Filing Flows › Ceco Environmental (CECO) › Q3 2025
Ceco Environmental (CECO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Ceco Environmental (CECO) reported revenue of $198M for the third quarter 2025 (Q3 2025), +46% from a year earlier and +7% from the quarter before. Operating margin was 4.8%, net earnings $1.5M (0.8% of revenue).
Ceco Environmental, Q3 2025: revenue $198M (+46% year over year), operating margin 4.8%, net earnings $1.5M, operating cash flow $15.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $198M | +7% | +46% |
| Gross profit | $64.6M | -4% | +43% |
| Operating profit | $9.4M | -48% | +31% |
| Net earnings | $1.5M | -84% | -28% |
| Operating cash flow | $15.3M | — | +1% |
| Free cash flow | $11.0M | — | -0.7% |
What changed
Revenue was $197.6M in Q3 2025, up 46% year over year and up 7% from the previous quarter.
Gross margin was 32.7%, down 0.7 points from a year earlier. Operating profit was $9.4M, a 4.8% margin (down 0.5 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, below the 5% margin then. Operating expenses grew 45% against revenue growth of 46%. The fastest-growing cost line was Other operating costs (+113%). Net earnings were $1.5M, down 28% year over year. The effective tax rate was 21.1%.
Operating cash flow was $15.3M (up 1% year over year), 845% of net income including minority interests. Non-cash charges added back $8.6M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $4.2M left free cash flow of $11.0M.
Questions
What was Ceco Environmental's revenue in the third quarter 2025?
Ceco Environmental (CECO) reported revenue of $198M for the third quarter 2025 (Q3 2025), +46% from a year earlier and +7% from the quarter before.
Was Ceco Environmental profitable in the third quarter 2025?
Operating profit was $9.4M (4.8% of revenue) and net earnings $1.5M.
Source: Ceco Environmental 10-Q on SEC EDGAR.