COverview
CECO Environmental provides systems and services for air pollution control, energy recovery, and fluid handling. Its products help reduce emissions and improve air quality by capturing pollutants, filtering contaminants, and recovering energy in industrial processes. The company was founded in 1966 and became public in 1978, then grew through strategic acquisitions, including Met-Pro in 2013, to expand its filtration and fluid-handling capabilities. CECO differentiates itself with a broad portfolio of environmental technologies and a global footprint, backed by a commitment to sustainability and environmental stewardship. Its goal is to be a leading, full-spectrum provider of environmental solutions that help customers lower environmental impact and meet regulatory requirements worldwide.
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About CECO Environmental
Industries
Company Size
501-1,000
Company Stage
IPO
Headquarters
Addison, TX
Founded
1966
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What believers are saying
- November 9 orders hit $777.6 million, up 234%, signaling powerful demand momentum.
- CECO raised 2026 orders above $2.5 billion and 2027 revenue to $2.3 billion.
- Thermon savings reached $22 million annualized, accelerating margins and free cash flow.
What critics are saying
- Middle East industrial water projects are delayed by regional conflicts, hurting 2027 timing.
- Data-center demand drives about 20% of backlog; sentiment reversals hit orders fast.
- If large-project conversions slip, CECO's project-heavy model starves cash generation and margin expansion.
What makes CECO Environmental unique
- CECO became TXSE's first multi-industrial listing on October 19, 2026.
- Thermon added thermal solutions, lifting CECO's backlog to $2.19 billion on November 9.
- CECO sells engineered air, water, and energy-transition systems across power, gas, and industrial markets.
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Funding
Total Funding
$400M
Above
Industry Average
Funded Over
1 Rounds
Benefits
- Health Insurance
- Dental Insurance
- Vision Insurance
- 401(k) Retirement Plan
- Tuition Reimbursement
Stock Price
Growth & Insights and Company News
6 month growth
0%1 year growth
14%2 year growth
14%CECO Environmental Corp. reported a third-quarter loss of $2 million, or 3 cents per share. Adjusted for non-recurring costs, earnings were 60 cents per share, just below the 61 cents that three analysts surveyed by Zacks Investment Research expected. The Addison, Texas-based maker of air pollution controls and industrial ventilation systems posted revenue of $404.4 million. That beat analyst forecasts of $398 million. CECO expects full-year revenue of $1.3 billion to $1.38 billion.
CECO Environmental moves to Y'All Street, shares plummet, and i'm buying. Summary. * CECO Environmental remains a Strong Buy with a $95 price target, supported by robust growth and strategic transformation. * Q2 delivered record orders, a $1.8B backlog, 54% revenue growth, and 73% EBITDA growth; mid-teen EBITDA margins are expected to expand further. * Recent share price drop coincided with the Texas Stock Exchange move and sector-wide data center pullback, creating a compelling entry point under $44. * Synergies from the Thermon merger, diversified end-market exposure, and a $2B backlog underpin confidence in sustained double-digit growth and upside to earnings. * Looking for a helping hand in the market? Members of Inside the Income Factory get exclusive ideas and guidance to navigate any climate. Learn More" While I mostly like to write about income investments now that I am retired, I sometimes like to revisit under-covered growth stocks that I highlighted in the past. I recognized a trend starting in 2023 that was based on the Fourth Industrial Revolution, aka Industry 4.0, which essentially has turned into an AI revolution, but also includes developments in quantum computing (QTUM), robotics, and the electrification of everything. One of the growth stocks that I first wrote about back in 2022, before I made the connection with the coming Industry 4.0 impact on the industrial market, is an environmental compliance company that was started in 1966 and literally transformed itself into a powerhouse for industrial and environmental process solutions. That company is CECO Environmental Corp. (CECO), and I first reviewed the stock in November 2022. Since then, I have covered CECO on numerous occasions, each time rating the stock Strong Buy. Most recently in August, just after the company reported Q226 earnings as a post-Thermon merger combined company, I felt that the company had delivered on many of the promises they had made leading up to the merger. And that was before the full benefits of the merger had yet been realized. This paragraph from the Q2 earnings call summarized the record-setting quarterly results and added to my optimistic view of continued growth ahead. Simply put, this was a record-setting quarter across the board. We delivered record orders of $799 million. Our quarter ending backlog is over $1.8 billion. We generated revenue of $285 million and our adjusted EBITDA of approximately $40 million. Our reported revenue increased 54% year-over-year with continued strong double-digit organic revenue growth. Adjusted EBITDA increased 73% and margins expanded approximately 150 basis points to 14.1%, marking CECO's first quarter with mid-teen EBITDA margins. We expect EBITDA margins to rise in coming quarters with the full positive