CECO Environmental Corp. (CECE) financial statements (2022 and earlier)

Company profile

Business Address 14651 NORTH DALLAS PARKWAY
DALLAS, TX 75254
State of Incorp. DE
Fiscal Year End December 31
SIC 3564 - Industrial and Commercial Fans and Blowers and Air Purification Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments29,90235,99235,60243,67629,90245,82434,194
Cash and cash equivalents29,90235,99235,60243,67629,90245,82434,194
Restricted cash and investments2,0931,8191,356762   
Receivables74,99163,04668,43453,22567,99083,06297,778
Inventory, net of allowances, customer advances and progress billings17,05217,34320,57820,81720,96921,48732,509
Inventory17,05217,34320,57820,81720,96921,48732,509
Prepaid expense2,7847,790 1,3881,9301,5904,724
Contract with customer, asset51,42945,49834,80529,694
Disposal group, including discontinued operation 4675931,1867,8537,8341,699
Costs in excess of billings33,94738,12343,175
Other undisclosed current assets10,76011,53018,13010,11711,35115,05814,377
Total current assets:189,011183,485179,498160,865173,942212,978228,456
Noncurrent Assets
Finance lease, right-of-use asset2,6192,947 
Operating lease, right-of-use asset10,89311,37613,607
Property, plant and equipment15,94816,22815,27422,20023,40027,27044,981
Intangible assets, net (including goodwill)196,653204,394197,594206,373236,598252,923321,457
Goodwill161,183161,820152,020152,156166,951170,153220,163
Intangible assets, net (excluding goodwill)35,47042,57445,57454,21769,64782,770101,294
Other undisclosed noncurrent assets1,0738842,6643,1444,6095,4633,925
Total noncurrent assets:227,186235,829229,139231,717264,607285,656370,363
TOTAL ASSETS:416,197419,314408,637392,582438,549498,634598,819
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:84,08184,99778,31980,22970,78695,61099,097
Accounts payable56,24255,89948,76251,98445,40958,98562,199
Accrued liabilities3,0744,0904,6643,3844,46414,86614,057
Employee-related liabilities6,0655,0795,7127,5785,2468,2327,899
Taxes payable1,493543 1,813 1,5361,582
Interest and dividends payable      185
Other undisclosed accounts payable and accrued liabilities17,20719,38619,18115,47015,66711,99113,175
Deferred revenue28,90820,69134,369
Debt2,8033,1252,5002,17811,7979,29719,494
Billings in excess of cost20,46935,08528,000
Contract with customer, liability20,144
Other undisclosed current liabilities893543 1,3354,7996,3661,582
Total current liabilities:116,685109,356115,188103,886107,851146,358148,173
Noncurrent Liabilities
Long-term debt and lease obligation70,33978,80174,11774,456103,537114,366157,834
Long-term debt, excluding current maturities61,57769,49163,00174,456103,537114,366157,834
Operating lease, liability8,7629,31011,116
Liabilities, other than long-term debt23,21627,54620,37235,68040,59247,82847,791
Deferred tax liabilities, net8,75510,21012,96417,719
Deferred income tax liabilities8,3906,970 
Other liabilities14,82620,57620,37226,92530,38234,86430,072
Other undisclosed noncurrent liabilities  5,943    
Total noncurrent liabilities:93,555106,347100,432110,136144,129162,194205,625
Total liabilities:210,240215,703215,620214,022251,980308,552353,798
Stockholders' equity
Stockholders' equity attributable to parent204,554202,658193,017178,560186,569190,082239,153
Common stock350355353349347343340
Treasury stock, value (356)(356)(356)(356)(356)(356)
Additional paid in capital252,989255,296253,869251,409248,170244,878243,274
Accumulated other comprehensive loss(12,070)(14,496)(14,505)(13,415)(8,919)(13,042)(9,577)
Retained earnings (accumulated deficit)(36,715)(38,141)(46,344)(59,427)(52,673)(41,741)5,472
Stockholders' equity attributable to noncontrolling interest1,403953    5,868
Total stockholders' equity:205,957203,611193,017178,560186,569190,082245,021
TOTAL LIABILITIES AND EQUITY:416,197419,314408,637392,582438,549498,634598,819

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues324,140316,011341,869337,339345,051417,011367,422
Revenue, net345,051417,011367,422
Cost of revenue
(Cost of Goods and Services Sold)
(223,218)(210,883)(227,770)(225,802)(231,857)(282,152)(258,251)
Gross profit:100,922105,128114,099111,537113,194134,859109,171
Operating expenses(91,036)(89,410)(96,109)(101,535)(105,170)(160,421)(104,222)
Other undisclosed operating loss(29)(2,372)     
Operating income (loss):9,85713,34617,99010,0028,024(25,562)4,949
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
2,2312,033751(365)106310(2,081)
Interest and debt expense(2,952)(3,535)(5,397)(7,140)(6,721)(7,712)(5,964)
Income (loss) from continuing operations before equity method investments, income taxes:9,13611,84413,3442,4971,409(32,964)(3,096)
Other undisclosed loss from continuing operations before income taxes(4,462)      
Income (loss) from continuing operations before income taxes:4,67411,84413,3442,4971,409(32,964)(3,096)
Income tax expense (benefit)(2,691)(3,672)4,363(9,618)(4,438)(5,290)(2,638)
Net income (loss):1,9838,17217,707(7,121)(3,029)(38,254)(5,734)
Net income attributable to noncontrolling interest55739   36132
Other undisclosed net loss attributable to parent(1,114)      
Net income (loss) available to common stockholders, diluted:1,4268,21117,707(7,121)(3,029)(38,218)(5,602)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):1,9838,17217,707(7,121)(3,029)(38,254)(5,734)
Other comprehensive income (loss)8668026617(48)53204
Other undisclosed comprehensive income (loss)1,560(793)(1,167)(3,821)4,171(3,518)(3,160)
Comprehensive income (loss):4,4098,18116,606(10,925)1,094(41,719)(8,690)
Comprehensive income, net of tax, attributable to noncontrolling interest55739   36132
Comprehensive income (loss), net of tax, attributable to parent:4,9668,22016,606(10,925)1,094(41,683)(8,558)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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