CECO Q2 revenue up 23% to $129.2M, record orders $162.9M, raises FY23 guidance

CECO ENVIRONMENTAL CORP

2023-Q2 EPS reported $0.16 revenue$241,744,000

Record Q2 orders of $162.9M (+44% YoY); backlog $391.0M (+35%); book-to-bill 1.26.
Revenue $129.2M (+23%), gross margin expanded 70bps to 30.8%; adjusted EBITDA $13.7M (+29%).
GAAP EPS $0.11 vs $0.13; Non-GAAP EPS $0.15 vs $0.18; net income $3.7M vs $4.4M.
Raised FY23 guidance: revenue $500-525M (prev. >$485M), adj. EBITDA $50-55M (prev. >$50M).
Free cash flow $10.0M vs $19.1M; organic growth 16%, acquisitions contributed 7%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CECO ENVIRONMENTAL CORP reported full year 2023 results: revenue $500 and $525 million. Guidance raised.

Period: full year 2023
Revenue: $500 and $525 million
Guidance: raised
Result: guidance update

Exact text from the filing

The Company increased its expected full year 2023 guidance to reflect revenues forecasted to be between $500 and $525 million, up at least 21 percent, at the mid-point, year over year.

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Source: SEC EDGAR

accession 0000950170-23-039340

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