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Goodwill and Intangible Assets - Intangible Assets - Finite Life (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,094,065	$ 180,399
Accumulated Amortization	94,634	83,433
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	217,314	22,314
Accumulated Amortization	17,408	15,155
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	713,633	140,337
Accumulated Amortization	68,029	62,163
Tradenames and other [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	163,256	17,660
Accumulated Amortization	8,318	6,084
Foreign Currency Adjustments [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	(138)	87
Accumulated Amortization	$ 879	$ 31

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2026

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026		December 31, 2025
Contract liability	$	30,223	$	15,315
Compensation and related benefits		31,654		21,787
Accrued warranty		9,727		6,796
Short-term operating lease liability		9,112		4,642
Professional fees		5,986		1,908
Other		27,491		7,191
Total accrued expenses	$	114,193	$	57,639

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 61,066	$ 33,144
Restricted cash	2,783	83
Accounts receivable, net of allowances of $7,834 and $9,866	458,990	172,909
Costs and estimated earnings in excess of billings on uncompleted contracts	139,342	115,614
Inventories	211,388	53,996
Prepaid expenses and other current assets	76,814	29,450
Prepaid income taxes	29,250	4,986
Total current assets	979,633	410,182
Property, plant and equipment, net	175,741	47,808
Right-of-use assets from operating leases	42,706	28,251
Goodwill	1,501,199	288,163
Intangible assets – finite life, net	999,431	96,966
Intangible assets – indefinite life	9,645	9,705
Deferred income taxes	0	449
Deferred charges and other assets	25,216	12,245
Total assets	3,733,571	893,769
Current liabilities:
Current portion of debt	16,641	1,879
Accounts payable	195,955	117,848
Accrued expenses	114,193	57,639
Billings in excess of costs and estimated earnings on uncompleted contracts	323,920	123,726
Income taxes payable	1,577	4,738
Total current liabilities	652,286	305,830
Other liabilities	17,625	3,317
Debt, less current portion	711,065	210,559
Deferred income tax liability, net	236,445	27,920
Operating lease liabilities	35,012	22,961
Total liabilities	1,652,433	570,587
Commitments and contingencies (See Note 13)
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, 58,444,845 and 35,644,537 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	584	355
Capital in excess of par value	2,069,492	269,453
Retained earnings	21,455	56,621
Accumulated other comprehensive loss	(15,673)	(8,901)
Total CECO shareholders' equity	2,075,858	317,528
Non-controlling interest	5,280	5,654
Total shareholders' equity	2,081,138	323,182
Total liabilities and shareholders' equity	$ 3,733,571	$ 893,769

(Loss) Earnings per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

(Loss) Earnings per Share

9. (Loss) Earnings per Share

The computational components of basic and diluted (loss) earnings per share for the three months ended June 30, 2026 and 2025 are as follows:


	Three months ended June 30,
(in thousands)	2026			2025
Numerator (for basic and diluted earnings per share)
Net (loss) income attributable to CECO Environmental Corp.	$	(34,768	)	$	9,510

Denominator
Basic weighted-average shares outstanding		43,311			35,286
Common stock equivalents arising from stock options and restricted stock awards		—			1,272
Diluted weighted-average shares outstanding		43,311			36,558

The computational components of basic and diluted (loss) earnings per share for the six months ended June 30, 2026 and 2025 are as follows:


	Six months ended June 30,
(in thousands)	2026			2025
Numerator (for basic and diluted earnings per share)
Net (loss) income attributable to CECO Environmental Corp.	$	(35,166	)	$	45,494

Denominator
Basic weighted-average shares outstanding		39,522			35,158
Common stock equivalents arising from stock options and restricted stock awards		—			1,467
Diluted weighted-average shares outstanding		39,522			36,625

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For each of the three months ended June 30, 2026 and 2025, zero and 0.2, and for the six months ended June 30, 2026 and 2025, zero million and 0.3 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect. For the three and six months ended June 30, 2026, the Company had a net loss. As a result, no potentially dilutive shares were included in the computation, as their inclusion would have been anti-dilutive. The shares that could potentially dilute earnings per share in the future were 2.0 million and 2.0 million for the three and six months ended June 30, 2026.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.

Common Stock Repurchase

On May 10, 2022, the Company's Board of Directors authorized a share repurchase program under which the Company was able to purchase up to $20.0 million of its outstanding shares of common stock through April 30, 2025. The authorization permitted the Company to repurchase shares in the open market, through accelerated share repurchases, block trades, Rule 10b5-1 trading plans or through privately negotiated transactions in accordance with applicable laws, rules and regulations. There were no shares repurchased under the program during the three or six months ended June 30, 2025. This program expired during the second quarter of 2025.

Contract Assets and Liabilities (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Jun. 30, 2026	Jan. 01, 2025
Contract Assets and Liabilities [Line Items]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 115,614	$ 139,342	$ 69,900
Billings in excess of costs and estimated earnings on uncompleted contracts	$ 123,726	323,920	81,500
Contract liabilities recognized as revenue	50.00%
Accrued Liabilities [Member]
Contract Assets and Liabilities [Line Items]
Accrued expenses	$ 15,300	$ 30,200	$ 9,700

Recent Financial Accounting Pronouncements

6 Months Ended

Jun. 30, 2026

Accounting Changes and Error Corrections [Abstract]

Recent Financial Accounting Pronouncements

2. Recent Financial Accounting Pronouncements

The Company considered the impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). The ASUs issued but not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company's consolidated financial statements.

Accounting Standards Adopted in Fiscal 2026

Effective January 1, 2026, the Company adopted ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which introduces a practical expedient for estimating credit losses on current accounts receivable and contract assets. Adoption did not have a material impact on the Company's condensed consolidated financial statements.

