CECO Q3 revenue up 36% to $108.4M; raises 2022 EBITDA guidance to >$39M

CECO ENVIRONMENTAL CORP

2022-Q3 EPS reported $0.26 revenue$306,225,000

Net income of $1.9M vs loss of $1.2M YoY; GAAP EPS $0.06; non-GAAP EPS $0.20.
Adjusted EBITDA $9.2M, up 156% YoY; backlog $277.7M, up 27%.
FY2022 guidance raised: revenue >$410M, adjusted EBITDA >$39M.
Introduced FY2023 revenue guidance $450-475M; adjusted EBITDA $45-48M.
Completed DS21 acquisition in water treatment; repurchased $2.2M shares in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CECO ENVIRONMENTAL CORP reported the third quarter of 2022 results: revenue $108.4 million, net income $1.9 million. Guidance raised.

Period: the third quarter of 2022
Revenue: $108.4 million
Net income: $1.9 million
Guidance: raised
Result: reported results

Exact text from the filing

CECO Environmental Corp. (Nasdaq: CECO) ("CECO") , a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the third quarter of 2022. Highlights for the Quarter (1) • Orders of $101.7 million, up 10 percent; Backlog of $277.7 million, up 27 percent • Revenue of $108.4 million, up 36 percent • Net income of $1.9 million, up $3.1 million; non-GAAP net income of $7.1 million, up $6.6 million • Adjusted EBITDA of $9.2 million, up 156 percent • Company increases full year financial outlook; Company introduces full year 2023 financial outlook

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Source: SEC EDGAR

accession 0000950170-22-022311

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