CECO Environmental Corp. (CECO) Income Statement
CECO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCECO revenue and net income
Where CECO's revenue goes
2025Each bar shows an amount and its share of revenue. CECO kept 6.5% of revenue as net income.
CECO profit margins
CECO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +38.8% | +22.4% | +19.6% | +7.7% |
| Gross profit | +29.0% | +25.4% | +19.2% | +8.5% |
| Operating income | +46.1% | +32.6% | +31.1% | +25.4% |
| Net income | +286.3% | +42.2% | +43.6% | — |
| EPS (diluted) | −5.6% | −2.3% | +4.0% | −3.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CECO quarterly EPS vs estimates
CECO Environmental beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 27, 2026 (estimate $0.69).
CECO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $774.4M | $557.9M | $544.8M | $422.6M | $324.1M | $316.0M | $341.9M | $337.3M | $345.1M | $417.0M |
| Cost of revenue | $521.3M | $361.8M | $373.8M | $294.4M | $223.2M | $210.9M | $227.8M | $225.8M | $231.9M | $282.2M |
| Gross profit | $253.1M | $196.1M | $171.0M | $128.2M | $100.9M | $105.1M | $114.1M | $111.5M | $113.2M | $134.9M |
| Sales, general & admin | $200.7M | $146.7M | $122.9M | $93.5M | $81.8M | $76.9M | $86.0M | $390.7M | $405.0M | $81.7M |
| Total operating expenses | $201.3M | $160.7M | $136.4M | $106.1M | $91.1M | $91.8M | $96.1M | $97.1M | $96.1M | $102.0M |
| Operating income | $51.7M | $35.4M | $34.6M | $22.2M | $9.9M | $13.3M | $18.0M | $10.0M | $8.0M | −$25.6M |
| Interest expense | $20.9M | $13.0M | $13.4M | $5.4M | $3.0M | $3.5M | $5.4M | $7.1M | $6.7M | $7.7M |
| Income before taxes | $82.8M | $17.7M | $21.5M | $23.7M | $4.7M | $11.8M | $13.3M | $2.5M | $1.4M | −$33.0M |
| Income taxes | $29.7M | $3.3M | $7.0M | $5.4M | $2.7M | $3.7M | −$4.4M | $9.6M | $4.4M | $5.3M |
| Net income | $50.1M | $13.0M | $12.9M | $17.4M | $1.4M | $8.2M | $17.7M | −$7.1M | −$3.0M | −$38.2M |
| EBITDA | $128.6M | $45.2M | $47.4M | $38.3M | $21.9M | $25.3M | $29.4M | $22.7M | $26.6M | −$6.3M |
| EPS (diluted) | $0.68 | $0.72 | $0.75 | $0.73 | $0.29 | $0.56 | $0.59 | $0.28 | $0.26 | $0.98 |
| Gross margin | 32.7% | 35.2% | 31.4% | 30.3% | 31.1% | 33.3% | 33.4% | 33.1% | 32.8% | 32.3% |
| Operating margin | 6.7% | 6.3% | 6.3% | 5.2% | 3.0% | 4.2% | 5.3% | 3.0% | 2.3% | −6.1% |
| Net margin | 6.5% | 2.3% | 2.4% | 4.1% | 0.4% | 2.6% | 5.2% | −2.1% | −0.9% | −9.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $285.0M | $214.7M | $214.7M | $197.6M | $185.4M | $176.7M | $158.6M | $135.5M | $137.5M | $126.3M | $153.7M | $149.4M |
| Cost of revenue | $198.5M | $139.3M | $143.3M | $133.0M | $118.3M | $114.5M | $101.9M | $90.2M | $88.5M | $81.2M | $102.7M | $106.3M |
| Gross profit | $86.5M | $75.4M | $71.4M | $64.6M | $67.1M | $62.2M | $56.7M | $45.3M | $49.0M | $45.1M | $51.0M | $43.1M |
| Sales, general & admin | $63.9M | $51.3M | $51.3M | $47.0M | $48.8M | $53.5M | $41.1M | $34.3M | $36.5M | $34.9M | $36.9M | $30.4M |
| Total operating expenses | $119.6M | $58.8M | $53.7M | $55.2M | $49.0M | $292,000 | $45.4M | $38.1M | $39.8M | $37.4M | $36.9M | $35.3M |
| Operating income | −$33.2M | $16.5M | $17.7M | $9.4M | $18.1M | $61.9M | $11.3M | $7.2M | $9.3M | $7.7M | $14.1M | $7.9M |
| Interest expense | $9.1M | $4.7M | $4.7M | $5.1M | $4.9M | $6.2M | $3.7M | $2.6M | $3.3M | $3.4M | $3.9M | $3.3M |
| Income before taxes | −$44.6M | $10.9M | $10.9M | $2.3M | $14.6M | $55.1M | $5.5M | $4.1M | $5.3M | $2.8M | $9.8M | $4.3M |
| Income taxes | −$10.1M | $6.1M | $6.1M | $483,000 | $4.5M | $18.6M | $606,000 | $1.6M | $394,000 | $667,000 | $5.4M | $585,000 |
| Net income | −$34.8M | $3.1M | $3.1M | $1.5M | $9.5M | $36.0M | $4.9M | $2.1M | $4.5M | $1.5M | $3.9M | $3.3M |
| EBITDA | −$23.5M | $17.0M | $21.8M | $15.9M | $24.6M | $66.4M | $13.2M | $10.4M | $12.0M | $9.7M | $17.6M | $13.7M |
| EPS (diluted) | $0.47 | $0.36 | $0.08 | $0.26 | $0.24 | $0.10 | $0.27 | $0.14 | $0.20 | $0.11 | $0.28 | $0.22 |
| Gross margin | 30.3% | 35.1% | 33.3% | 32.7% | 36.2% | 35.2% | 35.8% | 33.4% | 35.7% | 35.7% | 33.2% | 28.9% |
| Operating margin | −11.6% | 7.7% | 8.2% | 4.8% | 9.7% | 35.0% | 7.1% | 5.3% | 6.7% | 6.1% | 9.2% | 5.3% |
| Net margin | −12.2% | 1.4% | 1.4% | 0.8% | 5.1% | 20.4% | 3.1% | 1.5% | 3.3% | 1.2% | 2.5% | 2.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CECO's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CECO financial results
In fiscal year 2025 (ended December 31, 2025), CECO Environmental reported revenue of $774.4 million, up 38.8% from the year before. It had net income of $50.1 million (up 286.3%), a net profit margin of 6.5%. Diluted earnings per share came to $0.68. Over five years revenue grew at an average rate of 19.6% a year.
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CECO income statement FAQ
What is CECO Environmental's annual revenue?
CECO Environmental reported total revenue of $774.4 million for fiscal year 2025, which ended on December 31, 2025. That was up 38.8% from $557.9 million the previous year.
Is CECO Environmental profitable?
Yes. CECO Environmental reported net income of $50.1 million in fiscal 2025, a net profit margin of 6.5%; its operating margin was 6.7%.
What is CECO Environmental's gross margin?
CECO Environmental's gross margin was 32.7% in fiscal 2025: for every $100 of revenue, CECO Environmental kept $33 after the direct cost of its products and services.
How fast is CECO Environmental growing?
Revenue grew 19.6% a year on average over the last five fiscal years, from $316.0 million to $774.4 million.
What are CECO Environmental's earnings per share?
CECO Environmental earned $0.68 per diluted share in fiscal 2025, compared with $0.72 a year earlier.
When will CECO Environmental report its next earnings?
CECO Environmental is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 before the market opens.
When does CECO Environmental's fiscal year end?
CECO Environmental's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.