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Dec 31, 2021
CECO Q4 2021 Earnings Report
CECO Environmental reported fourth quarter and full year results, delivering continued quarterly bookings growth and sequential increases in revenue and margins.
Key Takeaways
CECO Environmental Corp. reported a revenue of $93.6 million for Q4 2021, compared to $82.9 million for the same period last year. The company's operating income increased to $5.3 million, up from $3.7 million year-over-year. Net income was $1.2 million, compared to $1.8 million in the prior year.
Revenue increased to $93.6 million compared to $82.9 million year-over-year.
Gross profit was $28.5 million with a 30.5% margin, compared to $26.2 million with a 31.6% margin year-over-year.
Operating income increased to $5.3 million, compared to $3.7 million year-over-year.
Bookings increased to $90.6 million, compared to $77.2 million year-over-year.
CECO
CECO
Forward Guidance
CECO expects to continue to reshape its portfolio to expand its leadership positions in industrial air, industrial water and to support the energy transition. The company expects to deliver solid organic sales growth and double-digit EBITDA growth in 2022, which will be enhanced by strategic, accretive acquisitions.
Positive Outlook
- Continue to reshape portfolio.
- Expand leadership in industrial air.
- Expand leadership in industrial water.
- Support the energy transition.
- Deliver solid organic sales growth and double-digit EBITDA growth in 2022.