CECO Q4 record bookings $219M, revenue up 3%; reaffirms 2025 outlook $700-750M revenue

CECO ENVIRONMENTAL CORP

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

Q4: Revenue $158.6M (+3% YoY), gross margin 35.8% (+120 bps), net income $4.9M (+26%), GAAP EPS $0.13.
Record bookings $218.9M (+71%), backlog $540.9M (+46%).
Full year 2024: Revenue $557.9M (+2%), adj. EBITDA $62.8M (+9%), free cash flow $7.4M.
2025 guidance: Revenue $700-750M, Adj. EBITDA $90-100M, FCF 60-75% of adj. EBITDA.
Closed three acquisitions in 2024; Profire Energy in Jan 2025; expects sale of Fluid Handling in late Q1 2025.

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