Accounting Standards to be Adopted

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes references to project stages, and requires capitalization of software costs to begin when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the intended function. The ASU is effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which addresses expense disclosure requirements, primarily the disaggregation of expense captions. The ASU is effective for fiscal years beginning after

December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Business Segment Information - Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Thermal Solutions Segment [Member]

Segment Reporting Information [Line Items]

Property and equipment additions

$ 1,756

Depreciation and amortization

^[1]

4,328

Engineered Systems Segment [Member]

Segment Reporting Information [Line Items]

Property and equipment additions

1,165

$ 512

1,825

$ 1,206

Depreciation and amortization

3,835

^[1]

2,113

^[2]

6,750

^[1]

4,098

^[2]

Industrial Process Solutions Segment [Member]

Segment Reporting Information [Line Items]

Property and equipment additions

128

328

314

961

Depreciation and amortization

$ 2,317

^[1]

$ 1,864

^[2]

$ 4,432

^[1]

$ 4,188

^[2]

[1]	The amounts of depreciation and amortization disclosed by reportable segment are included within other segment expense captions, such as shop burden or general and administrative expense.
[2]	The amounts of depreciation and amortization disclosed by reportable segment are included within other segment expense captions, such as shop burden or general and administrative expense.

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

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+ Details

- Definition

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+ Details

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation awards	$ 12.4	$ 2.9	$ 12.8	$ 6.2
Exercise of stock options, Shares	0	0	0	0
Thermon Group Holdings, Inc. [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation awards			$ 8.5
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock awards granted	25,243	203,000	251,712	590,000
Number of Options, Granted	0	0	17,563	67,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Number of share options (or share units) exercised during the current period.

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+ Details

Contract Assets and Liabilities - Summary of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jan. 01, 2025
Contract with Customer, Asset, after Allowance for Credit Loss, Current [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 139,342	$ 115,614	$ 69,900
Billings in excess of costs and estimated earnings on uncompleted contracts	$ 323,920	$ 123,726	$ 81,500

Inventories

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Inventories

5. Inventories

Inventories as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026		December 31, 2025
Raw materials	$	95,233	$	15,398
Work in process		45,763		18,026
Finished goods		70,393		20,572
Total inventories	$	211,388	$	53,996

Adjustments to the allowance for obsolete inventory, as recorded to cost of sales, amounted to an increase of $0.4 million and increase of $0.1 million for the three months ended June 30, 2026 and 2025, respectively, and an increase of $1.5 million and increase of $0.2 million for the six months ended June 30, 2026 and 2025, respectively.

Goodwill and Intangible Assets - Finite Lived Intangible Assets Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Intangible Asset, Goodwill and Other [Abstract]
Intangible assets – finite life, net at beginning of period			$ 96,966	$ 74,050
Amortization expense	$ (7,800)	$ (2,900)	(11,792)	(6,033)
Acquisition			917,050	41,810
Divestiture and other			(1,719)	(4,029)
Foreign currency adjustments			(1,074)	1,073
Intangible assets – finite life, net at end of period	$ 999,431	$ 106,871	$ 999,431	$ 106,871

- Definition

Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed.

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+ Details

Acquisitions - Summary of Fair Value of Consideration Transferred for the Merger (Details)		3 Months Ended
	Jun. 01, 2026 USD ($) $ / shares shares	Jun. 30, 2026 USD ($)	May 29, 2026 $ / shares
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Cash Issued to Maximum Aggregate Stock Shares		$ 1,792,592,000
Fractional Shares \| shares	68
Total Merger Consideration per the Merger Agreement	$ 2,110,069,000
Pre-combination value of replaced Thermon equity awards	11,609,000
Cash settlement of Thermon equity awards	2,111,000
Repayment of Thermon indebtedness	141,682,000
Less: D&O "tail" insurance premium	(1,371,000)
Total preliminary consideration transferred	2,264,100,000
Mixed Consideration
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Total Consideration	1,103,766,000
Cash Consideration
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Total Consideration	157,085,000
Stock Consideration
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Total Consideration	849,150,000
Thermon Group Holdings, Inc.
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Consideration in the form of CECO's Common Stock	$ 64
Consideration received per share \| $ / shares	$ 79.03		$ 61.14
Total preliminary consideration transferred	$ 2,264,100,000
Thermon Group Holdings, Inc. \| Mixed Consideration \| Stock Component
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Number of Common Stock Shares Issued \| shares	17,231,130
Exchange ratio per Merger Agreement	0.684
Thermon Group Holdings, Inc. \| Mixed Consideration \| Cash Component
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Number of Common Stock Shares Issued \| shares	17,231,130
Consideration in the form of CECO's Common Stock	$ 172,311,000
Consideration received per share \| $ / shares	$ 10
Thermon Group Holdings, Inc. \| Cash Consideration
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Number of Common Stock Shares Issued \| shares	2,142,408
Consideration received per share \| $ / shares	$ 63.89
All-Cash Consideration	$ 136,878,000
Cash Issued to Maximum Aggregate Stock Shares	$ 20,207,000
Thermon Group Holdings, Inc. \| Stock Consideration
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Number of Common Stock Shares Issued \| shares	13,566,156
Exchange ratio per Merger Agreement	0.811
CECO Environmental Corp \| Mixed Consideration \| Stock Component
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Number of Common Stock Shares Issued \| shares	11,786,093
Common Stock Closing Price \| $ / shares	$ 79.03
Consideration in the form of CECO's Common Stock	$ 931,455,000
CECO Environmental Corp \| Stock Consideration
Business Combination, Consideration Transferred, Equity Interest [Line Items]
Number of Common Stock Shares Issued \| shares	11,002,153
Common Stock Closing Price \| $ / shares	$ 79.03
Less: CECO Common Stock shares due to Maximum Aggregate Stock Shares proration per the Merger Agreement \| shares	(257,495)
Number of CECO Common Stock shares to be issued pursuant to the Maximum Aggregate Stock Shares proration per the Merger Agreement \| shares	10,744,658

Contract Assets and Liabilities

6 Months Ended

Jun. 30, 2026

Disclosure Text Block [Abstract]

Contract Assets and Liabilities

4. Contract Assets and Liabilities

Contract assets and liabilities as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026		December 31, 2025
Costs and estimated earnings in excess of billings on uncompleted contracts	$	139,342	$	115,614
Billings in excess of costs and estimated earnings on uncompleted contracts		323,920		123,726

As of the beginning of the prior year period, or January 1, 2025, costs and estimated earnings in excess of billings on uncompleted contracts and billings in excess of costs and estimated earnings on uncompleted contracts were $69.9 million and $81.5 million, respectively. The contract liabilities recorded in “Accrued expenses” on the Condensed Consolidated Balance Sheets were $30.2 million, $15.3 million and $9.7 million as of June 30, 2026, December 31, 2025 and January 1, 2025, respectively. Approximately 50% of the Company's contract liabilities as of December 31, 2025 were recognized as revenue in the six months ended June 30, 2026.

