CECO Q1 orders up 57% to $228M; backlog record $602M; maintains FY25 outlook

CECO ENVIRONMENTAL CORP

2025-Q1 EPS reported $0.98 revenue$750,000,000

Orders of $227.9M, up 57% YoY; backlog $602.0M, up 55%.
Revenue $176.7M (+40%); GAAP net income $36.0M ($0.98 EPS) incl. $64.5M gain on sale.
Non-GAAP EPS $0.10; Adj. EBITDA $14.0M (+6%); free cash flow -$15.1M vs -$1.9M prior year.
FY25 guidance maintained: revenue $700-750M, Adj. EBITDA $90-100M.

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