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CECO Environmental Corp. (Nasdaq: CECO) has completed the acquisition of UK-based Wakefield Acoustics, Ltd., a leader in industrial noise control systems. This acquisition enhances CECO's Thermal Acoustics platform, introducing new solutions and expanding into additional geographic markets. With an expected revenue of over $10 million in 2023, the integration aims to bolster CECO's position in the industrial silencing sector. CECO CEO Todd Gleason highlighted the strategic growth potential in energy and green markets in Europe. Wakefield's experience in acoustics will support CECO's mission for sustainable growth.
CECO Environmental Corp. (NASDAQ: CECO) announced that it expects fourth-quarter 2022 orders to exceed $145 million, marking a 60% increase year-over-year and 42% sequential growth. This positions the company near record backlog levels. CEO Todd Gleason highlighted the strong growth in orders and ongoing market opportunities, emphasizing CECO's role in industrial air, water, and energy transition sectors. A full earnings report is expected in early March 2023.
CECO Environmental Corp. (Nasdaq: CECE) will change its ticker symbol to 'CECO' on November 7, 2022, marking a celebration of 25 years on Nasdaq. The decision, endorsed by CEO Todd Gleason, aims to enhance shareholder recognition and aligns with the company's environmentally focused mission. Shareholders need not take any action due to this change, as CECO's shares will continue to be listed on Nasdaq, with the CUSIP remaining unchanged. CECO specializes in solutions for air and water quality, energy efficiency, and emission management across various industrial sectors.
CECO Environmental Corp. (Nasdaq: CECE) announced it will report its third quarter 2022 financial results on November 7, 2022, prior to market opening. The company will host an earnings call at 8:30 a.m. ET to discuss the results. The financial report will be available on the company’s website, and a replay of the call will also be accessible afterward. CECO focuses on providing environmentally friendly solutions for industrial air, water, and energy markets, enhancing industrial efficiency and environmental safety.
Confluent Medical Technologies has appointed Matthew K. Eckl as Chief Financial Officer, effective October 17, 2022. Eckl brings over five years of experience as CFO at CECO Environmental (NASDAQ: CECE) and has held senior financial positions at Gardner Denver and GE. His role will involve overseeing global financial strategy and various operational teams. CEO Dean Schauer expressed confidence in Eckl's ability to drive Confluent's growth.
CECO Environmental Corp. (Nasdaq: CECE) has successfully acquired DS21 Co., Ltd., a South Korean firm specializing in water and wastewater treatment solutions. This acquisition is part of CECO's strategic M&A program and adds over $30 million in pro-forma annualized revenue. The integration enhances CECO's leadership in niche water treatment markets and provides an operational base in Asia for regional expansion. CECO plans to leverage DS21's expertise and customer relationships to drive growth in the energy and industrial markets.
CECO Environmental Corp. (Nasdaq: CECE) announced that CEO Todd Gleason will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 13, 2022, in New York. The company will also hold one-on-one investor meetings that day. Additionally, CECO will participate in the Lake Street 6th Annual Best IDEAS Growth Conference on September 14, 2022, with presentations accessible to registered participants through the conference portal and the company's website. CECO Environmental focuses on solutions for air, water, and energy transition markets globally.
CECO Environmental Corp. (Nasdaq: CECE) reported strong Q2 2022 financial results, with revenue rising 34% to $105.4 million and net income increasing to $4.4 million. Orders surged to $113.5 million, marking a 33% growth, contributing to a record backlog of $289 million. Adjusted EBITDA jumped 63% to $10.6 million. The company also completed the acquisitions of Compass Water Solutions and Western Air Duct, enhancing its market presence. CECO increased its full-year revenue outlook to $375-$400 million, up about 19% year-over-year, underscoring confidence in continued growth.
CECO Environmental Corp. (Nasdaq: CECE) announced significant leadership changes, effective August 15, 2022. CFO Matthew Eckl and Senior VP Pamela Turay will depart the company. Peter Johansson will join as Chief Financial and Strategy Officer, bringing over 30 years of experience from various industrial firms. Lynn Watkins-Asiyanbi, the current General Counsel, will assume the role of Chief Administrative and Legal Officer. CEO Todd Gleason highlighted these transitions aim to enhance operational effectiveness and align with CECO's strategic growth goals.