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Thousands	Feb. 13, 2026	Jan. 03, 2025
Flexible Specialty Products LLC
Business Acquisition [Line Items]
Cash, Current assets	$ 134
Accounts receivable	$ 861
Profire Energy Inc
Business Acquisition [Line Items]
Cash, Current assets		$ 22,675
Accounts receivable		$ 14,151

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Condensed Consolidated Statements Of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (34,489)	$ 10,106	$ (34,736)	$ 46,549
Other comprehensive (loss) income, net of tax:
Foreign currency translation (loss) gain	(6,697)	404	(6,772)	1,923
Comprehensive (loss) income	$ (41,186)	$ 10,510	$ (41,508)	$ 48,472

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Senior Debt

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Senior Debt

8. Senior Debt

Debt as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026			December 31, 2025
Outstanding borrowings under Credit Facility (defined below)
Revolving credit facility	$	497,000		$	208,600
Term loan		235,000			—
Total outstanding borrowings under the Credit Facility		732,000			208,600
Outstanding borrowings under the joint venture term debt		4,731			5,647
Unamortized debt discount		(9,025	)		(1,809	)
Total outstanding borrowings		727,706			212,438
Less: current portion		(16,641	)		(1,879	)
Total debt, less current portion	$	711,065		$	210,559

Scheduled principal payments under the Credit Facility and joint venture term debt are $6.9 million for the remainder of 2026, $15.7 million in 2027, $14.7 million in 2028, $17.6 million in 2029, and $17.6 million in 2030, with the remainder due upon

maturity in 2031. The Term Loan is payable in quarterly principal installments of $2.9 million through June 30, 2028, increasing to $4.4 million through December 31, 2030 with the remainder due upon maturity on January 30, 2031.

Credit Facility

On October 7, 2024, the Company entered into the Third Amended and Restated Credit Agreement (the “Legacy Credit Agreement”), among the Company, its subsidiaries from time to time party thereto, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent, which amended and restated in its entirety the Company’s prior credit agreement. The Legacy Credit Agreement provided for a senior secured revolving credit facility in an initial aggregate principal amount of up to $400.0 million (the "Legacy Credit Facility”).

On January 30, 2026, the Company entered into the Fourth Amended and Restated Credit Agreement (the “2026 Credit Agreement”), among the Company, its subsidiaries from time to time party thereto, the lenders from time to time party thereto, and Bank of America, N.A., as administrative agent, which amended and restated in its entirety the Legacy Credit Agreement. The 2026 Credit Agreement provided for a senior secured revolving credit facility in an initial aggregate principal amount of up to $700.0 million.

On March 30, 2026, the Company entered into Amendment No. 1 to Fourth Amended and Restated Credit Agreement (the “Amendment”), among the Company, its subsidiaries party thereto, the lenders party thereto (the "Lenders"), and Bank of America, N.A., as administrative agent (the “Agent”), which amends the Credit Agreement (the 2026 Credit Agreement as amended by the Amendment, the “Credit Agreement”). The Amendment provided for a senior secured revolving credit facility in an initial aggregate principal amount of up to $740.0 million and added an incremental senior secured delayed-draw term loan commitment in an initial aggregate principal amount of $235 million (the “Incremental Term A-1 Loan Facility”; together with the Revolving Facility, the “Credit Facility”), subject only to the satisfaction or waiver of the related conditions precedent set forth in the Credit Agreement, including, without limitation, the consummation of the merger and acquisition contemplated by that certain Agreement and Plan of Merger, dated as of February 23, 2026, by and among the Company, Longhorn Merger Sub, Inc., Longhorn Merger Sub LLC, and Thermon.

On June 1, 2026, the Company borrowed $235.0 million on the Incremental Term A-1 Loan Facility.

As of June 30, 2026 and December 31, 2025, $22.5 million and $23.8 million of letters of credit were outstanding, under the Credit Facility, respectively. Total unused credit availability, in consideration of borrowing limitations, under the Company’s Credit Facility was $220.5 million and $123.6 million at June 30, 2026 and December 31, 2025, respectively. The Company's available borrowing capacity under the Credit Facility is defined as the lower of (a) the Credit Facility amount less outstanding borrowings and Letters of Credit on the Credit Facility, and (b) the Company's trailing twelve month EBITDA, as defined in the Credit Agreement, by a factor of the maximum leverage ratio, less outstanding borrowings on the Credit Facility. Revolving loans may be borrowed, repaid and reborrowed until January 30, 2031, at which time all outstanding balances of the Credit Facility must be repaid.

