secwatch.observer — SEC 8-K summary
======================================

Issuer:     CECO ENVIRONMENTAL CORP (CECO)
CIK:        0000003197
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000950170-23-059752
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CECO reports record Q3 revenue $149.4M, up 38%; raises FY2023 guidance; introduces FY2024 outlook
--------------------------------------------------------------------------------

- Revenue $149.4M (+38% YoY), net income $3.3M (+74%), adjusted EBITDA $15.1M (+64%), record backlog $394.0M (+42%).
- GAAP EPS $0.09; non-GAAP EPS $0.22; free cash flow $28.5M vs $0.1M prior year.
- Raises FY2023 revenue guidance to $525-550M and adj. EBITDA to $55-57M (from >$525M and >$55M).
- Introduces FY2024 guidance: revenue $575-600M, adj. EBITDA $65-70M, FCF 50-70% of adj. EBITDA.
- Completed acquisition of Kemco Systems in Q3; orders up 43% to $145.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3197/000095017023059752/0000950170-23-059752-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3197/000095017023059752/ceco-20231107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-059752

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer