CECO Environmental ( TXSE:CECO – Get Free Report ) announced its quarterly earnings results on Monday. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01), Zacks reports. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%. During the same period in the prior year, the company posted $0.04 EPS.
Here are the key takeaways from CECO Environmental’s conference call:
Get CECO Environmental alerts:
CECO reported record third-quarter results : revenue rose 105% year over year to about $404 million, adjusted EBITDA increased 201% to $70.1 million, and the adjusted EBITDA margin reached 17.3%. Legacy CECO revenue grew 30% and adjusted EBITDA rose 64%.
Orders reached $778 million, with a book-to-bill ratio of about 1.92, lifting backlog to a record $2.193 billion; the opportunity pipeline exceeded $9 billion. Management expects at least 70% of year-end backlog to convert to revenue in 2027.
The company raised its 2026 orders outlook to at least $2.5 billion and its adjusted free-cash-flow outlook to about 100% of adjusted EBITDA, while maintaining revenue guidance of $1.3–$1.375 bi...