The Legacy Credit Facility accrued interest (a) with respect to base rate loans, at an annual rate equal to an applicable rate of between 0.75% and 2.25% (fluctuating based on the Company’s Consolidated Net Leverage Ratio), plus a rate equal to the highest of (1) the Agent’s prime rate, (2) the federal funds rate plus one-half of 1.00%, (3) Daily Simple SOFR (as defined in the Legacy Credit Agreement) plus 1.00% and (4) 1.00%, (b) for all other loans, at an annual rate equal to an applicable rate of between 1.75% and 3.25% (fluctuating based on the Company’s Consolidated Net Leverage Ratio), plus a rate determined based on the denominated currency and, as applicable pursuant to the Legacy Credit Agreement, whether the Company has elected for interest on such loans to accrue at a daily rate or a term rate: (a) for term rate loans, if denominated (1) in U.S. Dollars,
Term SOFR (as defined in the Legacy Credit Agreement inclusive of a 0.10% per annum adjustment), (2) in euros, EURIBOR, (3) in Canadian dollars, the Term CORRA Rate (as defined in the Legacy Credit Agreement) plus 0.29547% for a one-month interest period and 0.32138% for a three-month interest period or (4) in a currency other than (1)-(3), the rate per annum as designated with respect to such currency at the time such currency was approved by the Agent and the other Lenders or, if such rate is unavailable on any date of determination for any reason, a comparable or successor rate approved by the Agent, and (b) for daily rate loans, if denominated (1) in U.S. dollars, Daily Simple SOFR (as defined in the Legacy Credit Agreement inclusive of a 0.10% per annum adjustment), (2) in pounds sterling, a rate per annum equal to SONIA (as defined in the Legacy Credit Agreement) plus 0.0326% per annum or (3) in a currency other than (1) or (2), the rate per annum as designated with respect to such currency at the time such currency was approved by the Agent and the other Lenders or, if such rate is unavailable on any date of determination for any reason, a comparable or successor rate approved by the Agent.

The Credit Facility accrues interest (a) with respect to base rate loans, at an annual rate equal to an applicable rate spread of between 0.50% and 2.00% (fluctuating based on the Company’s Consolidated Net Leverage Ratio, as defined in the Credit

Agreement), plus a rate equal to the highest of (1) the Agent’s prime rate, (2) the federal funds rate plus one-half of 1.00%, (3) Daily Simple SOFR (as defined in the Credit Agreement) plus 1.00% and (4) 1.00%, (b) for all other loans, at an annual rate equal to an applicable rate spread of between 1.50% and 3.00% (fluctuating based on the Company’s Consolidated Net Leverage Ratio), plus a rate determined based on the denominated currency and, as applicable pursuant to the Credit Agreement, whether the Company has elected for interest on such loans to accrue at a daily rate or a term rate: (a) for term rate loans, if denominated (1) in U.S. Dollars, Term SOFR (as defined in the Credit Agreement), (2) in euros, EURIBOR, (3) in Canadian dollars, the Term CORRA Rate (as defined in the Credit Agreement) plus 0.29547% for a one-month interest period and 0.32138% for a three-month interest period or (4) in a currency other than (1)-(3), the rate per annum as designated with respect to such currency at the time such currency was approved by the Agent and the other Lenders or, if such rate is unavailable on any date of determination for any reason, a comparable or successor rate approved by the Agent, and (b) for daily rate loans, if denominated (1) in U.S. dollars, Daily Simple SOFR (as defined in the Credit Agreement), (2) in pounds sterling, a rate per annum equal to SONIA (as defined in the Credit Agreement) plus 0.0326% per annum or (3) in a currency other than (1) or (2), the rate per annum as designated with respect to such currency at the time such currency was approved by the Agent and the other Lenders or, if such rate is unavailable on any date of determination for any reason, a comparable or successor rate approved by the Agent.

Interest on Base Rate loans is payable quarterly in arrears on the last day of each calendar quarter and at maturity. Interest on Term SOFR rate loans is payable on the last date of each applicable Interest Period (as defined in the Credit Agreement), but in no event less than once every three months and at maturity. The weighted average stated interest rate on outstanding borrowings was 6.13% and 6.41% at June 30, 2026 and December 31, 2025, respectively. The effective interest rate was 6.51% and 7.06% at June 30, 2026 and December 31, 2025, respectively.

With respect to financial covenants and the commencement of the Thermon acquisition, the Company is now required to maintain a Consolidated Net Leverage Ratio not greater than 4.5 to 1.00 with step downs to 4.25 to 1.00 on June 30, 2027 and 4.00 to 1.00 on December 31, 2027 and a Consolidated Secured Net Leverage Ratio (as defined in the Credit Agreement) not greater than 4.25 to 1.00 with step downs to 4.00 to 1.00 on June 30, 2027 and 3.50 to 1.00 on December 31, 2027, in each case as of the last day of each fiscal quarter of the Company. With the commencement of the Thermon acquisition, the Company is no longer required to maintain a Consolidated Fixed Charge Coverage Ratio (as defined in the Credit Agreement) as of the last day of each fiscal quarter of the Company of not less than 1.25 to 1.00; and is now required to maintain a Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) as of the last day of each fiscal quarter of the Company of not less than 3.00 to 1.00.

The Company has granted a security interest in substantially all of its assets to secure its obligations pursuant to the Credit Facility. The Company’s obligations under the Credit Facility are guaranteed by the Company’s domestic subsidiaries and such guaranty obligations are secured by a security interest on substantially all the assets of such subsidiaries, including certain real property. The Company’s obligations under the Credit Facility may also be guaranteed by the Company’s material foreign subsidiaries to the extent no adverse tax consequences would result to the Company.

In connection with the 2026 Credit Agreement and the Amendment thereto and the related financing of the Thermon acquisition, the Company incurred $5.0 million in customary closing and underwriting fees associated with the revolving credit facility. These costs were deferred and are being amortized over the term of the amended facility. In connection with the Incremental Term A-1 Loan Facility, $2.7 million of deferred financing costs were recorded as debt issuance costs and are being amortized over the term of the Term A-1 Loan.

As of June 30, 2026 and December 31, 2025, the Company was in compliance with all related financial and other restrictive covenants under the Credit Facility.