impact of Thermon, our integration synergies and ongoing double-digit top line growth. Move to Texas Stock Exchange coincided with price drop. Following Q2 results, the stock essentially moved sideways for about two months until early October, when the company announced that it was moving from the Nasdaq to the newly formed Texas Stock Exchange, or Y'All Street, as they like to say. Subject to customary conditions, CECO expects its common stock to cease trading on Nasdaq at the market close on Friday, October 16, 2026, and begin trading on TXSE at the market open on Monday, October 19, 2026. CECO's common stock will continue trading under the ticker symbol CECO and retain its existing CUSIP. The transfer is not expected to affect the Company's operations, financial condition, reporting obligations, or stockholders' rights, and stockholders need not take any action. The transfer reflects CECO's strategic alignment with Texas as a growing center for business, innovation, and capital markets. Todd Gleason, CECO's Chairman and Chief Executive Officer, commented: "CECO has been on a multi-year transformation journey diversifying our portfolio while delivering high-performance financial results and shareholder returns. By becoming the first multi-industrial company to transfer its primary listing to the Texas Stock Exchange, we are aligning with a well-capitalized, leading technology platform that introduces a new era of competitive growth in U.S. capital markets. We appreciate Nasdaq's partnership and support throughout CECO's growth as a public company." Shortly after that move was announced, the share price dropped by over 40% in the last month as shown by the red arrow in the chart below. Was it causation or coincidence that led to the price drop? Several other factors that occurred during that same timeframe could have been at least partly responsible for the plummeting share price. One of the likely reasons for the price drop could be that much of CECO's recent stellar performance has been due to their involvement in the design and construction of AI data centers. Many other high-flying stocks that also saw their share price soar in previous months due to involvement in data center construction also saw their share prices plunge in the past month. For example, other Texas-based companies that include Houston-based Powell Industries, Inc. (POWL), Irving-based Vistra Corp. (VST), and Sterling Infrastructure, Inc. (STRL), based in The Woodlands, TX, all saw their share prices plummet over the past month as well. Although the CECO share price rose by 16% on November 6, it is barely back to the price that it was trading for in July 2025. With an anticipated Q3 earnings report coming out on Monday, November 9, I believe that investors have started buying shares again ahead of an expected strong earnings report that is likely to send the price shooting much higher once the results are announced. I maintain my Strong Buy rating and feel that the current price of under $44 is an exceptional opportunity for a stock that I put a $95 price target on back in August. Comments from CEO Todd Gleason back up that assertion in his remarks from the Q2 earnings call in mid-August, which was well into Q3 by then, with no slowdowns or unexpected changes to the business trajectory. Our third quarter has started very well - with no slowdown in booked projects and sales opportunity discussions proceeding as expected. We continue to monitor the situation in the Middle East as well as certain inflationary items, but we believe we are navigating these challenges with cost actions and solid performance. In fact, there have been 6 EPS and revenue-up revisions and zero down revisions in the last 3 months, according to Seeking Alpha. The YOY December 2026 EPS growth is expected to exceed 150%. Viewed differently, CECO has far exceeded EPS estimates in the past two quarters, and future estimates have continued to rise as the company expands its products and services into new markets with the addition of Thermon Group. I see no reason to believe that business has slowed substantially in the past three months. In fact, this slide from the September 2026 East Coast IDEAS conference shows the current $2.0B backlog that illustrates the sustainable growth that CECO is experiencing. Furthermore, that backlog for future projects is not based on just the AI datacenter market but is broad-based and covers multiple end markets that both CECO and Thermon have targeted in the past and are expanding their presence in as a combined company. With CECO's niche leadership in power generation, LNG and gas infrastructure, industrial wastewater, semiconductors, and other materials processing businesses, additional opportunities have opened up in chem/petrochem, midstream oil and gas, nuclear, and rail infrastructure, to name just a few target markets. These target markets and the opportunity to expand the sales pipeline synergistically are further illustrated in another slide from the September investor presentation. Risks to buy thesis. If the broader market continues to go through a correction that affects small-cap growth stocks, CECO could see more downside in its share price in the short term. Panic sellers or year-end tax loss selling could lead to lower share prices over the coming weeks. If the company lowers forward guidance, that could also trigger a selloff. Conclusion. Whether the stock trades on the Nasdaq exchange or trades on the Y'All Texas exchange probably does not matter as much as what the earnings results show. It is my expectation that Q326 will turn out to be yet another record-setting quarter for CECO and most likely will guide even higher in Q4 as the company's combined synergies from the Thermon merger begin to take shape, with the backlog turning into new projects in the months ahead. I maintain my Strong Buy rating and keep my $95 price target on CECO ahead of earnings, which are expected to be announced pre-market on Monday morning, November 9. 