CECO misses 2024 revenue/EBITDA guidance; Q4 bookings record, Verantis closed, Fluid Handling divestiture planned

CECO ENVIRONMENTAL CORP

2024-FY EPS reported $0.36 revenue$750,000,000

Preliminary 2024 revenue $555-$558M (prior guidance $575-$600M); Adjusted EBITDA $62-$63M (prior $65-$70M).
Q4 2024 bookings at or above $210M, setting new record; backlog at highest-ever level.
Completed acquisition of Verantis in late Dec 2024; annualized sales ~$45M, accretive margins.
Announced intent to divest Fluid Handling business expected late Q1 2025; proceeds to pay down debt.
2025 full year outlook reaffirmed: revenue $700-$750M (up ~30% YoY), Adjusted EBITDA $90-$100M (up ~50% YoY).

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