Welcome to our dedicated page for Ceco Environmental news (Ticker: CECO), a resource for investors and traders seeking the latest updates and insights on Ceco Environmental stock.
CECO Environmental Corp. (NASDAQ: CECO) is a diversified global provider of engineered technologies for environmental, energy, and fluid handling and filtration industrial segments. With a focus on niche markets and an asset-light business model, CECO operates through two main segments: Engineered Systems and Industrial Process Solutions. The company's solutions cater to a variety of industries, including power generation, refinery, wastewater treatment, petrochemical, food and beverage, semiconductor, and electric vehicle production.
Founded in 1966 and headquartered in Dallas, Texas, CECO boasts over 50 years of expertise and innovation in air quality improvement, energy optimization, and custom solutions for complex industrial applications. The company's well-respected brands and technologies are recognized globally for their reliability and effectiveness.
CECO's recent acquisition of Kemco Systems, a leader in industrial water recycling and energy conservation, marks a significant expansion in the company's capabilities and market reach. This acquisition is part of CECO's strategic growth plan, which includes a focus on increasing recurring revenue from aftermarket products and services.
Financially, CECO has shown strong performance, with updated guidance for 2023 projecting revenues between $525 million and $550 million, and adjusted EBITDA between $55 million and $57 million. The company's revenue has been bolstered by a backlog of $394 million, indicating sustained growth and market demand.
CECO's commitment to environmentally sustainable solutions, coupled with its strategic acquisitions and robust financial health, positions it as a leader in industrial environmental technologies. For more information, visit www.cecoenviro.com.
CECO Environmental Corp. (CECO) is set to present at various investor conferences in May and June 2024. The CEO and CFO will participate in events such as TD Cowen 2nd Annual Sustainability Week, Craig-Hallum Institutional Investor Conference, Wells Fargo Industrials Conference, East Coast IDEAS Conference, and ROTH MKM Annual London Conference. Investors can access the presentations on the company's Investor Relations website.
CECO Environmental Corp. (Nasdaq: CECO) reported its financial results for the first quarter of 2024, showcasing record revenue, gross margins, and backlog. Despite a decrease in net income, non-GAAP net income increased, and adjusted EBITDA saw a significant rise. The company reaffirmed its full-year 2024 guidance, expecting growth in revenue, Adjusted EBITDA, and free cash flow. The CEO highlighted the strong operating model and diversified businesses contributing to the positive results.
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