---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-019122"
form_type: "8-K"
ticker: "CECO"
cik: "0000003197"
company_name: "CECO ENVIRONMENTAL CORP"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:38:34.910112+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CECO Q1 revenue up 22% to $112.6M; record backlog $356.1M; raises FY2023 outlook

## Summary
- Orders $146.1M, record backlog $356.1M (+26%), Q1 revenue $112.6M (+22%).
- GAAP net income $2.0M ($0.06 diluted EPS); non-GAAP net income $3.6M ($0.10 diluted EPS).
- Adjusted EBITDA $9.7M (+$0.2M); free cash flow -$14.5M.
- Raises FY2023 revenue guidance to exceed $485M (from $460-485M), adj. EBITDA to exceed $50M (from $45-50M).
- Record backlog driven by six acquisitions in past 12 months and strong commercial pipeline.

## SEC filing metadata
- accession: 0000950170-23-019122
- form_type: 8-K
- ticker: CECO
- cik: 0000003197
- company_name: CECO ENVIRONMENTAL CORP
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/3197/000095017023019122/0000950170-23-019122-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/3197/000095017023019122/ceco-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-019122
- JSON: https://secwatch.observer/filing/0000950170-23-019122.json
- Plain text: https://secwatch.observer/filing/0000950170-23-019122.txt

## Key facts
- Earnings Releases
  CECO ENVIRONMENTAL CORP reported the first quarter ended March 31, 2023 results: revenue $112.6 million, net income $2.0 million, EPS $0.06. Guidance raised.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $112.6 million
  - Net income: $2.0 million
  - EPS: $0.06
  - Guidance: raised
  - Result: reported results
  source text: Orders of $146.1 million, compared with $160.9 million; Record backlog of $356.1 million, up 26 percent; Record first quarter revenue of $112.6 million, up 22 percent; Net income of $2.0 million, compared with $2.8 million; non-GAAP net income of $3.6 million, compared to $5.0 million • GAAP EPS (diluted) of $0.06, compared with $0.08; non-GAAP EPS (diluted) of $0.10, compared to $0.14 • Adjusted EBITDA of $9.7 million, compared with $9.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/3197/000095017023019122/0000950170-23-019122-index.htm
- Earnings Releases
  CECO ENVIRONMENTAL CORP updated its full year 2023 guidance (raised).
  - Period: full year 2023
  - Guidance: raised
  - Result: guidance update
  source text: Company Raises Full Year 2023 Outlook The Company updated its expected full year 2023 guidance to reflect revenue to exceed $485 million, up at least 15 percent year over year, from a previous range of $460 to $485 million. The Company also updated its expected full year 2023 adjusted EBITDA to exceed $50 million, up more than 18 percent year over year, from a previous range of $45 to $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/3197/000095017023019122/0000950170-23-019122-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.