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DALLAS, Sept. 1, 2020 /PRNewswire/ -- CECO Environmental Corp. (Nasdaq: CECE) announced that CEO Todd Gleason and CFO Matt Eckl will present at the 22nd Annual H.C. Wainwright Global Investment Conference on September 14, 2020, at 4:00 PM ET. The presentation will be accessible through the conference portal for registered attendees and via the investor relations section on the company's website. CECO Environmental specializes in air quality and fluid handling solutions across various sectors, aiming to enhance environmental protection.
CECO Environmental Corp. (Nasdaq: CECE) will present at the Virtual Midwest IDEAS Investor Conference on August 27, 2020. CEO Todd Gleason and CFO Matt Eckl will participate, discussing the company’s investment merits. Interested parties can access the presentation through the IDEAS conference portal or the investor relations section of CECO's website. The IDEAS Conferences provide a platform for companies to engage with investment professionals, focusing on regional investment communities. CECO Environmental specializes in air quality and fluid handling solutions for various sectors.
CECO Environmental Corp. (Nasdaq: CECE) reported its Q2 2020 results, revealing revenue of $75.2 million, a 7.4% decline from the prior year. Gross profit was $25.8 million, marking a 34.3% margin. Operating income improved to $4.4 million from $2.0 million. Net income was $3.3 million, down from $5.5 million, with a net income per share of $0.09. Bookings fell significantly to $60 million compared to $103 million in the previous year. The company has a backlog of $204.6 million. Adjusted EBITDA stood at $8.2 million, showing resilience amid market challenges.
CECO Environmental (NASDAQ: CECE) has partnered with Mader Machine Co. to establish a Joint Venture (JV) that integrates CECO's Effox-Flextor damper business with Mader's damper operations. CECO will retain 70% equity and manage financial reporting while securing two board seats. This alliance aims to enhance market offerings, reduce costs, and improve profitability amidst challenging market conditions. CECO's CFO emphasized the JV's leadership potential and synergies that will allow for growth and strategic focus in air quality solutions.
CECO Environmental (NASDAQ: CECE) has announced a joint venture with Mader Machine Co., combining CECO's Effox-Flextor damper business with Mader's expertise. CECO will hold 70% equity and maintain two board seats while receiving fees for administrative support. This partnership aims to enhance market offerings and cost efficiencies. According to leadership, the JV is expected to provide new expansion opportunities and improved profitability amid challenging market conditions.
CECO Environmental Corp. (Nasdaq: CECE) announced that CEO Todd Gleason and CFO Matt Eckl will present at the Jefferies Virtual Industrials Conference on August 6, 2020, at 9:45 AM ET. The presentation will be accessible via the company's Investor Relations website. CECO Environmental is a leader in air quality and fluid handling, serving energy and industrial markets globally. The company focuses on innovative solutions that enhance environmental safety and efficiency. For more details, visit www.cecoenviro.com.
CECO Environmental Corp. (Nasdaq: CECE) will release its second quarter results before the Nasdaq opens on August 5, 2020. The company will also host a conference call for investors at 8:30 a.m. EDT on the same day. Related materials will be available on the company's Investor Relations website prior to the call. Investors can listen to the call via webcast or by dialing the provided numbers for North America and international access. A replay will be accessible for 14 days after the event.
CECO Environmental Corp. (Nasdaq: CECE) announced inducement grants for its new CEO, Todd Gleason, as disclosed in its Form 8-K on July 6, 2020. The grants include a premium priced nonqualified stock option for 898,204 shares at $12.72 per share, a nonqualified stock option for 316,902 shares at $6.36 per share, and 94,340 restricted stock units. These awards, effective from Gleason's start date on July 6, 2020, were offered outside CECO's 2017 Equity and Incentive Compensation Plan to facilitate his employment acceptance.