Joint Venture Debt

On March 7, 2022, the PPI joint venture, for which the Company holds 63% of the equity, entered into a loan agreement secured by the assets of PPI in the aggregate principal amount of $11.0 million for the acquisition of General Rubber, LLC. As of June 30, 2026 and December 31, 2025, $4.7 million and $5.6 million was outstanding under the loan, respectively. Principal will be paid back to the lender monthly with the final installment due by February 27, 2027. Interest is accrued at the per annum rate based on PPI's choice of the 1/3/6 month Term SOFR rate plus 3.25%, with a floor rate of 3.75%. Interest is paid monthly on the last day of each month. The interest rate at June 30, 2026 and December 31, 2025 was 6.87% and 7.27%, respectively. As of June 30, 2026 and December 31, 2025, PPI was in compliance with all related financial and other restrictive covenants under this loan agreement. This loan balance does not impact the Company’s borrowing capacity or the financial covenants under the Credit Facility. As of June 30, 2026, there were $22.0 million in current assets (including $2.6 million of cash, $8.8 million of accounts receivable, and $4.9 million of inventories), $35.9 million in long-lived assets (including $32.1 million of goodwill and

intangible assets), and $19.7 million in total liabilities (including $4.7 million of debt and $5.4 million of accounts payable and accrued expenses) related to PPI included in the Condensed Consolidated Balance Sheets. As of December 31, 2025, there were $20.7 million in current assets (including $1.9 million of cash, $10.4 million of accounts receivable, and $4.3 million of inventories), $24.4 million in long-lived assets (including $23.9 million of goodwill and intangible assets), and $14.2 million in total liabilities (including $5.6 million of debt and $4.9 million of accounts payable and accrued expenses) related to PPI included in the Condensed Consolidated Balance Sheets. For the three months ended June 30, 2026 and 2025, PPI accounted for $13.0 million and $12.5 million in revenue, respectively, and $0.6 million and $1.6 million in net income, respectively, included in the Company's results. For the six months ended June 30, 2026 and 2025, PPI accounted for $26.3 million and $23.5 million in revenue, respectively, and $0.9 million and $2.4 million in net income, respectively, included in the Company's results.

Other Debt

The Company maintains bank guarantee facilities and bilateral lines of credit in various countries that are supported by cash, letters of credit, pledged assets or collateral available under the Credit Facility. The Credit Facility allows letters of credit and bank guarantee issuances of up to $175.0 million towards bilateral lines of credit secured through pledged assets and collateral under the Credit Facility. As of June 30, 2026 and December 31, 2025, $46.9 million and $38.6 million in bank guarantees were outstanding, respectively. Separately, CECO had $8.9 million and $3.0 million outstanding as of June 30, 2026 and December 31, 2025, respectively, on all other lines of credit or other local collateral.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 01, 2026	Feb. 13, 2026	Dec. 31, 2025	Jan. 03, 2025	Dec. 31, 2024
Business Combination [Line Items]
Total preliminary consideration transferred		$ 2,264,100
Liabilities
Net assets	$ 2,075,858			$ 317,528
Goodwill	$ 1,501,199			$ 288,163		$ 269,747
Thermon Group Holdings, Inc.
Business Combination [Line Items]
Total preliminary consideration transferred		2,264,100
Assets
Cash and cash equivalents		35,724
Restricted cash		5,831
Accounts receivable		103,832
Costs and estimated earnings in excess of billings on uncompleted contracts		28,138
Inventories		158,366
Prepaid expenses and other current assets		10,182
Prepaid income taxes		1,235
Property, plant and equipment		129,785
Right-of-use assets from operating leases		15,097
Intangible assets - finite life		911,000
Deferred charges and other assets		11,681
Total assets acquired		1,410,871
Liabilities
Accounts payable		37,569
Accrued liabilities		79,570
Billings in excess of costs and estimated earnings on uncompleted contracts		8,349
Income taxes payable		2,185
Deferred income tax liability		(207,797)
Operating lease liabilities		12,334
Other liabilities assumed		(9,438)
Total liabilities		357,242
Net assets		1,053,629
Goodwill		$ 1,210,471
Flexible Specialty Products LLC
Assets
Current assets			$ 1,420
Cash and cash equivalents			134
Accounts receivable			861
Intangible assets - finite life			6,050
Other assets			447
Total assets acquired			10,588
Liabilities
Other liabilities assumed			(291)
Current liabilities assumed			(247)
Net assets acquired			10,050
Goodwill			$ 2,671
Profire Energy Inc
Assets
Current assets					$ 54,867
Cash and cash equivalents					22,675
Accounts receivable					14,151
Property, plant and equipment					17,416
Intangible assets - finite life					41,810
Other assets					801
Total assets acquired					140,466
Liabilities
Deferred income tax liability					(11,226)
Other liabilities assumed					(291)
Current liabilities assumed					(8,567)
Net assets acquired					120,382
Goodwill					$ 25,572

Acquisitions - Schedule of Unaudited Pro Forma Financial Information (Details) - Environmental Integrated Solutions - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Business Acquisition [Line Items]
Net sales	$ 359,763	$ 294,289	$ 714,014	$ 605,066
Net income (loss) attributable to CECO Environmental Corp.	$ 16,403	$ 1,992	$ 13,376	$ (19,470)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Fair Value of Consideration Transferred for the Merger

The following table summarizes the fair value of consideration transferred for the Merger:


	Amount
Mixed Consideration (Mixed elections and non-electors)
Stock component
Number of Thermon's Common Stock shares		17,231,130
Exchange ratio per Merger Agreement		0.6840
Number of CECO Common Stock shares issued to Thermon shareholders		11,786,093
CECO Common Stock closing price as of June 1, 2026	$	79.03
Consideration in the form of CECO's Common Stock	$	931,455
Cash component
Number of Thermon's Common Stock shares		17,231,130
Per Share Cash Consideration	$	10.00
Consideration in form of cash	$	172,311
Total Mixed Consideration	$	1,103,766
Cash Consideration
Number of Thermon's Common Stock shares		2,142,408
Per share Cash Consideration	$	63.89
All-Cash Consideration	$	136,878
Cash issued due to Maximum Aggregate Stock Shares proration per the Merger Agreement	$	20,207
Total Cash Consideration	$	157,085
Stock Consideration
Number of Thermon's Common Stock shares		13,566,156
Exchange ratio per Merger Agreement		0.8110
Number of CECO Common Stock shares		11,002,153
Less: CECO Common Stock shares due to Maximum Aggregate Stock Shares proration per the Merger Agreement		(257,495	)
Number of CECO Common Stock shares issued pursuant to the Maximum Aggregate Stock Shares proration per the Merger Agreement		10,744,658
CECO Common Stock closing price as of June 1, 2026	$	79.03
Total Stock Consideration	$	849,150
Fractional Shares	$	68
Total Merger Consideration per the Merger Agreement	$	2,110,069
Pre-combination value of replaced Thermon equity awards	$	11,609
Cash settlement of Thermon equity awards	$	2,111
Repayment of Thermon indebtedness	$	141,682
Less: D&O tail insurance premium	$	(1,371	)
Total preliminary consideration transferred	$	2,264,100

Thermon Group Holdings, Inc.

