CECO ENVIRONMENTAL CORP
For the period ended Dec 31, 2023. Filed Mar 5, 2024.
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FY2023 · Filed Mar 5, 2024
CECO$51.83-0.3%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
| Year Ended December 31, | |||
|---|---|---|---|
| (dollars in thousands, except share and per share data) | 2023 | 2022 | 2021 |
| Net sales | $544,845 | $422,627 | $324,140 |
| Cost of sales | 373,829 | 294,402 | 223,218 |
| Gross profit | 171,016 | 128,225 | 100,922 |
| Selling and administrative expenses | 122,944 | 93,473 | 81,797 |
| Amortization and earnout expenses | 8,180 | 6,809 | 7,789 |
| Acquisition and integration expenses | 2,508 | 4,546 | 818 |
| Executive transition expenses | 1,465 | 1,161 | 29 |
| Restructuring expenses | 1,350 | 75 | 632 |
| Income from operations | 34,569 | 22,161 | 9,857 |
| Other income (expense), net | 372 | 6,947 | (2,231) |
| Interest expense | (13,416) | (5,419) | (2,952) |
| Income before income taxes | 21,525 | 23,689 | 4,674 |
| Income tax expense | 7,024 | 5,426 | 2,691 |
| Net income | 14,501 | 18,263 | 1,983 |
| Noncontrolling interest | (1,590) | (846) | (557) |
| Net income attributable to CECO Environmental Corp. | $12,911 | $17,417 | $1,426 |
| Income per share: | |||
| Basic | $0.37 | $0.50 | $0.04 |
| Diluted | $0.37 | $0.50 | $0.04 |
| Weighted average number of common shares outstanding: | |||
| Basic | 34,665,473 | 34,672,007 | 35,345,785 |
| Diluted | 35,334,090 | 35,005,159 | 35,594,779 |
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