Environmental services provider CECO Q3 revenue beats estimates, posts record backlog

CECO Environmental

28/10/2025 11:17

Overview

CECO Q3 revenue grows 46%, beating analyst expectations

Company reports record backlog of $719.6 mln, up 64% yr/yr

Adjusted EBITDA for Q3 rises 62% yr/yr

Outlook

Company maintains 2025 revenue outlook of $725 to $775 mln

CECO expects 2025 adjusted EBITDA between $90 to $100 mln

Company projects 2026 revenue between $850 and $950 mln

CECO anticipates 2026 adjusted EBITDA between $110 and $130 mln

Result Drivers

RECORD ORDERS - CECO reported orders of $232.9 mln, up 44%, contributing to a record backlog of $719.6 mln

DIVERSIFIED PORTFOLIO - Growth driven by environmental solutions for industrial air, water, and energy transition markets

SALES PIPELINE - CEO notes a sales pipeline exceeding $5.8 bln, indicating potential for sustained growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$197.59 mln
$190.36 mln (6 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the environmental services & equipment peer group is "buy"

Wall Street's median 12-month price target for CECO Environmental Corp is $53.50, about 0.3% above its October 27 closing price of $53.36

The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 24 three months ago

Press Release: ID:nGNXcjtg

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)