and government organizations, with approximately 3,400 employees across over 100 locations worldwide [6] - The company emphasizes an integrated approach to design, engineering, and operations, allowing it to effectively address the unique requirements of each project [6] Awards and Recognition - The E+E Leader Product & Project Awards recognize excellence in products and services that enhance energy and environmental benefits, as well as projects that improve environmental outcomes [1][5] - The awards are evaluated by a panel of independent judges from more than 20 companies, ensuring a rigorous assessment of the entries [3][5] Industry Context - The sustainability and energy landscape is rapidly evolving, presenting challenges for professionals in selecting effective solutions [2] - The E+E Leader Awards serve as a benchmark for innovation and impact in the industry, showcasing scalable solutions to pressing sustainability and energy challenges [3][2]

Core Viewpoint - CECO Environmental Corp. has successfully completed the divestiture of its Fluid Handling business, known as Global Pump Solutions (GPS), to May River Capital for an enterprise value of approximately $110 million, effective March 31, 2025 [1][2][4]. Group 1: Transaction Details - The transaction was executed for a cash payment of approximately $110 million at closing [2]. - Proceeds from the divestiture will be utilized to pay down debt and fund future strategic growth investments [2]. Group 2: Business Overview - The GPS business includes three niche brands: Dean, Fybroc, and Sethco, specializing in severe service industrial pumps [3]. - GPS operates from locations in Indianapolis, Indiana, and Telford, Pennsylvania, serving over 1,500 customers globally [3]. Group 3: Strategic Implications - The divestiture allows CECO to better align its portfolio with high growth opportunities in energy and industrial markets [4]. - The sale follows recent acquisitions of Verantis Environmental and Profire Energy, creating additional capacity for further investments in CECO's growth and business expansion [4]. Group 4: Company Background - CECO Environmental is a diversified industrial company focused on environmentally friendly solutions across industrial air, water, and energy transition markets [5]. - The company provides innovative technology and application expertise to improve air quality and optimize the energy value chain [5]. Group 5: Buyer Information - May River Capital is a private equity firm based in Chicago, focusing on lower middle-market industrial growth businesses [6]. - The firm invests in advanced manufacturing, engineered products, specialized industrial services, and value-added industrial distribution services [6].

Core Insights - Montrose Environmental Group, Inc. is committed to protecting air, water, and soil, and will participate in the Evercore 17th Annual Industrial Conference on March 4, 2025 [1] Company Overview - Montrose is a leading environmental solutions company that supports commercial and government organizations in addressing current challenges and preparing for future needs [2] - The company employs approximately 3,410 individuals across 120 locations globally, combining local expertise with an integrated approach to project management [2] - Montrose offers a wide range of services including air measurement, laboratory services, regulatory compliance, environmental emergency response, permitting, engineering, and remediation [2] - The company focuses on delivering innovative and practical solutions to meet immediate client needs and maintain a strategic advantage [2]