Ceco Environmental Corp. ( (CECO) ) has released its Q4 earnings. Here is a breakdown of the information Ceco Environmental Corp. presented to its investors.
CECO Environmental Corp., headquartered in Addison, Texas, is a diversified industrial company focused on providing environmentally friendly solutions across industrial air, water, and energy transition markets globally. The company is known for its innovative solutions that enhance air and water quality, optimize emissions management, and improve energy efficiency.
In its latest earnings report for the fourth quarter and full year of 2024, CECO Environmental Corp. announced record bookings of $219 million, increasing its year-end backlog to $541 million. Despite mixed results due to project delays, the company reaffirmed its positive outlook for 2025, driven by strong order momentum.
Key financial highlights include a 71% increase in orders for the quarter, a 46% rise in backlog, and a 7% increase in gross profit. However, non-GAAP net income and adjusted EBITDA saw slight declines. For the full year, CECO reported a 14% increase in orders and a 15% rise in gross profit, although free cash flow decreased significantly by 80%.
Looking ahead, CECO Environmental Corp. maintains a positive outlook for 2025, expecting revenue growth of approximately 30% and adjusted EBITDA to rise by 50%. The company plans to leverage its record backlog and recent acquisitions to capitalize on opportunities in key growth markets such as power generation and industrial manufacturing.
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