Business UpdateJun 9, 2026, 03:51 PM
CECO Environmental Updates 2026 Outlook Post-Thermon Acquisition
AI Summary
CECO Environmental Corp. has updated its full-year 2026 outlook to incorporate the recent acquisition of Thermon Group Holdings, Inc., which closed on June 1, 2026. The revised guidance reflects seven months of contribution from Thermon, with the company expecting full-year revenue between $1.275 billion and $1.375 billion, and Adjusted EBITDA between $195 million and $225 million. CECO expressed confidence in achieving $40 million or more in cost synergies and noted strong market conditions and order bookings.
Key Highlights
- Updated full-year 2026 outlook to reflect Thermon acquisition, closed June 1, 2026.
- Full-year revenue expected between $1.275 billion and $1.375 billion, up approximately 20% YoY.
- Adjusted EBITDA projected between $195 million and $225 million, up approximately 25% YoY.
- Free Cash Flow expected to be at least 55% of Adjusted EBITDA.
- Company confident in generating $40 million or more in cost synergies.
- Initial integration phase of Thermon acquisition is on track and delivering immediate benefits.
- Strong orders and market opportunities noted in power generation, data centers, and semiconductors.
Price Impact
More from CECO