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The preliminary allocation of the total estimated purchase consideration is as follows:


(in thousands)	Preliminary Fair Value
Total preliminary consideration transferred	$	2,264,100
Assets
Cash and cash equivalents		35,724
Restricted cash		5,831
Accounts receivable		103,832
Costs and estimated earnings in excess of billings on uncompleted contracts		28,138
Inventories		158,366
Prepaid expenses and other current assets		10,182
Prepaid income taxes		1,235
Property, plant and equipment		129,785
Right-of-use assets from operating leases		15,097
Intangible assets – finite life		911,000
Deferred charges and other assets		11,681
Total assets	$	1,410,871
Liabilities
Accounts payable		37,569
Accrued liabilities		79,570
Billings in excess of costs and estimated earnings on uncompleted contracts		8,349
Income taxes payable		2,185
Deferred income tax liability		207,797
Operating lease liabilities		12,334
Other liabilities		9,438
Total liabilities		357,242
Net assets		1,053,629
Goodwill	$	1,210,471

Acquired intangible assets consisted of the following:


(in thousands)	Amount
Technology		195,000
Customer lists		570,000
Tradenames		120,000
Backlog		26,000
Total acquired intangible assets	$	911,000

Flexible Specialty Products LLC

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of closing.


(in thousands)
Current assets (including cash of $134 and accounts receivable of $861)	$	1,420
Intangible - finite life		6,050
Goodwill		2,671
Other assets		447
Total assets acquired		10,588
Current liabilities assumed		(247	)
Other liabilities assumed		(291	)
Net assets acquired	$	10,050

Profire Energy Inc

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of closing.


(in thousands)
Current assets (including cash and cash equivalents of $22,675 and accounts receivable of $14,151)	$	54,867
Property and equipment		17,416
Intangible - finite life		41,810
Goodwill		25,572
Other assets		801
Total assets acquired		140,466
Current liabilities assumed		(8,567	)
Deferred income tax liability		(11,226	)
Other liabilities assumed		(291	)
Net assets acquired	$	120,382

EnviroCare International LLC

Schedule of Unaudited Pro Forma Financial Information


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2026		2025		2026		2025
Net sales	$	359,763	$	294,289	$	714,014	$	605,066
Net income (loss) attributable to CECO Environmental Corp.		16,403		1,992		13,376		(19,470	)

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Senior Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Total outstanding borrowings under the Credit Facility	$ 727,706	$ 212,438
Total outstanding borrowings	727,706	212,438
Less: current portion	(16,641)	(1,879)
Total debt, less current portion	711,065	210,559
Term Loan [Member]
Debt Instrument [Line Items]
Term loan	235,000	0
Revolving Credit Loan [Member]
Debt Instrument [Line Items]
Revolving credit facility	497,000	208,600
Senior Debt [Member]
Debt Instrument [Line Items]
Total outstanding borrowings under the Credit Facility	732,000	208,600
Total outstanding borrowings	732,000	208,600
Line Of Credit [Member]
Debt Instrument [Line Items]
Outstanding borrowing under the joint venture term debt	4,731	5,647
Term Debt [Member]
Debt Instrument [Line Items]
Unamortized debt discount	$ (9,025)	$ (1,809)

Accounts Receivable - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 466,824	$ 182,775
Provision for credit losses	(7,834)	(9,866)
Total accounts receivable, net	$ 458,990	$ 172,909	$ 159,500

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired Intangible Assets (Details) - Thermon Group Holdings, Inc. $ in Thousands	Jun. 01, 2026 USD ($)
Business Combination [Line Items]
Total acquired intangible assets	$ 911,000
Technology
Business Combination [Line Items]
Total acquired intangible assets	195,000
Customer lists
Business Combination [Line Items]
Total acquired intangible assets	570,000
Tradenames
Business Combination [Line Items]
Total acquired intangible assets	120,000
Backlog
Business Combination [Line Items]
Total acquired intangible assets	$ 26,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

(Loss) Earnings per Share - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	May 10, 2022
Earnings And Dividends Per Share [Abstract]
Anti-dilutive options and restricted stock units outstanding	0	200,000	0	300,000
Purchase of outstanding shares of common stock					$ 20.0
Repurchase of common stock (in shares)		0		0
Potentially dilute earnings per share	2,000,000		2,000,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Accounts Receivable

6 Months Ended

Jun. 30, 2026

Receivables [Abstract]

Accounts Receivable

3. Accounts Receivable

Accounts receivable as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026			December 31, 2025
Accounts receivable	$	466,824		$	182,775
Allowance for credit losses		(7,834	)		(9,866	)
Total accounts receivable, net	$	458,990		$	172,909

Accounts receivable, net as of the beginning of the prior year period, or January 1, 2025, were $159.5 million.

Balances billed but not paid by customers under retainage provisions in contracts within the Condensed Consolidated Balance Sheets amounted to approximately $10.9 million and $10.9 million at June 30, 2026 and December 31, 2025, respectively. Retainage receivables on contracts in progress are generally collected up to 24 months following contract completion, and are recorded in either "Accounts receivable, net" or "Deferred charges and other assets" within the Condensed Consolidated Balance Sheets depending on timing of expected collection.

