CECO ENVIRONMENTAL CORP

CECO Environmental Corp. announced it will release its second quarter 2026 financial results premarket on August 6, 2026. Following the release, the company will host an earnings call at 8:30 a.m. Eastern Time to discuss the results. Financial details and a presentation will be posted on the company's website, and a replay of the call will be available afterward.

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.

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.

CECO Environmental Corp. announced the completion of its strategic merger with Thermon Group Holdings, Inc. on June 1, 2026. In connection with the merger, CECO issued approximately 22.53 million shares of its common stock and paid aggregate cash consideration of approximately $329.4 million to former Thermon shareholders. The combined company will operate as CECO Environmental, led by CEO Todd Gleason, and its Board of Directors now includes two former Thermon Directors.

CECO Environmental Corp. announced the completion of its strategic combination with Thermon Group Holdings, Inc. The combined entity will operate as CECO Environmental, continuing under CEO Todd Gleason and the existing CECO Board, now including two former Thermon Directors. This merger is expected to deliver long-term shareholder value and expand CECO's market exposure. Former Thermon shareholders received cash and/or CECO common stock.

CECO Environmental Corp. and Thermon Group Holdings, Inc. announced that their respective stockholders overwhelmingly approved the previously disclosed strategic combination. CECO stockholders approved the stock issuance for the merger, and Thermon stockholders approved the combination, with both receiving nearly 99.9% of votes in favor. The transaction is anticipated to close on or around June 1, 2026, and details regarding the merger consideration elections by Thermon stockholders were also provided. Additionally, CECO stockholders approved a new 2026 Equity Plan and elected eight director nominees.

CECO Environmental Corp. and Thermon Group Holdings, Inc. jointly announced the election deadline for Thermon stockholders to choose their merger consideration. The deadline is 5:00 p.m. Central Time on May 22, 2026, with the transaction expected to close on June 1, 2026, subject to customary conditions. Stockholders can elect to receive Stock Consideration (0.8110 CECO shares), Mixed Consideration (0.6840 CECO shares + $10.00 cash), or Cash Consideration ($63.89 cash), all subject to proration. Those who do not make an election will receive the Mixed Consideration.

CECO Environmental Corp. amended its credit facility, increasing it to $740 million and adding a $235 million incremental senior secured delayed-draw term loan commitment to fund a contemplated merger and acquisition. For the three months ended March 31, 2026, the company reported a net loss of $0.248 million, a significant decrease from the $36.442 million net income in the prior year, primarily due to the absence of a large gain on sale of business in 2025. Despite the loss, net sales increased to $205.919 million from $176.697 million year-over-year.

CECO Environmental Corp. reported strong first quarter 2026 financial results, highlighted by a 97% increase in orders to $449.5 million and a record backlog eclipsing $1 billion, up 72%. Revenue grew 17% to $205.9 million, and non-GAAP net income surged 297% to $13.9 million. The company also raised its full-year 2026 guidance, expecting revenue between $940 million and $1 billion and Adjusted EBITDA between $120 million and $140 million. Additionally, the proposed merger with Thermon Group Holdings, Inc. remains on track for a second-quarter close, with stockholder votes scheduled for May 27, 2026.

CECO Environmental Corp. announced it will release its first-quarter 2026 financial results premarket on April 28, 2026. The company will host an earnings call and webcast at 8:30 a.m. ET on the same day to discuss the results. Investors can access the financial results, presentation, and webcast details on the company's website.