Welcome to our dedicated page for Ceco Environmental news (Ticker: CECO), a resource for investors and traders seeking the latest updates and insights on Ceco Environmental stock.
CECO Environmental Corp. reports developments for an environmentally focused industrial company serving industrial air, industrial water and energy-transition markets. The company operates through Engineered Systems and Industrial Process Solutions, with products and configured systems such as dampers and diverters, selective catalytic reduction systems, cyclones, dust collectors, thermal oxidizers, filtration systems, scrubbers, water treatment packages and industrial silencers.
Recurring CECO news includes operating and financial results, management conference appearances, shareholder voting matters, governance updates, capital-structure disclosures and material agreements. Company updates also reference end markets including power generation, petrochemical processing, refining, midstream gas transport and treatment, electric vehicle and battery production, metals and mineral processing, polysilicon production, battery recycling, beverage can production, and produced or oily water and wastewater treatment.
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CECO Environmental Corp. (Nasdaq: CECO) will report its first quarter 2023 financial results on May 9, 2023, before the market opens. The earnings call will commence at 8:30 a.m. Eastern Time. Investors can access the results on the company's website and participate in the call via webcast or phone. CECO is focused on providing environmentally-friendly industrial solutions, improving air and water quality, and enhancing energy efficiency across various sectors, including power generation and semiconductor production. The company continues to position itself in growing markets, which may have implications for its revenue and future growth.
CECO Environmental Corp. (Nasdaq: CECO) has successfully acquired Transcend Solutions, LLC, a Houston-based company specializing in process filtration solutions. This acquisition enhances CECO's capabilities within its Separation and Filtration business, allowing for improved process fluid separation and filtration across various high-performance applications. Following a pattern of growth, this transaction marks CECO's second acquisition of 2023, highlighting its ongoing M&A strategy initiated in early 2022. CECO anticipates that Transcend could potentially double its revenue within three years by leveraging CECO's global customer network.
CECO Environmental Corp. (Nasdaq: CECO) reported robust financial results for Q4 and the full year 2022, demonstrating significant growth across key metrics. Orders surged to $150.5 million, up 66%, while revenue reached $116.4 million, a 24% increase. Full-year net income climbed to $17.4 million, up from $1.4 million in 2021. The company raised its 2023 outlook, projecting adjusted EBITDA between $45 and $50 million and revenue between $460 and $485 million. Additionally, CECO maintained a record backlog of $311.7 million, indicating a strong sales pipeline moving forward. CEO Todd Gleason expressed confidence in continuing this growth trajectory.