CECO ENVIRONMENTAL CORP (CECE) [Rocket]

In millions, except per share items	Dec-31-22	Dec-05-22	Dec-31-21	Dec-05-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17
	10-K	8-K	10-K	8-K	10-K	10-K	10-K	10-K
Total revenues	422.6	422.6	324.1	324.1	316.0	341.9	337.3	345.1
Revenue growth	30.4%	30.4%	2.6%		-7.6%	1.3%	-2.2%	-17.3%
Cost of goods sold	294.4	294.4	223.2	223.2	210.9	227.8	225.8	231.9
Gross profit	128.2	128.2	100.9	100.9	105.1	114.1	111.5	113.2
Gross margin	30.3%	30.3%	31.1%	31.1%	33.3%	33.4%	33.1%	32.8%
Selling, general and administrative		93.5		81.8	0.9		87.5	89.0
Other operating expenses		8.0		7.8	-0.8		9.7	7.1
EBITDA [+]	138.8	37.4	110.8	21.2	115.0	124.7	27.7	33.2
EBITDA growth	25.3%	76.7%	-3.7%		-7.7%	350.8%	-16.6%	-35.9%
EBITDA margin	32.9%	8.8%	34.2%	6.5%	36.4%	36.5%	8.2%	9.6%
Depreciation	3.6	10.6	3.2	9.9	2.5	2.1	13.3	4.6
EBITA	135.2	26.8	107.6	11.3	112.5	122.6	14.4	28.6
EBITA margin	32.0%	6.3%	33.2%	3.5%	35.6%	35.9%	4.3%	8.3%
Amortization of intangibles	7.0		6.7		7.4	8.5		11.5
EBIT [+]	128.2	26.8	100.9	11.3	105.1	114.1	14.4	17.1
EBIT growth	27.1%	136.9%	-4.0%		-7.9%	692.8%	-15.8%	-48.0%
EBIT margin	30.3%	6.3%	31.1%	3.5%	33.3%	33.4%	4.3%	5.0%
Non-recurring items [+]		4.6		1.5	0.9		4.4	9.1
Asset impairment					0.9			7.2
Restructuring charges		4.6		1.5				1.9
Interest expense		5.4		3.0			7.1	6.7
Interest expense		5.4		3.0			7.1	6.7
Other income (expense), net [+]	-104.5	6.9	-96.2	-2.2	-92.4	-100.8	-0.4	0.1
Other							-0.4	0.1
Pre-tax income	23.7	23.7	4.7	4.7	11.8	13.3	2.5	1.4
Income taxes	5.4	5.4	2.7	2.7	3.7	-4.4	9.6	4.4
Tax rate	22.9%	22.9%	57.6%	57.6%	31.0%		385.2%	315.0%
Net income	17.4	18.3	1.4	2.0	8.2	17.7	-7.1	-3.0
Net margin	4.1%	4.3%	0.4%	0.6%	2.6%	5.2%	-2.1%	-0.9%

Basic EPS [+]	$0.50	$0.53	$0.04	$0.06	$0.23	$0.51	($0.21)	($0.09)
Growth	1145.1%	838.9%	-82.7%		-54.0%	-346.7%	133.3%	-92.2%
Diluted EPS [+]	$0.50	$0.52	$0.04	$0.06	$0.23	$0.50	($0.21)	($0.09)
Growth	1142.0%	836.5%	-82.7%		-53.7%	-343.3%	133.3%	-92.2%

Dividends per share [+]								$0.23
Growth							-100.0%	-14.5%

Shares outstanding (basic) [+]	34.7	34.7	35.3	35.3	35.3	35.0	34.7	34.4
Growth	-1.9%	-1.9%	0.2%		0.9%	0.8%	0.8%	1.4%
Shares outstanding (diluted) [+]	35.0	35.0	35.6	35.6	35.5	35.5	34.7	34.4
Growth	-1.7%	-1.7%	0.2%		0.1%	2.2%	0.8%	1.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.