Recent Updates — CECO

CECO Environmental Corp. announced that its Board of Directors has approved the voluntary transfer of its common stock's primary listing from the Nasdaq Global Select Market to the Texas Stock Exchange (TXSE). Trading on Nasdaq is expected to cease at market close on October 16, 2026, with trading on TXSE beginning at market open on October 19, 2026. The stock will retain its ticker symbol "CECO" and existing CUSIP. Management stated the move aligns the company with Texas as a growing center for business and capital markets, noting it does not affect operations or reporting obligations. CECO Environmental is a leading environmentally focused diversified industrial company providing solutions to protect people, the environment, and industrial equipment in air, water, and energy transition markets.

CECO Environmental Corp. reported second quarter 2026 financial results following the June 1, 2026 acquisition of Thermon. Revenue increased 54 percent to $285.0 million, while orders surged 191 percent to $798.5 million and backlog rose 164 percent to $1,819.1 million. The company reported a GAAP net loss of $(34.8) million compared to prior-year income of $9.5 million, but non-GAAP net income reached $21.5 million. Adjusted EBITDA grew 73 percent to $40.2 million. CECO raised its full-year 2026 revenue guidance to between $1.300 billion and $1.375 billion and adjusted EBITDA guidance to between $200 million and $225 million, citing strong integration synergies from the Thermon acquisition. The company operates in the environmentally focused diversified industrial sector, providing solutions for air, water, and energy transition markets.

CECO Environmental Corp. filed an amendment to its Form 8-K to include unaudited pro forma condensed combined financial information required by Item 9.01(b), which was omitted from the original report filed on June 1, 2026. The original filing reported the completion of CECO's acquisition of Thermon Group Holdings Inc., consummated on June 1, 2026, pursuant to a stock-and-cash merger agreement dated February 23, 2026. Consideration for Thermon shareholders included cash ($63.89), CECO common stock (0.8110 shares), or a mix of both (0.6840 shares plus $10.00). The transaction was funded using approximately $525 million in new debt, comprising a $235 million incremental term loan and roughly $290 million from the existing revolving credit facility. Pro forma results for the year ended December 31, 2025, show combined net sales of $1.3 billion and pro forma net loss attributable to CECO of $20.2 million. CECO Environmental Corp. operates in the environmental technology industry, providing air pollution control systems and services.

CECO Environmental Corp. issued a press release on June 9, 2026, providing an updated full-year 2026 outlook that incorporates the impact of the acquisition of Thermon Group Holdings, Inc. CECO Environmental Corp. provides environmental and industrial technology solutions.