EarningsQ2 2026 Earnings Report
CH:WCE Q2 2026 EPS Results
Actual EPSCHF0.39
Consensus EPSCHF0.21
Beat/MissBeat by +CHF0.18
One Year Ago EPSCHF0.20
CH:WCE Q2 2026 Revenue Results
Actual RevenueCHF237.45M
Expected RevenueCHF235.16M
Beat/MissBeat by +CHF2.29M
YoY Revenue Growth+53.71%
Earnings Announcement Details
QuarterQ2 2026
Date08/10/2026
TimeBefore Open
Conference CallMonday, August 10, 2026
CH:WCE Upcoming Earnings
Ceco Environmental's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:WCE Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based operating momentum: record orders, a rapidly growing backlog, robust pipeline, meaningful quarter-over-quarter and year-over-year revenue and EBITDA growth, early Thermon integration synergies, raised guidance, and strong cash generation. Key near-term challenges include acquisition-related one-time costs, a sizable increase in debt and leverage from the Thermon purchase (though management is actively de-levering and has available liquidity), partial rather than complete synergy realization to date, and timing uncertainty for some large industrial water projects due to geopolitical delays. On balance, the positives dominate with high-confidence revenue visibility and integration progress.Company Guidance
Record Orders and Backlog
Orders of $799 million in Q2 2026 (company record); quarter-end backlog of $1.82 billion, up 164% year-over-year and up 76% sequentially; backlog has increased 12 consecutive quarters and ~8.5x since end of 2021.
Strong Revenue and EBITDA Growth
Q2 revenue of $285 million, up 54% year-over-year (includes one full month of Thermon); adjusted EBITDA of $40.2 million, up 73% year-over-year, with adjusted EBITDA margin of ~14.1% (improvement of ~154 basis points YoY) — first quarter in mid-teen EBITDA margins.
Robust Pipeline and Book-to-Bill
Sales pipeline exceeds $8.5 billion; Q2 book-to-bill ~2.8x and trailing 12-month book-to-bill over 2.0; TTM bookings $1.81 billion (up 105% vs prior TTM).
Thermon Integration Early Synergies
Captured approximately $13 million of annualized net adjusted EBITDA savings in the first 60 days (about one-third of $40 million target); total cost-synergy equivalents of ~$19 million annualized; identified >100 commercial opportunities and initial cross-sell wins (>$500k of Thermon solutions already incorporated into CECO power projects).
Raised Full-Year Guidance
Increased 2026 consolidated revenue guidance to $1.3B–$1.375B (midpoint ~20% YoY growth) and raised low end of adjusted EBITDA outlook to $200M–$225M (included ~$5M of Thermon synergies for 2026); pro forma calendar-year incl. Thermon estimated revenue $1.5B–$1.6B and adjusted EBITDA $255M–$280M.
Improved Gross Margins and SG&A Efficiency
Adjusted gross profit margin improved to ~33.7% in the quarter (sequential increase of ~264 basis points) and TTM gross margin 33.2%; sales, engineering and G&A reduced to 22.4% of revenue (approximately 400 basis points YoY improvement).
Strong Cash Generation and Free Cash Flow
Q2 adjusted free cash flow of approximately $53 million (~132% of adjusted EBITDA); year-to-date adjusted free cash flow ~$38 million (63% of adjusted EBITDA); trailing 12-month cash flow as a percentage of EBITDA ~58% (above 55% target).
Commercial Opportunity Breadth and Market Demand
Demand across diverse end markets (power generation, semiconductor, LNG/gas infrastructure, industrial water, data centers via Thermon); power generation accounts for ~50% of backlog; management sees sustained double-digit organic growth and a high-confidence order environment.
CH:WCE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed