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

Issuer:     CECO ENVIRONMENTAL CORP (CECO)
CIK:        0000003197
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0000950170-24-087502
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CECO Q2 revenue $137.5M (+6% YoY); EPS $0.12; raises FY24 guidance; acquires EnviroCare
--------------------------------------------------------------------------------

- Record Q2 revenue of $137.5M, gross margin 35.6% (+480 bps YoY), adjusted EBITDA $16.1M (+18%).
- GAAP diluted EPS $0.12; non-GAAP diluted EPS $0.20 (+33% YoY).
- Completed acquisition of EnviroCare International (ECI); expects ~$13M sales in 2024 with mid-teen EBITDA margins.
- Raised FY24 revenue guidance to $600-620M (prev $590-610M) and adjusted EBITDA to $68-72M (prev $67-70M).
- Free cash flow $2.6M in Q2 vs $10M prior year; maintains FY FCF outlook of 50-70% of adj. EBITDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3197/000095017024087502/0000950170-24-087502-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3197/000095017024087502/ceco-20240730.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-087502

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