secwatch.observer — SEC 8-K summary
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Issuer:     CECO ENVIRONMENTAL CORP (CECO)
CIK:        0000003197
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000950170-23-019122
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3197/000095017023019122/0000950170-23-019122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3197/000095017023019122/ceco-20230509.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-019122

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