Business UpdateJun 9, 2026, 07:02 AM
CECO Updates 2026 Outlook Post-Thermon Acquisition; Revenue $1.275B-$1.375B
AI Summary
CECO Environmental provided an update on the integration of Thermon Group Holdings, Inc., stating the process is on track and delivering immediate benefits, with confidence in achieving over $40 million in cost synergies. The company updated its full-year 2026 guidance for the combined entity, projecting revenue between $1.275 billion and $1.375 billion, a 20% increase at the midpoint year-over-year. Adjusted EBITDA is expected to be $195 million to $225 million, up 25% at the midpoint, with free cash flow at least 55% of Adjusted EBITDA. Strong market conditions and record orders further bolster confidence in potential overperformance.
Key Highlights
- Thermon acquisition integration is on track and delivering immediate benefits.
- Company expects to generate $40 million or more in cost synergies from the acquisition.
- Full-year 2026 revenue guidance for combined company is $1.275 billion to $1.375 billion.
- Revenue outlook represents approximately 20% increase at midpoint year-over-year.
- Full-year 2026 Adjusted EBITDA guidance is $195 million to $225 million.
- Adjusted EBITDA outlook represents approximately 25% increase at midpoint year-over-year.
- Free Cash Flow is expected to be at least 55% of Adjusted EBITDA.
- Legacy CECO businesses booked orders greatly exceeding previous records in early June.
Price Impact
More from CECO