CECO reports record Q4 revenue $153.7M (+32% YoY); raises FY2024 guidance

CECO ENVIRONMENTAL CORP

Q4 revenue $153.7M (+32%), GAAP EPS $0.11, Non-GAAP EPS $0.28; Adjusted EBITDA $19.4M (+49%)
Full year 2023 revenue $544.8M (+29%), GAAP EPS $0.37, Non-GAAP EPS $0.75; backlog $370.9M (+19%)
Raises FY2024 guidance: revenue $590-610M (~10% YoY), Adj. EBITDA $67-70M (~19% YoY)
Q4 free cash flow $12.2M (+36%); FY free cash flow $36.2M (+33%)
Completed three acquisitions in 2023; portfolio shifted to industrial air, water, energy transition

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