Every 10-Q that Ceco Environmental Corp (CECO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CECO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CECO filings page.
CECO Environmental reported sharply higher scale but a GAAP loss for the quarter ended June 30, 2026, driven by the acquisition of Thermon Group Holdings and related costs. Net sales rose to $285.0 million, up from $185.4 million, including 44% organic growth, led by power generation and other industrial end markets.
Despite gross profit increasing to $86.5 million, CECO posted a quarterly net loss attributable to shareholders of $34.8 million, versus income of $9.5 million a year earlier, as results absorbed $45.5 million of acquisition and integration expense, $7.8 million of amortization, and a $9.5 million inventory fair value step-up charge. Non‑GAAP operating income improved to $32.1 million with an 11.3% margin. Thermon added $49.6 million of revenue but a $5.3 million net loss in its first month of consolidation. For the first half, revenue reached $490.9 million, but CECO recorded a $35.2 million net loss and $32.4 million net cash used in operations, while total debt climbed to $727.7 million to fund the roughly $2.26 billion Thermon transaction.
CECO Environmental reported first-quarter 2026 net sales of $205.9 million, up from $176.7 million a year earlier, driven by execution of large exhaust and emissions projects in Engineered Systems. Despite higher revenue, GAAP results swung to a small net loss of $0.4 million, versus $36.0 million profit last year, mainly because the prior period included a $64.5 million gain from selling the Global Pump Solutions business.
On an adjusted basis, non-GAAP operating income more than doubled to $17.9 million, and non-GAAP operating margin improved to 8.7% from 4.9%, helped by lower selling and administrative costs. Orders surged to $449.5 million, up 98%, pushing total backlog to $1.04 billion, largely tied to natural-gas power generation projects.
CECO ended the quarter with $45.4 million in cash and $253.2 million of total debt, mostly under its expanded $740 million revolving credit facility. The company also signed a Merger Agreement to acquire Thermon Group Holdings in a cash-and-stock deal, and has already incurred $8.7 million of related advisory and integration costs.
CECO Environmental reported higher quarterly revenue for the quarter ended September 30, 2025, with net sales of $197.6 million versus $135.5 million a year ago. Gross profit rose to $64.6 million, and income from operations reached $9.4 million. However, higher amortization and interest costs led to net income attributable to CECO of $1.5 million and diluted EPS of $0.04, down from $0.06 a year ago.
Year-to-date, net sales were $559.7 million versus $399.4 million, with income from operations of $89.3 million. Net income attributable to CECO increased to $47.0 million and diluted EPS to $1.29, reflecting a pre-tax gain of $63.7 million on the March divestiture of the Global Pump Solutions business. Operating cash flow was a $4.1 million use. Total assets were $891.9 million; debt totaled $220.9 million, including $216.3 million on the revolver, with $109.1 million of unused availability.
Profire contributed $17.4 million of Q3 revenue and $48.7 million year-to-date. Shares outstanding were 35,641,031 as of October 17, 2025.
CECO Environmental (CECO) reported strong Q2-25 results. Net sales rose 35% YoY to $185.4 million, driven by 32% growth in Engineered Systems and 42% in Industrial Process Solutions. Gross margin expanded 80 bp to 36.2%, lifting operating income to $18.1 million (vs. $9.3 million).
Bottom-line performance sharply improved. Net income attributable to CECO more than doubled to $9.5 million; diluted EPS increased to $0.26 from $0.12. For the first six months, EPS came in at $1.24 (vs. $0.17) helped by a $64.5 million pre-tax gain on the March sale of the Global Pump Solutions unit.
Balance sheet and liquidity. Total assets reached $876.6 million (+15% YTD) reflecting the $120 million cash purchase of Profire Energy on 3 Jan 25 and other 2024 acquisitions. Cash ended at $36.8 million while total debt rose to $238.7 million (net leverage ~2.0×). Shareholders’ equity increased 20% to $303.2 million.
Cash flow and credit. Operating cash flow used $19.4 million due to working-capital builds, although divestiture proceeds turned investing cash flow positive $3.8 million. The $400 million revolver had $104 million of availability at quarter-end.
Key strategic moves.
- Closed Profire acquisition, adding $31.3 million revenue and $3.6 million net income YTD.
- Recorded measurement-period adjustments for Verantis and WK Group; WK earn-out liability written down $7.4 million.
- Sale of Global Pump Solutions refocused portfolio on air-quality & emissions markets.
No forward guidance was provided in the filing.