Ceco Environmental raises FY23 revenue view to $500M-$525M from $460M-$485M

Consensus is for FY23 revenue $487.32M. Revenue guidance represents an increase of at least 21%, at the mid-point, year over year. The Company also updated its expected FY23 adjusted EBITDA view to $50M-$55M, up approximately 25% at the mid-point, year over year. “We are pleased to increase our full year guidance, which reflects continued confidence in the high performance and advantageous diversity of the CECO portfolio. Our record backlog and strong sales pipeline provide strong visibility in support of sustainable future growth. Additionally, the acquisitions we have completed over the past year and a half are all performing at or above the high-growth financials associated with each transaction,” stated Gleason. “As I discussed last quarter and reiterate today, we expect 2023 to be another building block in our steady transformational journey to further advance our leadership in our Industrial Air, Industrial Water and Energy Transition markets which we expect to provide