Allowance for credit losses activity for the six months ended June 30, 2026 and 2025 consisted of the following:


	Six months ended June 30,
(in thousands)	2026			2025
Balance at beginning of period	$	9,866		$	8,863
Write-offs		(493	)		(1,166	)
(Recovery) allowance for credit loss		(1,539	)		1,297
Balance at end of period	$	7,834		$	8,994

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill and indefinite life intangible asset activity for the six months ended June 30, 2026 and the year ended December 31, 2025 was as follows:


(in thousands)	Six months ended June 30, 2026						Year ended December 31, 2025
Goodwill / Tradename	Goodwill			Tradename			Goodwill			Tradename
Balance at beginning of period	$	288,163		$	9,705		$	269,747		$	9,466
Acquisitions		1,213,192			—			41,769			—
Divestiture		—			—			(26,838	)		—
Foreign currency translation		(156	)		(60	)		3,485			238
Balance at end of period	$	1,501,199		$	9,645		$	288,163		$	9,705

During the three months ended March 31, 2026, the Company, through its Pinnacle Processes Inc. ("PPI") (formerly known as Effox-Flextor-Mader, Inc.) joint venture, completed the acquisition of Flexible Specialty Products ("FSP"), as discussed in Note 14.

During the three months ended June 30, 2026, the Company completed the acquisition of Thermon Group Holdings ("Thermon"), as discussed in Note 14.

Finite life intangible assets as of June 30, 2026 and December 31, 2025 consisted of the following:


	June 30, 2026					December 31, 2025
(in thousands)	Cost			Accumulated Amortization		Cost		Accumulated Amortization
Technology	$	217,314		$	17,408	$	22,314	$	15,155
Customer lists		713,633			68,029		140,337		62,163
Tradenames and other		163,256			8,318		17,660		6,084
Foreign currency adjustments		(138	)		879		87		31
Total intangible assets – finite life	$	1,094,065		$	94,634	$	180,399	$	83,433

Finite life intangible asset activity for the six months ended June 30, 2026 and 2025 was as follows:


	Six months ended June 30,
(in thousands)	2026			2025
Intangible assets – finite life, net at beginning of period	$	96,966		$	74,050
Amortization expense		(11,792	)		(6,033	)
Acquisitions		917,050			41,810
Divestiture and other		(1,719	)		(4,029	)
Foreign currency adjustments		(1,074	)		1,073
Intangible assets – finite life, net at end of period	$	999,431		$	106,871

In the second quarter of 2026, the Company shut down its Western Air Ducts business located in the United Kingdom. As a result, the Company recorded an impairment charge of $1.7 million related to finite life intangible assets. This was recorded to "'Other operating expense (income)" on the Condensed Consolidated Statements of Operations. In the first quarter of 2025, the Company completed the divestiture of its Global Pump Solutions business, and recognized $4.0 million related to the removal of the net book value of its intangible assets. This was recorded to "Gain on sale of Global Pump Solutions business" on the Condensed Consolidated Statements of Operations.

Amortization expense of finite life intangible assets was $7.8 million and $2.9 million for the three months ended June 30, 2026 and 2025, respectively, and $11.8 million and $6.0 million for the six months ended June 30, 2026 and 2025, respectively. Amortization over the next five years for finite life intangibles is expected to be $28.9 million for the remainder of 2026, $70.9 million in 2027, $68.2 million in 2028, $63.5 million in 2029, $62.7 million in 2030, and $705.2 million thereafter. The weighted average amortization periods for finite life intangible assets was 20.3 years as of June 30, 2026, inclusive of weighted average amortization periods for technology, customer lists, and tradenames and other of 19.4, 21.6, and 18.8 years, respectively.

Annually during the fourth quarter, or more often as circumstances require, the Company completes an impairment assessment of its goodwill and indefinite life intangible assets at the reporting unit level. As a part of its annual assessment, the Company first qualitatively assesses whether current events or changes in circumstances lead to a determination that it is more likely than not, defined as a likelihood of more than 50 percent, that the fair value of a reporting unit is less than its carrying amount. If there is a qualitative determination that the fair value of a particular reporting unit is more likely than not greater than its carrying value, the Company does not need to quantitatively test for impairment for that reporting unit. If this qualitative assessment indicates a more likely than not potential that the asset may be impaired, the estimated fair value is determined using a weighting of the income method and the market method. If the estimated fair value of a reporting unit is less than its carrying value, an impairment charge is recorded.

Additionally, property, plant and equipment, right-of-use assets, and finite life intangible assets are reviewed whenever events or changes in circumstances occur that indicate possible impairment. If events or changes in circumstances occur that indicate possible impairment, the impairment review is based on an undiscounted cash flows analysis at the lowest level at which cash flows of the long-lived assets are largely independent of other groups of assets and liabilities. When impairment is indicated, the estimated future cash flows are then discounted to determine the estimated fair value of the asset or asset group and an impairment charge is recorded for the difference between the carrying value and the estimated fair value.

The Company did not identify any other triggering events that would require an interim impairment assessment, or record an additional impairment of goodwill, indefinite life intangible assets, finite life intangible assets, right-of-use assets, or property, plant and equipment during the three or six months ended June 30, 2026, other than as related to the Western Air Ducts business as discussed above.

The Company’s assumptions about future conditions important to its assessment of potential impairment are subject to uncertainty, and the Company will continue to monitor these conditions in future periods as new information becomes available and will update its analysis accordingly.

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Other Commitments [Line Items]
Total accrued expenses	$ 114,193	$ 57,639

Basis of Reporting for Consolidated Financial Statements

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Reporting for Consolidated Financial Statements

1. Basis of Reporting for Consolidated Financial Statements

The accompanying unaudited condensed consolidated financial statements of CECO Environmental Corp. and its subsidiaries (the “Company,” “CECO,” “we,” “us,” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to those rules and regulations. In the opinion of management, the accompanying unaudited condensed consolidated financial statements of the Company contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of June 30, 2026 and the results of operations, cash flows and shareholders’ equity for the three and six months ended June 30, 2026 and 2025. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for the full year. The balance sheet as of December 31, 2025 has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 as filed with the SEC on March 2, 2026 (the “Form 10-K”). Certain prior period amounts were reclassified to conform to the presentation in the current period.

