CECO Environmental reported second-quarter 2026 results following its June 1 Thermon acquisition, with revenue of $285.0 million and record orders of $798.5 million. The company posted a GAAP net loss of $(34.8) million and non-GAAP net income of $21.5 million, with adjusted diluted EPS of $0.47. CECO raised its full-year 2026 consolidated revenue and adjusted EBITDA outlook and reported backlog above $1.8 billion.

Financial Highlights

• Revenue: $285.0 million for the three months ended June 30, 2026 (up 54% year-over-year).
• Gross profit: $86.5 million; gross margin: 30.3% (non-GAAP gross profit $96.0 million; non-GAAP margin 33.7%).
• Operating (loss) / non-GAAP operating income: GAAP operating loss $(33.2) million; non-GAAP operating income $32.1 million.
• Net (loss) / non-GAAP net income: GAAP net loss $(34.8) million; non-GAAP net income $21.5 million.
• Adjusted diluted EPS (non-GAAP): $0.47; GAAP diluted EPS: $(0.80).

Business Highlights

• Orders: $798.5 million in Q2 2026, an increase of 191% versus prior-year period; backlog rose to $1,819.1 million (up 164%).
• Acquisition integration: Thermon acquisition closed June 1, 2026; integration and early synergy capture reported as progressing ahead of plan.
• Pipeline expansion: Combined sales pipeline stated to exceed $8.5 billion, driven by Thermon addition and expanded market reach.
• Operational momentum: Company cited continued strong project bookings and ongoing sales opportunities with no near-term slowdown entering Q3.
• Cash flow and capital: Adjusted free cash flow improved to $53.2 million for the quarter (adjusted for Thermon transaction cash payments); company raised full-year guidance and targets free cash flow conversion of at least 55% of Adjusted EBITDA.

Original SEC Filing: CECO ENVIRONMENTAL CORP [ CECO ] - 8-K - Aug. 10, 2026