9.11K Followers Now retired, I am an income-oriented investor seeking high yield income to support my lifestyle in retirement.I became deeply interested in the stock market beginning in late 2007 (bad timing for me but worse for my uncle) when I received an unexpected inheritance. Since that time I have done considerable research and vowed to make smarter long-term investing decisions after suffering through the Great Recession with minimal losses to my inherited portfolio, after firing my financial advisor.I look for mostly dividend paying income stocks and funds (BDCs, REITs, CEFs, ETFs) that offer high yield income to increase my retirement income beyond my pension and Social Security. I also enjoy reading investment/financial and business information and following trends in technology and markets. The human psychology of markets is as fascinating and inscrutable to me as the financial side. I am not a financial advisor so please do your own due diligence before making any buy or sell decisions."The race is not always to the swift, nor the battle to the strong, but that's the way to bet." Damon Runyon Analyst's Disclosure: I/we have a beneficial long position in the shares of CECO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. I own shares of CECO in two growth-oriented portfolios. This is NOT an income stock. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
CECO Environmental Stock in focus ahead of earnings report and investor conferences. November 5, 2026, 16:44 PST * CECO Environmental recently announced that CEO Todd Gleason and VP Marcio Pinto participated in November investor conferences and hosted one on one meetings, while the business prepared to release third quarter 2026 results supported by project backlogs across power generation, natural gas infrastructure, electronics and reshoring activity. * The combination of an upcoming earnings release tied to specific end market demand drivers and direct investor engagement highlights how closely CECO Environmental's order visibility, cost pressures and foreign currency effects are being scrutinized in relation to its long term project pipeline. * We will look at how CECO Environmental's investment narrative is shaped by upcoming third quarter results and CEO conference outreach. Compare CECO Environmental's conference-driven catalyst setup with other industrial players leaning into infrastructure, reshoring and energy demand by scanning our hand picked 40 power grid technology and infrastructure stocks today. CECO Environmental investment narrative recap. To own CECO Environmental, you need to be comfortable with a project heavy model tied to power generation, natural gas infrastructure, electronics, and reshoring work. The big swing factor in the near term is how cleanly that record backlog converts into revenue and cash on the upcoming third quarter 2026 update, especially within Engineered Systems and Industrial Process Solutions. The sharpest risk right now sits around cost inflation, higher selling and administrative spend, and foreign currency drag squeezing margins while leverage questions remain in the background. November's earnings print and commentary around order timing probably matter more to the story than the conference appearances themselves. The most relevant fresh item is CECO Environmental's plan for CEO Todd Gleason and VP Marcio Pinto to present at the Baird 2026 Global Industrial Conference and the 18th Annual Southwest Ideas Conference, with materials posted on the investor relations site. That timetable lands directly on top of the third quarter 2026 results on November 9. Investors get an earnings release plus rapid fire conference Q&A, which can sharpen views on backlog quality, cost discipline, and foreign exchange sensitivity. This pairing could also surface more detail on Thermon integration, project phasing in power and gas, and how management is thinking about balance sheet flexibility if industrial water awards in the Middle East remain delayed. CECO Environmental's narrative projects US$2.5b revenue and US$358.9m earnings by 2029. This aligns with analysts' expectations of 41.0% yearly revenue growth and an earnings change of roughly US$390m, moving from a loss of US$30.6m today to those forecast profits. Discover why CECO Environmental's fair value suggests a 146% potential upside to its current price, which may not be available for much longer. Exploring other perspectives. Not every analyst views CECO Environmental through the same lens. While the consensus narrative leans on record backlog, the most cautious group focused instead on execution risk in large power projects and a slower industrial water ramp. Those bearish estimates pencilled in revenue of about US$2.1b and earnings near US$231.3m by 2029, so your takeaway may shift as conference commentary and the upcoming results reshape these pre-news forecasts. Explore 3 other CECO Environmental fair value estimates, including one that suggests it could be worth just $108.23! Reach your own conclusion. Don't just follow