Ceco Environmental Corp. · NASDAQ:CECO
Ceco Environmental — Lake Street Big Ideas Growth Conference 2025
23 slides from Ceco Environmental's conference presentation, Sep 11, 2025
Slide 1: Lake Street Big Ideas Growth Conference
Lake Street Big Ideas Growth Conference New York City September 11, 2025
Slide 2: Forward-looking statements and Non-GAAP information
Forward-looking statements and Non-GAAP information This presentation contains forward-looking statements with predictions, projections and other statements about future events. These statements are made on the basis of management’s views and assumptions regarding future events and business performa
Slide 3: CECO Environmental ... Mission Critical Solutions
CECO Environmental ... Mission Critical Solutions … We Protect People Solving customer challenges to ensure their employees work in a safe and productive work environment We Protect The Environment We minimize our environmental impact and help our global customers do the same We Protect Industrial E
Slide 4: About CECO
About CECO CECO
Slide 5: Building The Leading, Global, Sustainable Industrial Environmental Solutions Company
CECO Environmental Building The Leading, Global, Sustainable Industrial Environmental Solutions Company Sustainable Value Leading Businesses Creation • Balanced, Niche Leadership Positions • Focused Capital Allocation Model o Industrial Air o Invest in Organic Growth / Expansion o Industrial Water (
Slide 6: Providing Environmental Solutions for Industry
CECO Environmental ... 100% Providing Environmental Solutions for Industry Diversified Industrials Energy Transition / Power 100% Industrial o General Industrial o EV & Battery Production o Beverage Can Production o Food & Beverage Production o Metals Processing o Gas-fired Power Generation o Datace
Slide 7: Global Company To Serve Global Opportunities
CECO Environmental ... Global Company To Serve Global Opportunities Global HQ: Dallas, TX Sales, Engineering & Admin Manufacturing & Assembly ❑ ~1,600 Employees worldwide ❑ ~40% Sales Outside of US 7
Slide 8: Building Our Sales / Growth Pipeline Continues to Be Sustainable Growth Predictor
Building Our Sales / Growth Pipeline* Continues to Be Sustainable Growth Predictor *Pipeline is defined as Total Active Order Pursuits for Next ~ 18 Months Power – Energy Market Drivers: Power Demand, Electrification, Computing / AI, LNG, Nuclear, Geothermal Building Our Sales / *Growth Pipeline* Co
Slide 9: Focused Capital Deployment For Growth
CECO Environmental ... Focused Capital Deployment For Growth … Capital Allocation Strategy Investment Drivers Organic Growth Programs / Investments • Sales Team, Engineers and Project Managers • CapEx: Biz. Growth, ERP Migration, Cybersecurity Stock Organic Buybacks Growth & M&A Transactions CapEx •
Slide 10: Delivering Sustainable, Shareholder Value
1 Since 12/31/2021 Delivering Sustainable, Shareholder Value 1 *2025 as of Aug 13th End of Day CECO Up Russell 2000 S&P 500 Approx. 600%* Up 4%* Up 36%* $46.05* $30.23 $20.28 $11.68 Y/E Stock Price: $6.23 2021 2022 2023 2024 2025 Market Cap: $225M $420M $730M $1.1B $1.7B 10
Slide 11: Delivering Strong Results While Transforming
CECO Environmental ... Delivering Strong Results While Transforming …. ($MM) Orders Revenue Adj. EBITDA YE ‘24 Backlog > $540M More Short-Cycle Business Mix Margin Expansion 300+ bps Backlog 3-year CAGR +36% Global Diversity Adds Balance More Productivity in 2024 and Growing B-2-B Consistently > 1.0
Slide 12: Recent Financials and Outlook
Recent Financials and Outlook 12
Slide 13: Q2 Summary
Demand Environment is Very Robust • Pipeline of $5.5B+ up ~ $1B YoY • Strong customer engagement • Limited impact from trade and geopolitical tensions Strong Q2 and 1H Performance Q2 Summary • +76% Backlog, +95% Orders, +35% Revenue • +45% Adj EBITDA, > 36% Gross Profit Margin CECO Environmental Upd
Slide 14: 1st Half 2025 Highlights
1st Half 2025 Highlights 1H’25 Financials / Portfolio Sales Pipeline Macro Environment • 1H Bookings ~ $502M up 76% YoY; • Highest-Ever Sales Pipeline of • Power Generation, Gas Infrastructure Book-to-Bill ~ 1.4x opportunities, > $5.5-billion and Semiconductor markets remain incredibly robust • Q2 P
Slide 15: FY'2025 Guidance
FY’2025 Guidance ($MM) April ’25 FY View Current Outlook Assumptions Orders Orders/B-2-B (book to bill) 1.0 – 1.1X > 1.2X • Raising B2B Outlook • ~ $0.5B bookings in 1H with record pipeline Revenue Revenue 700 – 750 725 – 775 • Raising ~ $25M given expected 2H conversion • Up ~35% YoY … with 20% Org
Slide 16: Appendix
Appendix 2 Supplemental Data and Non-GAAP Reconciliation Tables CECO Company Confidential 16
Slide 17: Q2'25 and TTM Financial Performance
Q2’25 and TTM Financial Performance TTM = Trailing 12 Month Q2’25 YoY Q2 TTM YoY Highlights Backlog $688M 76% $688M 76% • Record Backlog ... Strong bookings in PowerGen, Semicon, Water, and Nat Gas (LNG, Midstream) • Record Orders … up ~ $133M YoY and ~ $46M / 20% sequentially Orders $274M 95% $883M
Slide 18: Revenue Excluding Acquisitions
Revenue Excluding Acquisitions NOTE: Amounts are computed independently each quarter. Accordingly, the sum of each quarter’s amounts may not equal the total amounts for the respective year. 18
Slide 19: Non-GAAP Operating Income and Margin
Non-GAAP Operating Income and Margin NOTE: Amounts are computed independently each quarter. Accordingly, the sum of each quarter’s amounts may not equal the total amounts for the respective year. 19
Slide 20: Non-GAAP Net Income, Adjusted EBITDA, and Margin
Non-GAAP Net Income, Adjusted EBITDA, and Margin NOTE: Amounts are computed independently each quarter. Accordingly, the sum of each quarter’s amounts may not equal the total amounts for the respective year. 20
Slide 21: Adjusted Free Cash Flow
Adjusted Free Cash Flow * NOTE: Amounts are computed independently each quarter. Accordingly, the sum of each quarter’s amounts may not equal the total amounts for the respective year. * Other Adjustment: excluding tax payments related to tax gain on the divestiture of GPS business in Q1 2025. Payme
Slide 22: Tariff Environment – Current State and Mitigation Actions
Tariff Environment – Current State and Mitigation Actions ‒ Existing U.S. supply capacity addresses meaningful ‒ Continuing to develop new sources of U.S. capacity and U.S. Capacity portion of U.S. demand strengthen supply chain capabilities ‒ Selective insourcing to existing CECO facility ‒ Majorit
Slide 23: Tariff Outlook for the Remainder of 2025
Tariff Outlook for the Remainder of 2025 ($MM) * Estimated impacts as of April 28, 2025 Ongoing Mitigations Category Gross Impact * Headcount & Process Optimization ~ $3 Supply Chain Efficiencies $0 – 2 Other Actions $0 – 1 Materials $1 – 2 Pricing Pass Thru Cost TBD Total Actions Identified $3 – 6
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