XML 12 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales $ 135,513 $ 149,390 $ 399,367 $ 391,134
Cost of sales 90,247 106,269 259,921 273,303
Gross profit 45,266 43,121 139,446 117,831
Selling and administrative expenses 34,262 30,439 105,636 86,082
Amortization and earnout expenses 2,617 1,968 7,036 5,988
Acquisition and integration expenses 1,210 1,386 1,876 2,210
Executive transition expenses 0 1,258 0 1,417
Restructuring expenses (10) 217 544 217
Asbestos litigation expenses 0 0 225 0
Income from operations 7,187 7,853 24,129 21,917
Other expense, net (398) (216) (2,589) (670)
Interest expense (2,648) (3,340) (9,315) (9,498)
Income before income taxes 4,141 4,297 12,225 11,749
Income tax expense 1,602 585 2,664 1,577
Net income 2,539 3,712 9,561 10,172
Noncontrolling interest (453) (382) (1,482) (1,140)
Net income attributable to CECO Environmental Corp. $ 2,086 $ 3,330 $ 8,079 $ 9,032
Earnings per share:        
Basic $ 0.06 $ 0.1 $ 0.23 $ 0.26
Diluted $ 0.06 $ 0.09 $ 0.22 $ 0.26
Weighted average number of common shares outstanding:        
Basic 34,966,625 34,771,742 34,910,165 34,612,163
Diluted 36,488,788 35,301,429 36,322,690 35,215,843