CECO Environmental Corp. (NASDAQ: CECO) stock soared 5.26% on Wednesday, February 26th, 2025, following the release of the company's fourth-quarter 2024 earnings report and a positive outlook for 2025. The surge in the stock price reflects the market's optimism about CECO's strong performance and growth prospects.
The company reported record bookings for both Q4 2024 and the full year, with Q4 orders reaching $219 million, a remarkable 71% increase year-over-year. CECO's full-year orders stood at $667 million, up in the mid-teens compared to the previous year. This robust order momentum contributed to a backlog of $541 million, a 46% increase from the previous year-end, providing strong visibility into 2025 revenue.
CECO's management reaffirmed its 2025 guidance, projecting revenue between $700 million and $750 million, representing a 30% growth rate year-over-year at the midpoint. Additionally, the company expects adjusted EBITDA to range from $90 million to $100 million, a 50% increase versus 2024 at the midpoint. Analysts from firms like Roth MKM, H.C. Wainwright, and Needham maintained their "Buy" or "Hold" ratings on CECO, citing the company's strong performance and positive outlook.
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