Filing Flows › Ceco Environmental (CECO) › Q4 2025
Ceco Environmental (CECO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Ceco Environmental (CECO) reported revenue of $215M for the fourth quarter 2025 (Q4 2025), +35% from a year earlier and +9% from the quarter before. Operating margin was 7.7%, net earnings $3.1M (1.4% of revenue).
Ceco Environmental, Q4 2025: revenue $215M (+35% year over year), operating margin 7.7%, net earnings $3.1M, operating cash flow $10.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $215M | +9% | +35% |
| Gross profit | $75.4M | +17% | +33% |
| Operating profit | $16.5M | +76% | +47% |
| Net earnings | $3.1M | +104% | -37% |
| Operating cash flow | $10.0M | -35% | +445% |
| Free cash flow | $8.7M | — | — |
What changed
Revenue was $214.7M in Q4 2025, up 35% year over year and up 9% from the previous quarter.
Gross margin was 35.1%, down 0.6 points from Q4 2024. Operating profit was $16.5M, a 7.7% margin (up 0.6 points year over year). Of the extra revenue versus Q4 2024, 9% reached operating profit, above the 7% margin then. Operating expenses grew 30% against revenue growth of 35%. The fastest-growing cost line was Other operating costs (+72%). Net earnings were $3.1M, down 37% year over year. The effective tax rate was 56.3%.
Operating cash flow was $10.0M (up 445% year over year), 210% of net income including minority interests. Non-cash charges added back $6.2M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items used $4.5M. After acquisitions of property and equipment, net ($1.3M), free cash flow as the company reports it was $8.7M.
Questions
What was Ceco Environmental's revenue in the fourth quarter 2025?
Ceco Environmental (CECO) reported revenue of $215M for the fourth quarter 2025 (Q4 2025), +35% from a year earlier and +9% from the quarter before.
Was Ceco Environmental profitable in the fourth quarter 2025?
Operating profit was $16.5M (7.7% of revenue) and net earnings $3.1M.
Source: Ceco Environmental 10-K on SEC EDGAR.