CECO reports record Q1 revenue $126.3M, Adj. EBITDA $13.2M up 36%, reaffirms FY24 guidance

CECO ENVIRONMENTAL CORP

2024-Q1 EPS reported $0.04 revenue$750,000,000

Record Q1 revenue $126.3M (+12% YoY); GAAP EPS $0.04, non-GAAP EPS $0.11.
Adjusted EBITDA $13.2M (margin 10.5%), up 36% YoY; GAAP net income $1.5M down 25%.
Backlog $389.5M (+9%), orders $145.3M; book-to-bill 1.2 near record levels.
FY24 guidance reaffirmed: revenue $590-610M, Adj. EBITDA $67-70M, FCF 50-70% of EBITDA.
Free cash flow $(1.9)M vs $(14.5)M YoY; repurchased $3M of stock in quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CECO ENVIRONMENTAL CORP reported first quarter ended March 31, 2024 results: revenue $126.3 million, net income $1.5 million, EPS $0.04. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $126.3 million
Net income: $1.5 million
EPS: $0.04
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reported its financial results for the first quarter results of 2024. First Quarter Summary (1) • Orders of $145.3 million • Backlog of $389.5 million, up 9 percent • Revenue of $126.3 million, up 12 percent • Net income of $1.5 million, down 25 percent; non-GAAP net income of $4.0 million, up 11 percent • GAAP EPS (diluted) of $0.04; non-GAAP EPS (diluted) of $0.11 •

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Source: SEC EDGAR

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