CECO Environmental Corp. filed its quarterly report on Form 10-Q with the SEC on August 10, 2026, covering the three and six months ended June 30, 2026, and disclosing a significant acquisition-driven expansion of its balance sheet alongside net losses attributable to acquisition and integration costs.

Key Highlights

  • Net loss of $34,768 thousand attributable to CECO Environmental for Q2 2026, compared to net income of $9,510 thousand in Q2 2025, according to the filing.
  • Net sales of $284,961 thousand for the three months ended June 30, 2026, up from $185,391 thousand in the same period of 2025.
  • Acquisition and integration expense of $45,461 thousand was recorded in Q2 2026, versus $32 thousand in Q2 2025.
  • Total assets grew to $3,733,571 thousand at June 30, 2026, from $893,769 thousand at December 31, 2025, driven primarily by goodwill of $1,501,199 thousand and finite-life intangible assets of $999,431 thousand.
  • 22,531 thousand shares of common stock were issued in connection with business combinations during Q2 2026, raising capital in excess of par value by $1,792,365 thousand.
  • Shares outstanding increased to 58,444,845 at June 30, 2026, from 35,644,537 at December 31, 2025.
  • Basic and diluted loss per share of $(0.80) for Q2 2026, compared to basic earnings per share of $0.27 and diluted earnings per share of $0.26 in Q2 2025.

CECO Environmental's Q2 2026 Acquisition Activity and Financial Impact

CECO Environmental Corp. (NASDAQ: CECO), headquartered in Addison, Texas, reported that net sales for the three months ended June 30, 2026 reached $284,961 thousand, a substantial increase from $185,391 thousand in the prior-year period. For the six months ended June 30, 2026, net sales totaled $490,880 thousand, compared to $362,088 thousand for the same period in 2025. Gross profit for Q2 2026 was $86,468 thousand, up from $67,108 thousand in Q2 2025, according to the filing.

The company reported a loss from operations of $33,178 thousand in Q2 2026, compared to income from operations of $18,061 thousand in Q2 2025. The filing attributes a significant portion of this swing to acquisition and integration expense of $45,461 thousand in the second quarter of 2026, versus $32 thousand in the same quarter of 2025. For the six-month period, acquisition and integration expense totaled $55,742 thousand in 2026, compared to $8,175 thousand in 2025. Interest expense also rose to $9,102 thousand in Q2 2026 from $4,898 thousand in Q2 2025, the filing disclosed. Debt, less current portion, stood at $711,065 thousand at June 30, 2026, up from $210,559 thousand at December 31, 2025.

The balance sheet reflects the scale of acquisition activity during the period. Total assets increased to $3,733,571 thousand at June 30, 2026 from $893,769 thousand at December 31, 2025. The filing shows goodwill of $1,501,199 thousand and finite-life intangible assets of $999,431 thousand at quarter-end, compared to $288,163 thousand and $96,966 thousand, respectively, at year-end 2025. Shareholders' equity attributable to CECO grew to $2,075,858 thousand from $317,528 thousand, driven largely by the issuance of common stock in connection with business combinations. Cash and cash equivalents were $61,066 thousand at June 30, 2026, up from $33,144 thousand at December 31, 2025. As of August 3, 2026, the company reported 58,569,830 shares of common stock outstanding.

What Was Disclosed

CECO Environmental filed its Form 10-Q for the quarter ended June 30, 2026, disclosing a net loss attributable to the company of $34,768 thousand for Q2 2026, a major increase in total assets to $3,733,571 thousand, and substantial acquisition and integration expenses tied to business combination activity during the period.