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Ceco Environmental (CECO)
NASDAQ:CECO
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.33Last Year’s EPS
$0.28Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 12.09%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment, with significant achievements in record bookings, backlog, and strategic acquisitions. However, these positives were tempered by challenges in executing projects and softer than expected revenue, leading to a cautious outlook.Company Guidance
During CECO Environmental's Q3 2024 earnings call, the company provided guidance for the full year 2024 and introduced its outlook for 2025. For 2024, CECO updated its revenue guidance to a range of $575 million to $600 million, representing approximately 10% year-over-year growth at the midpoint, and adjusted EBITDA to a range of $65 million to $70 million, up around 17% year-over-year at the midpoint. The company highlighted record backlog levels of $438 million, up 11% from the previous year, with new orders in Q3 reaching $162 million, marking a 12% year-over-year increase. For 2025, CECO anticipates revenues between $700 million and $750 million, reflecting a 25% rise at the midpoint, and adjusted EBITDA in the range of $90 million to $100 million, indicating a 40% increase at the midpoint. These projections are supported by a strong sales pipeline and recent acquisitions, with expectations of continued margin expansion.Record Bookings and Backlog
New orders in Q3 2024 exceeded $160 million, setting a record for Q3 and tying for the largest quarter ever. The backlog also reached a record level of $438 million, surpassing $400 million for the first time in company history.
Strategic Acquisitions
CECO announced two significant acquisitions: WK Group, expanding global industrial air capabilities, and Profire Energy, enhancing combustion management solutions. These acquisitions are expected to unlock new industrial and geographic markets for growth.
Improved Gross Profit Margins
Gross profit margin for Q3 2024 was 33.4%, up 450 basis points from the previous year, due to material sourcing, productivity initiatives, and an improved portfolio mix.
Expanded Credit Facility
CECO increased its senior secured revolving credit facility from $250 million to $400 million, enhancing capacity for organic and M&A growth.
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CECO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CECO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $26.31 | $22.56 | -14.25% |
| Jul 30, 2024 | $30.01 | $28.11 | -6.33% |
| Apr 30, 2024 | $25.39 | $21.62 | -14.85% |
| Mar 05, 2024 | $22.91 | $18.81 | -17.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Ceco Environmental (CECO) report earnings?
Ceco Environmental (CECO) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Ceco Environmental (CECO) earnings time?
Ceco Environmental (CECO) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CECO EPS forecast?
CECO EPS forecast for the fiscal quarter 2024 (Q4) is $0.33.
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