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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 32,787 $ 37,832
Restricted cash 86 369
Accounts receivable, net of allowances of $8,497 and $8,863 159,615 159,572
Costs and estimated earnings in excess of billings on uncompleted contracts 109,826 69,889
Inventories 57,712 42,624
Prepaid expenses and other current assets 29,110 16,859
Prepaid income taxes 6,344 3,826
Total current assets 395,480 330,971
Property, plant and equipment, net 48,037 33,810
Right-of-use assets from operating leases 27,679 25,102
Goodwill 292,262 269,747
Intangible assets – finite life, net 100,986 74,050
Intangible assets – indefinite life 9,715 9,466
Deferred income taxes 1,162 966
Deferred charges and other assets 16,563 15,587
Total assets 891,884 759,699
Current liabilities:    
Current portion of debt 1,928 1,650
Accounts payable 127,576 109,671
Accrued expenses 60,632 47,528
Billings in excess of costs and estimated earnings on uncompleted contracts 107,361 81,501
Notes payable 0 1,700
Income taxes payable 793 2,612
Total current liabilities 298,290 244,662
Other liabilities 3,194 14,362
Debt, less current portion 218,980 217,230
Deferred income tax liability, net 34,571 11,322
Operating lease liabilities 23,282 20,230
Total liabilities 578,317 507,806
Commitments and contingencies (See Note 14)
Shareholders’ equity:    
Preferred stock, $0.01 par value; 10,000 shares authorized, none issued 0 0
Common stock, $0.01 par value; 100,000,000 shares authorized, 35,641,031 and 34,978,009 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 355 349
Capital in excess of par value 265,786 255,211
Retained earnings 53,563 6,570
Accumulated other comprehensive loss (10,498) (14,441)
Total CECO shareholders' equity 309,206 247,689
Non-controlling interest 4,361 4,204
Total shareholders' equity 313,567 251,893
Total liabilities and shareholders' equity $ 891,884 $ 759,699