Ceco Environmental raises FY26 revenue view to $940M-$1B from $925M-$975M

Consensus $947.8M. Raises FY26 adjusted EBITDA view to $120M-$140M from $115M-$135M. “Given another strong start to the year with our record backlog and accelerating orders pace, we are raising our full year 2026 outlook. We now expect organic revenues to grow 25 percent, and adjusted EBITDA to grow almost 45 percent. Separately, the acquisition of Thermon remains very much on track for a second quarter close. Just a few weeks ago, Thermon issued a press release highlighting exciting orders with their liquid load bank solution, which is a new product for data center markets. The combination of CECO and Thermon will yield a double-digit growth company with attractive margins and operating cash flows. We remain confident the combination will also unlock at least $40 million in cost synergies and meaningful commercial opportunities. I look forward to sharing more updates and a combined company financial outlook soon,” concluded Gleason.