secwatch.observer — SEC 8-K summary
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Issuer:     CECO ENVIRONMENTAL CORP (CECO)
CIK:        0000003197
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0000950170-24-117926
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CECO Q3 revenue misses on project delays; guides FY24 lower; announces $125M Profire acquisition
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- Q3 revenue $135.5M (-9% YoY); GAAP EPS $0.06; non-GAAP EPS $0.14 (-36% YoY); net income $2.1M.
- Orders rose 12% to $162.3M; backlog record $437.5M; adjusted EBITDA $14.3M (-5%).
- Completed WK acquisition in early Oct (~$15M rev, high-teen EBITDA margins); announced $125M Profire acquisition (PFIE, ~$60M rev, ~20% EBITDA), close Jan 2025.
- Updated FY2024 guidance: rev $575-600M (prev $600-620M), adj. EBITDA $65-70M (prev $68-72M).
- Introduced FY2025 guidance: rev $700-750M, adj. EBITDA $90-100M, up ~40% at midpoint.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3197/000095017024117926/0000950170-24-117926-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3197/000095017024117926/ceco-20241029.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-117926

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