Ceco Environmental (CECO)
NASDAQ:CECO
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Earnings Data
Report Date
Aug 11, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.32Last Year’s EPS
0.24Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and bookings narrative: record orders, record backlog, broadened sales pipeline (> $7B), sizable April orders including a ~$300M mega‑order, double‑digit revenue growth (17% YoY) and material adjusted EBITDA expansion (46% YoY in Q1; TTM margin expansion). Management raised full‑year standalone guidance and remains confident in the Thermon acquisition and $40M of cost synergies, while noting expected margin recovery later in the year. Key negatives are near‑term margin compression from prior divestiture and project timing, seasonal Q1 cash consumption (exacerbated by a delayed ~$20M payment), modestly higher debt/leverage, and some Middle East timing risk. Overall, the positive operational momentum, record backlog and raised guidance outweigh the near‑term cash and margin headwinds.Company Guidance
Record Orders and Backlog
Orders of $449 million in Q1 2026, a company record and a 97% increase year‑over‑year. Backlog reached a record $1.035 billion, up ~72% YoY and up $242 million sequentially (31%). Book-to-bill in the quarter was ~2.2x and trailing 12-month bookings were $1.286 billion (up 71% YoY).
Revenue Growth and Record Trailing 12‑Month Revenue
First quarter revenue of $206 million, up 17% year‑over‑year despite the sale of Global Pump Solutions (which reduced comparable prior‑year revenue by $14 million). Trailing 12‑month revenue was a record $804 million, up 32% YoY.
Adjusted EBITDA Acceleration
Adjusted EBITDA for Q1 was $20.4 million, up 46% YoY, representing approx. 10% EBITDA margin for the quarter. Trailing 12‑month adjusted EBITDA reached $96.7 million with a 12% margin (up ~160 bps YoY), and management expects to cross $100 million TTM adjusted EBITDA soon.
Very Large Sales Pipeline and April Momentum
Sales pipeline has grown to over $7 billion (management cited ~ $7.3B). April bookings alone exceeded $400 million and included the company's largest-ever order in the ~$300 million range, indicating continued momentum into Q2.
Raised Full‑Year Guidance
Standalone 2026 revenue guidance raised to $940 million–$1.0 billion (first time company may reach $1 billion in sales). Midpoint implies ~25% organic sales growth. Adjusted EBITDA guidance increased to $120 million–$140 million (midpoint ~44% EBITDA growth); management cites ~170 bps of expected margin expansion for the year.
Thermon Acquisition Progress and Synergy Outlook
Thermon transaction on track to close in early June (Q2). Management remains confident in previously outlined $40 million cost synergy target and is evaluating additional commercial synergies; combined run‑rate sales expected to be ~ $1.5 billion, with management aiming for Rule of 30/40 type performance over time.
SG&A Reduction and Operational Improvements (80/20)
SG&A decreased 14% YoY (down ~$7.5 million), an ~800 bps improvement as a percentage of revenue. Early Wave 1 of 80/20 implementation delivered initial benefits (primarily G&A) and is being scaled, with management expecting broader margin benefits as deployment expands.
Balance Sheet Capacity and Credit Amendment
Amended credit agreement increases committed capacity to $975 million ($740 million revolver + $235 million delayed draw term loan). Q1 gross debt $252 million (up ~$43 million from year‑end 2025) and management reports ~$723 million in capacity available to fund the Thermon cash consideration and growth needs.
CECO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CECO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $64.92 | $74.29 | +14.43% |
Feb 24, 2026 | $77.68 | $60.00 | -22.76% |
Oct 28, 2025 | $53.35 | $48.50 | -9.10% |
Jul 29, 2025 | $34.71 | $40.35 | +16.25% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ceco Environmental (CECO) report earnings?
Ceco Environmental (CECO) is schdueled to report earning on Aug 11, 2026, Before Open (Confirmed).
What is Ceco Environmental (CECO) earnings time?
Ceco Environmental (CECO) earnings time is at Aug 11, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CECO EPS forecast?
CECO EPS forecast for the fiscal quarter 2026 (Q2) is 0.32.