CECO Q2 revenue +34% to $105.4M, adj. EBITDA +63%; raises FY22 guidance, CFO departs

CECO ENVIRONMENTAL CORP

2022-Q2 EPS reported $0.20 revenue$197,811,000

Q2 revenue $105.4M (+34% YoY); net income $4.4M vs $0.3M; adjusted EBITDA $10.6M (+63%).
Record backlog $289M; orders $113.5M (+33%); FY22 guidance raised to $375-400M revenue, adj. EBITDA $37-40M+.
Acquired Compass Water Solutions and Western Air Duct; combined 2021 sales ~$15M, double-digit EBITDA margins.
Senior mgmt changes: CFO/EVP HR depart; Peter Johansson to join as CFO/Strategy Officer Aug 15; Lynn Watkins-Asiyanbi elevated to Chief Admin/Legal Officer.

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