Core Viewpoint - CECO Environmental Corp. reported record financial results for Q2 2025, driven by a 95% increase in orders year-over-year and a significant rise in backlog and revenue, indicating strong demand in environmental solutions markets [4][6][8]. Financial Performance - Orders reached $274.1 million, up 95% compared to the same quarter last year [8]. - Backlog increased to $688 million, reflecting a 76% year-over-year growth [4][8]. - Revenue for the quarter was $185.4 million, a 35% increase from Q2 2024 [8]. - Operating income was $18.1 million, up from $9.3 million in the prior year [4][8]. - Non-GAAP operating income was $18.3 million, representing a 45% increase from $12.6 million in Q2 2024 [4][8]. - Net income for the quarter was $9.5 million, compared to $4.5 million in Q2 2024 [4][8]. - Adjusted EBITDA was $23.3 million, up 45% from $16.1 million in the same quarter last year [4][8]. Guidance and Outlook - The company raised its full-year revenue outlook to between $725 million and $775 million, a 35% increase at the midpoint compared to previous guidance [6][7]. - Adjusted EBITDA is expected to remain between $90 million and $100 million for the full year [6]. - The sales pipeline is robust at $5.5 billion, supporting strong demand across various sectors including power generation and water infrastructure [7]. Market Position and Strategy - CECO's diverse portfolio in environmental solutions is gaining traction in key markets and new geographies [4]. - The company is focused on capitalizing on mega-theme opportunities in energy transition and infrastructure projects [4][5]. - The highest-ever gross margins and expanded income margins were achieved while maintaining investments in growth and efficiency [5].