Ceco Environmental lowers 2024 revenue view to $575M-$600M from $600M-$620M

Consensus for 2024 revenue is $606.11M. Lowers 2024 adjusted EBITDA to $65M-$70M from $68M-$72M. “Our updated full year 2024 guidance essentially mirrors the initial outlook we provided as we entered 2024. As previously mentioned, unfortunately, the customer-driven delays associated with a handful of larger projects impacted our ability to hit the raised guidance we issued mid-year. This is the first time we have reduced guidance in company history, and although this is disappointing for our short-term results, we remain very pleased with our bookings, margin expansion progress and overall execution. Additionally, the revenue and associated income from the 2024 project delays slide into upcoming quarters, so we remain focused on execution and controlling factors we can influence,” said CEO Gleason