other material
confidence high
sentiment positive
materiality 0.80
CECO Environmental raises 2023 outlook, completes acquisition of Kemco Systems
CECO ENVIRONMENTAL CORP
- Acquired Kemco Systems (closed Aug 23, 2023); Kemco had ~$22M revenue in 2022.
- FY 2023 revenue guidance raised to at least $525M (up ~24% YoY); prior guidance $500-525M.
- Adjusted EBITDA guidance raised to at least $55M (up ~30% YoY); prior guidance $50-55M.
- Kemco is third acquisition in 2023, adding water recycling and energy conservation solutions.
- Kemco leadership remains; CECO plans global rollout of water recycling offerings.