CECO环保 2026年季度报告

(Mark one)Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☒For the quarterly period ended March 31, 2026or CECO ENVIRONMENTAL CORP. (Exact name of registrant as specified in its charter) Delaware(State or other jurisdiction ofIncorporation or organization)5080 Spectrum DriveSuite 800EAddison, Texas(Address of principal executive offices) 13-2566064(IRS EmployerIdentification No.) Registrant’s telephone number, including area code: (214) 357-6181 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒The number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practical date: 35,873,031 shares ofcommon stock, par value $0.01 per share, as of April 17, 2026. CECO ENVIRONMENTAL CORP.QUARTERLY REPORT ON FORM 10-QFor the quarter ended March 31, 2026 Table of Contents Part I –Financial Information2Item 1. Financial Statements (unaudited)2Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 20252Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 20253Condensed Consolidated Statements of Comprehensive (Loss) Income for the three months ended March 31, 2026and 20254Condensed Consolidated Statements of Shareholders’ Equity for the three months ended March 31, 2026 and 20255Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 20256Notes to Condensed Consolidated Financial Statements7Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3. Quantitative and Qualitative Disclosures about Market Risk29Item 4. Controls and Procedures29Part II –Other Information31Item 1. Legal Proceedings31Item 1A. Risk Factors31Item 2. Unregistered Sales of Equity Securities and Use of Proceeds31Item 3. Defaults Upon Senior Securities31Item 4. Mine Safety Disclosures31Item 5. Other Information31Item 6. Exhibits32Signatures33 CONDENSED CONSOLIDATED BALANCE SHEETS(unaudited) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited) Three months ended March 31,(in thousands, except share and per share data)20262025Net sales$205,919$176,697Cost of sales142,000114,535Gross profit63,91962,162Selling and administrative expense46,09153,542Amortization expense4,0033,096Acquisition and integration expense10,2808,143Gain on sale of Global Pump Solutions business—(64,502)Other operating expense1,67013Income from operations1,87561,870Other expense1,392594Interest expense4,2306,217(Loss) income before income taxes(3,747)55,059Income tax (benefit) expense(3,499)18,617Net (loss) income(248)36,442Noncontrolling interest150458Net (loss) income attributable to CECO Environmental Corp.$(398)$35,984Loss (earnings) per share:Basic$(0.01)$1.03Diluted$(0.01)$0.98Weighted average number of common shares outstanding:Basic35,690,81335,028,301Diluted35,690,81336,689,320 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME(unaudited) CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY(unaudited) The notes to the condensed consolidated financial statements are an integral part of the above statements. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited) CECO ENVIRONMENTAL CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited) 1.Basis of Reporting for Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements of CECO Environmental Corp. and its subsidiaries (the“Company,” “CECO,” “we,” “us,” or “our”) hav