CECO Environmental (NASDAQ:CECO) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

CECO Environmental (NASDAQ:CECO) announced its quarterly earnings results on Monday. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21, FiscalAI reports. CECO Environmental had a positive return on equity of 17.56% and a negative net margin of 3.39%.The business had revenue of $284.96 million during the quarter, compared to analyst estimates of $282.21 million. During the same period in the previous year, the company earned $0.26 EPS. The firm’s revenue was up 53.7% on a year-over-year basis.

Here are the key takeaways from CECO Environmental’s conference call:

• Record quarterly performance: Q2 orders rose 191% year over year to $799 million, revenue increased 54% to $285 million, and adjusted EBITDA grew 73% to $40.2 million, with margins expanding to a record 14.1%.
• Backlog reached a record $1.82 billion, up 164% year over year, while the trailing book-to-bill ratio exceeded 2.0 and the sales pipeline grew beyond $8.5 billion, providing substantial revenue visibility.
• CECO raised its 2026 outlook to revenue of $1.3 billion-$1.375 billion and adjusted EBITDA of $200 million-$225 million, citing strong bookings, backlog conversion, margin improvement, and expected full-year orders above $2 billion.
• The Thermon integration is progressing ahead of expectations, with approximately $13 million of annualized net adjusted EBITDA savings captured in the first 60 days—about one-third of the $40 million target—and more than 100 commercial opportunities identified.
• Thermon substantially increased leverage to 2.7 times trailing bank EBITDA after the acquisition, although CECO reported $39.5 million of debt paydown through July 31 and approximately $220 million of additional liquidity capacity.

CECO Environmental Price Performance

Shares of CECO Environmental stock opened at $73.97 on Wednesday. The firm has a fifty day simple moving average of $82.47 and a 200-day simple moving average of $73.66. The company has a current ratio of 1.33, a quick ratio of 1.18 and a debt-to-equity ratio of 0.78. CECO Environmental has a 1-year low of $42.78 and a 1-year high of $101.24. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -107.20 and a beta of 1.51.

Analyst Ratings Changes

A number of analysts have issued reports on CECO shares. Northland Securities set a $118.00 target price on shares of CECO Environmental in a research note on Friday, June 12th. Zacks Research upgraded shares of CECO Environmental from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Craig Hallum restated a “buy” rating and set a $103.00 price target on shares of CECO Environmental in a report on Tuesday, April 28th. Roth Capital reaffirmed a “buy” rating and issued a $85.00 price objective on shares of CECO Environmental in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut shares of CECO Environmental from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $104.00.

Insider Activity at CECO Environmental

In related news, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $96.61, for a total value of $3,284,740.00. Following the transaction, the director owned 166,000 shares in the company, valued at $16,037,260. This trade represents a 17.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard F. Wallman purchased 20,000 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $76.85 per share, for a total transaction of $1,537,000.00. Following the completion of the transaction, the director owned 105,500 shares of the company’s stock, valued at $8,107,675. The trade was a 23.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 16.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. raised its position in CECO Environmental by 3.5% in the 2nd quarter. Osaic Holdings Inc. now owns 12,297 shares of the company’s stock valued at $348,000 after purchasing an additional 412 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in CECO Environmental in the third quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of CECO Environmental in the third quarter valued at about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CECO Environmental by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,442 shares of the company’s stock worth $398,000 after buying an additional 790 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of CECO Environmental by 2.4% in the second quarter. Rhumbline Advisers now owns 43,137 shares of the company’s stock worth $1,221,000 after acquiring an additional 991 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

CECO Environmental Company Profile

CECO Environmental Corp. (NASDAQ: CECO) is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO’s core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.