the ticker. Dig into the data and build a conviction that's truly your own. * A great starting point for your CECO Environmental research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. * See our latest analysis for CECO Environmental. The report includes a comprehensive fundamental analysis summarized in a single visual, the Snowflake, making it easy to evaluate CECO Environmental's overall financial health at a glance. Looking for more investment Ideas beyond CECO Environmental? If CECO Environmental has sharpened your thinking about project driven industrial stories, it can help to cross check those insights against a wider watchlist built with the Simply Wall St Screener. * For investors who want potential upside but still care about quality, scan a curated mix of resilient businesses through our 21 high quality undiscovered gems. * If capital preservation and steadier profiles matter more to you than chasing every swing, filter for companies with lower risk scores using the 32 resilient stocks with low risk scores. * When you prefer balance sheets that can absorb shocks and fund growth internally, build a shortlist from the list of solid balance sheet and fundamentals (25 results). New: AI Stock Screener & alerts. Our new AI Stock Screener scans the market every day to uncover opportunities. - Dividend Powerhouses (3%+ Yield) - Undervalued Small Caps with Insider Buying - High growth Tech and AI Companies Or build your own from over 50 metrics. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]
How nasdaq Composite removal at CECO Environmental Stock has changed its investment story. October 27, 2026 * CECO Environmental was removed from the NASDAQ Composite index in mid October 2026, following a reconfiguration of the benchmark's constituents. * The exclusion may matter for CECO Environmental's fundamentals because index related selling can shift the shareholder base and influence capital access and funding costs. * We will now look at how CECO Environmental's investment narrative could be affected by its removal from the NASDAQ Composite index. Compare how CECO Environmental's situation stacks up against other potential turnaround stories by scanning our curated list of 21 high quality undiscovered gems featuring similarly under the radar profiles. CECO Environmental investment narrative recap. For CECO Environmental, the investment story hinges on whether the record US$1.82b backlog and US$8.5b pipeline actually turn into profitable projects. You need to be comfortable that integration of Thermon, mix shift into higher margin industrial water and process heating, and execution on long cycle power and gas projects offset current losses and a weak net income base. The NASDAQ Composite removal mainly affects who owns the shares rather than how many scrubbers, heaters, or water systems CECO Environmental delivers. The bigger near term swing factor remains project timing and integration risk. The key threat is that delayed Middle East water work and any pressure on leverage combine to squeeze margins and cash generation. With no fresh operational announcements tied directly to the index removal, the most relevant disclosures remain the earlier backlog and order figures. Record US$799m in quarterly bookings, a trailing book to bill above 2.0, and a backlog that extends into 2029 and 2030 all keep attention on execution, not index status, as the real driver. That backlog and the Thermon deal sit at the center of the current catalyst set for CECO Environmental. Delivery of cost synergies, stability of large power and natural gas projects, and conversion of higher margin industrial water and data center related work into earnings all matter more for the thesis than index inclusion. Leverage and dilution history remain firmly on the risk list. CECO Environmental's current analyst narrative points to revenues of US$2.5b and earnings of US$358.9 million by 2029, based on a forecast revenue growth rate of 41.0% per year and an earnings swing of about US$389.5 million from a loss of US$30.6 million today. Uncover why CECO Environmental's fair value indicates a 95% potential upside to its current price, a gap that could narrow quickly. Exploring other perspectives. Some of the most optimistic analysts focus on CECO Environmental's Thermon combination as the real swing factor, rather than the NASDAQ Composite exit. Before this index change, the highest forecasts were aiming for about US$2.3b of revenue and US$284.1 million of earnings by 2029. Those views could shift, so compare several narratives before deciding what this index move means for you. Explore 3 other CECO Environmental fair value estimates, including one that suggests as much as 126% potential upside from the current price. Decide for yourself. Don't just follow the ticker; dig into the data and build a conviction that's truly your own. * A great starting point for your CECO Environmental research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. * See our latest analysis for CECO Environmental. The report includes a comprehensive fundamental analysis summarized in a single visual, the Snowflake, making it easy to evaluate CECO Environmental's overall financial health at a glance. Looking for more investment ideas beyond CECO Environmental? If you want to stress test your view on CECO Environmental and broaden your watchlist, use the Simply Wall St Screener to line it up against other opportunities with very different risk and return profiles. * If you care most about quality