v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 36,823 $ 37,832
Restricted cash 86 369
Accounts receivable, net allowances of $8,993 and $8,863 161,498 159,572
Costs and estimated earnings in excess of billings on uncompleted contracts 91,262 69,889
Inventories 59,792 42,624
Prepaid expenses and other current assets 29,682 16,859
Prepaid income taxes 3,856 3,826
Total current assets 382,999 330,971
Property, plant and equipment, net 46,618 33,810
Right-of-use assets from operating leases 24,903 25,102
Goodwill 288,043 269,747
Intangible assets – finite life, net 106,871 74,050
Intangible assets – indefinite life 9,666 9,466
Deferred income taxes 293 966
Deferred charges and other assets 17,189 15,587
Total assets 876,582 759,699
Current liabilities:    
Current portion of debt 1,857 1,650
Accounts payable 125,971 109,671
Accrued expenses 53,950 47,528
Billings in excess of costs and estimated earnings on uncompleted contracts 93,045 81,501
Notes payable 1,700 1,700
Income taxes payable 8,512 2,612
Total current liabilities 285,035 244,662
Other liabilities 3,137 14,362
Debt, less current portion 236,877 217,230
Deferred income tax liability, net 28,567 11,322
Operating lease liabilities 19,747 20,230
Total liabilities 573,363 507,806
Commitments and contingencies (See Note 14)
Shareholders’ equity:    
Preferred stock, $.01 par value; 10,000 shares authorized, none issued 0 0
Common stock, $.01 par value; 100,000,000 shares authorized, 35,307,944 and 34,978,009 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 352 349
Capital in excess of par value 258,466 255,211
Retained earnings 52,064 6,570
Accumulated other comprehensive loss (12,518) (14,441)
Total CECO shareholders' equity 298,364 247,689
Non-controlling interest 4,855 4,204
Total shareholders' equity 303,219 251,893
Total liabilities and shareholders' equity $ 876,582 $ 759,699