Key Points – CECO reported record Q2 performance, with orders of $799 million, revenue of $285 million, adjusted EBITDA of about $40 million and backlog exceeding $1.8 billion.
Revenue increased 54% year over year, while adjusted EBITDA rose 73% and margins expanded to 14.1%. – The Thermon acquisition is generating early benefits, including approximately $13 million in annualized net adjusted EBITDA savings within its first 60 days
CECO also identified more than 100 cross-selling opportunities across the combined businesses. – CECO raised its 2026 outlook to $1.3 billion–$1.375 billion in revenue and $200 million–$225 million in adjusted EBITDA, while continuing to target more than $2 billion in annual orders and at least 55% adjusted free-cash-flow conversion. – Ride the Rally: 3 Earnings Winners With More Upside Ahead CECO Environmental (NASDAQ:CECO) reported record second-quarter results for 2026, citing accelerating orders, a growing backlog and early cost savings from its acquisition of Thermon, which closed June 1. Chairman and Chief Executive Officer Todd Gleason said second-quarter orders reached a record $799 million, while quarter-end backlog exceeded $1.8 billion. Revenue totaled $285 million and adjusted EBITDA was approximately $40 million.
Reported revenue rose 54% from a year earlier, while adjusted EBITDA increased 73% and adjusted EBITDA margin expanded about 150 basis points to 14.1%. The reported quarterly results included one month of Thermon financial performance. CECO said it expects margins to improve further as it receives a full contribution from Thermon, realizes integration synergies and converts a growing proportion of its backlog into revenue.