Q2 2025 CECO Environmental Corp Earnings Call Transcript
Key Points
- CECO Environmental Corp (CECO) achieved a record backlog of $688 million, up 76% year-over-year.
- The company reported a 95% increase in new bookings for Q2 2025 compared to the same quarter last year.
- Revenue for the quarter reached $185 million, marking a 35% year-over-year increase.
- Adjusted EBITDA rose by 45% year-over-year, driven by strong gross margins and improved SG&A cost profile.
- CECO Environmental Corp (CECO) raised its 2025 annual guidance for orders and revenue, reflecting strong market demand and a robust sales pipeline.
- The company anticipates modest inflation in the second half of 2025, which could impact costs.
- There is some softness in the European market, which could affect overall demand.
- Despite strong performance, the company is maintaining its previous outlook for adjusted EBITDA and free cash flow, indicating potential challenges in achieving higher profitability.
- The company is experiencing increased working capital requirements to support substantial revenue growth, resulting in a net cash outflow.
- CECO Environmental Corp (CECO) is adding resources to prepare for 2026 growth, which may increase costs in the short term.
Good day, and thank you for standing by. Welcome to the CECO Environmental second quarter 2025 earnings call. (Operator Instructions) Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Steven Hooser, Investor Relations. Please go ahead.
Thank you, Kevin, and thank you all for joining us on the CECO Environmental second quarter 2025 Earnings Call. On the call with me today is Todd Gleason, Chief Executive Officer; and Peter Johansson, Chief Financial Officer. Before we begin, I'd like to note that we have provided a slide presentation to help guide our discussion.
The call will be webcast along with our earnings presentation, which is on our website at cecoenviro.com. The presentation materials can be accessed through the Investor Relations section of the website. I'd also like to caution investors regarding forward-looking statements. Any statements made in today's presentation that are not based on historical fact are
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