and valuation discipline, start with a curated set of companies that currently screen as 29 high quality undervalued stocks to see where the market might be pricing in too much pessimism. * If capital preservation comes first for you, compare CECO Environmental with a 30 resilient stocks with low risk scores and see which businesses better match your comfort level. * If balance sheet strength is non negotiable in your process, focus on companies from the list of solid balance sheet and fundamentals (24 results) and look for those that combine resilience with consistent fundamentals. New: AI Stock Screener & alerts. Our new AI Stock Screener scans the market every day to uncover opportunities. - Dividend Powerhouses (3%+ Yield) - Undervalued Small Caps with Insider Buying - High growth Tech and AI Companies Or build your own from over 50 metrics. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]
CECO Environmental stock fell 6.31 percent to USD 56.72 on October 16, 2026. Published on 10/17/2026 at 20:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS The 52-week range was USD 42.82 to USD 101.24. CECO Environmental stock was USD 56.72 on October 16, down 6.31 percent on Nasdaq. Nasdaq session falls 6.31 percent. * CECO Environmental stock fell 6.31 percent on October 16, 2026. * Second-quarter revenue reached USD 284.96 million, up 53.70 percent year over year. * CECO Environmental stock was last quoted at USD 56.72 on October 16, 2026 at 4:00 p.m. ET, down 6.31 percent on Nasdaq. * Trading under the CECO ticker is scheduled to begin on the Texas Stock Exchange on October 19, 2026. CECO Environmental stock was last quoted at USD 56.72 on Nasdaq on October 16, 2026 at 4:00 p.m. ET, down 6.31 percent on the session. The move gives investors a clear price marker before the company changes its primary U.S. listing. Second-quarter revenue reached USD 284.96 million. CECO Environmental reported second-quarter 2026 revenue of USD 284.96 million, up 53.70 percent from the same quarter a year earlier, while adjusted earnings per share came to USD 0.47 against USD 0.26 in the prior-year quarter, according to MarketBeat. The latest price still sits 43.97 percent below the 52-week high of USD 101.24 and 32.46 percent above the 52-week low of USD 42.82. CECO's one-year performance was 16.04 percent, while its one-month performance was minus 18.29 percent, according to Simply Wall St. Valuation and exchange date. Mehr entdecken Nachrichten-Abonnement Nachrichten-Blog Eilmeldungen Service CECO Environmental's market capitalization was USD 3.3 billion on October 17, 2026. Its price-to-earnings ratio was negative 94.72, and its average trading volume was 868,423 shares. The company does not pay a dividend according to the quoted market figures. CECO Environmental is scheduled to begin trading on the Texas Stock Exchange on October 19, 2026, after its Nasdaq listing was set to end with the October 16 session, according to FinanzNachrichten. The ticker remains CECO, so the venue changes while the company identifier stays the same. Price position before the listing move. The Nasdaq Composite fell 2.14 percent to 26,140.03 on October 16, 2026. CECO's decline was therefore steeper than the broad technology-heavy index on that session, although the company belongs to the industrial sector rather than technology. The price frame remains defined by the gap between USD 56.72 and the 52-week high of USD 101.24. CECO Environmental provides industrial air-quality, water-treatment and energy-transition systems. Its business is organized around Engineered Systems and Industrial Process Solutions, serving customers across industrial manufacturing, power generation and water treatment. Nasdaq close sets the reference point. The stock was last quoted at USD 56.72 on Nasdaq on October 16, 2026 at 4:00 p.m. ET, down 6.31 percent versus the Nasdaq prior close of USD 60.54. The next scheduled venue change is October 19, 2026, when trading is expected to start on the Texas Stock Exchange. CECO Environmental market data. * Company: CECO Environmental Corp. * ISIN: US1251411013 * Ticker: CECO * Primary exchange: Nasdaq * Price on Nasdaq (as of October 16, 2026, 4:00 p.m. ET): USD 56.72 * Change versus Nasdaq prior close: minus 6.31 percent * Nasdaq prior close (October 15, 2026): USD 60.54 * Market capitalization: USD 3.3 billion (as of October 17, 2026) * 52-week range: USD 42.82-101.24 (as of October 16, 2026) * Sector / Industry: Industrials / Industrial - Pollution and Treatment Controls Mehr entdecken Nachrichten-Archiv Politische Nachrichten Wirtschafts-Nachrichten Sponsored Ad Ceco Environmental stock: new analysis - 18 October. Fresh Ceco Environmental information released. What's the impact for investors? Our latest independent report examines recent figures and market trends. Disclaimer regarding our articles: This is not investment advice, nor is it a recommendation to buy or sell. Information regarding prices, companies, and markets is provided without guarantee; changes may occur at any time. Stock market transactions can result in significant losses. Our articles are created and reviewed, in whole or in part, automatically with the assistance of AI. en | US1251411013 | CECO | boerse | 70349928 | bgmi
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About CECO Environmental
Industries
Company Size
501-1,000
Company Stage
IPO
Headquarters
Addison, TX
Founded
1966
CECO Environmental is Hiring for 54 Jobs on Simplify!
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