Ceco Environmental raises FY26 revenue view to $925M-$975M, consensus $878.83M

The company raises its 2026 full year outlook to reflect revenue between $925 and $975 million, up approximately 25 percent at the midpoint of the range, and Adjusted EBITDA between $115 and $135 million, up approximately 40 percent at the midpoint of the range. The updated outlook compares with the previous guidance of revenues between $850 and $950 million, and Adjusted EBITDA between $110 and $130 million. The Company reiterates its full year free cash flow of at least 50% of Adjusted EBITDA. The current update to the Company’s 2026 outlook excludes the impact of the proposed merger transaction with Thermon. “We entered 2026 with a record sales pipeline, our largest ever backlog and tremendous bookings momentum. We expect our largest markets will remain strong and we have confidence in our proven operating model that we will execute at a high level. With these inputs, we are increasing our full year outlook – which does not include the positive financial impact of our recently announced proposed merger transaction with Thermon, which we expect will close mid-2026. I want to continue to thank our dedicated employees and partners as we deliver for our global customers while we protect people, the environment and industrial equipment,” concluded CEO Gleason.