Ceco environmental reports second quarter 2023 results

Record orders, revenue, backlog, gross profit and adjusted ebitda company raises full year 2023 outlook dallas , aug. 8, 2023 /prnewswire/ -- ceco environmental corp. (nasdaq: ceco) ("ceco"), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the second quarter of 2023. highlights for the quarter (1) orders of $162.9 million, up 44 percent; record backlog of $391.0 million, up 35 percent revenue of $129.2 million, up 23 percent; net income of $3.7 million, compared to $4.4 million; non-gaap net income of $5.2 million, compared to $6.4 million gaap eps (diluted) of $0.11, compared to $0.13; non-gaap eps (diluted) of $0.15, compared to $0.18 gross profit of $39.8 million, up 26 percent to 30.8 percent, up 70 bps adjusted ebitda of $13.7 million, up 29 percent book-to-bill ratio of 1.26 (1)  all comparisons are versus the comparable prior year period, unless otherwise stated.
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