During the three months ended June 30, 2026, the Company completed the acquisition of Thermon Group Holdings ("Thermon"), as discussed in Note 14. As a result, Thermon's assets, liabilities, and results of operations have been included in the Company's condensed consolidated financial statements commencing on the acquisition date.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

These financial statements and accompanying notes should be read in conjunction with the audited financial statements and the notes thereto included in the Form 10-K.

Unless otherwise indicated, all balances within tables are in thousands, except per share amounts.

Condensed Consolidated Statements Of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 284,961	$ 185,391	$ 490,880	$ 362,088
Cost of sales	198,493	118,283	340,492	232,818
Gross profit	86,468	67,108	150,388	129,270
Selling and administrative expense	63,891	48,816	109,982	102,359
Amortization expense	7,789	2,937	11,792	6,033
Acquisition and integration expense	45,461	32	55,742	8,175
Gain on sale of Global Pump Solutions business	0	0	0	(64,502)
Other operating expense (income)	2,505	(2,738)	4,174	(2,725)
Loss (income) from operations	(33,178)	18,061	(31,302)	79,930
Other loss (income)	2,298	(1,454)	3,691	(861)
Interest expense	9,102	4,898	13,332	11,115
(Loss) income before income taxes	(44,578)	14,617	(48,325)	69,676
Income tax (benefit) expense	(10,089)	4,511	(13,589)	23,127
Net income (loss)	(34,489)	10,106	(34,736)	46,549
Non-controlling interest	279	596	430	1,055
Net income attributable to CECO Environmental Corp.	$ (34,768)	$ 9,510	$ (35,166)	$ 45,494
(Loss) earnings per share:
Basic	$ (0.8)	$ 0.27	$ (0.89)	$ 1.29
Diluted	$ (0.8)	$ 0.26	$ (0.89)	$ 1.24
Weighted average number of common shares outstanding:
Basic	43,310,506	35,286,065	39,521,709	35,157,514
Diluted	43,310,506	36,558,493	39,521,709	36,624,237

Accounts Receivable - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Accounts receivable, net of allowances	$ 458,990	$ 172,909	$ 159,500
Amount billed but not received under retainage provisions in contracts	$ 10,900	$ 10,900

Senior Debt - Additional Information (Detail) $ in Thousands, € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 EUR (€)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2027	Jun. 30, 2027	Jun. 01, 2026 USD ($)	Mar. 30, 2026 USD ($)	Jan. 30, 2026 USD ($)	Dec. 31, 2025 USD ($)	Oct. 07, 2024 USD ($)	Mar. 07, 2022 USD ($)
Line Of Credit Facility [Line Items]
Credit facility principal payments 2026	$ 6,900			$ 6,900
Credit facility principal payments 2027	15,700			15,700
Credit facility principal payments 2028	14,700			14,700
Credit facility principal payments 2029	17,600			17,600
Credit facility principal payments 2030	$ 17,600			$ 17,600
Debt Instrument, Basis Spread on Variable Rate			1.00%	1.00%
Weighted average interest rate on outstanding borrowings	6.13%			6.13%							6.41%
Debt effective interest rate	6.51%			6.51%							7.06%
Inventories Related to EFM JV	$ 211,388			$ 211,388							$ 53,996
Current Assets Related to EFM JV	979,633			979,633							410,182
Liabilities Related to EFM JV	1,652,433			1,652,433							$ 570,587
Revenues Related to EFM JV \| €			€ 750
Net Income Related to EFM JV	$ (34,768)	$ 9,510		(35,166)	$ 45,494
Term loan principal installments				2,900
Increasing term loan principal installments				$ 4,400
Maturity date of term loan	Jan. 30, 2031			Jan. 30, 2031
EFM JV [Member]
Line Of Credit Facility [Line Items]
Weighted average interest rate on outstanding borrowings	6.87%			6.87%							7.27%
Cash Related to EFM JV	$ 2,600			$ 2,600							$ 1,900
Accounts Receivable Related to EFM JV	8,800			8,800							10,400
Inventories Related to EFM JV	4,900			4,900							4,300
Current Assets Related to EFM JV	22,000			22,000							20,700
Long Lived Assets Related to EFM JV	35,900			35,900							24,400
Goodwill and Intangible Assets Related to EFM JV	32,100			32,100							23,900
Debt Related to EFM JV	4,700			4,700							5,600
Accounts payable and accrued expenses related to EFM JV	5,400			5,400							4,900
Liabilities Related to EFM JV	19,700			19,700							14,200
Revenues Related to EFM JV	13,000	12,500		26,300	23,500
Net Income Related to EFM JV	$ 600	$ 1,600		$ 900	$ 2,400
Fiscal Quarter [Member]
Line Of Credit Facility [Line Items]
Banking Regulation, Supplementary Leverage Ratio, Maximum	0.0125			0.0125
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Unused credit availability under credit facility	$ 220,500			$ 220,500							123,600
Credit Agreement [Member] \| EFM JV [Member]
Line Of Credit Facility [Line Items]
Equity Ownership Percentage													63.00%
Secured Debt													$ 11,000
Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Secured Debt												$ 400,000
Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Other Long-Term Debt, Current										$ 700,000
Debt Instrument, Basis Spread on Variable Rate			1.00%	1.00%
Amended Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Banking Regulation, Supplementary Leverage Ratio, Maximum	0.045			0.045
Amended Credit Agreement [Member] \| Fiscal Quarter [Member]
Line Of Credit Facility [Line Items]
Banking Regulation, Supplementary Leverage Ratio, Maximum	0.0425			0.0425
2026 Credit Agreement and Amendment
Line Of Credit Facility [Line Items]
Customary closing and underwriting fees	$ 5,000			$ 5,000
Secured Overnight Financing Rate (SOFR) [Member] \| Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.10%	0.10%
Pounds Sterling [Member] \| Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.0326%	0.0326%
Pounds Sterling [Member] \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.0326%	0.0326%
Minimum
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.00%	1.00%
Minimum \| Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Credit Facility Interest Rate	0.75%			0.75%
Debt Instrument, Interest Rate			1.75%	1.75%
Minimum \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Credit Facility Interest Rate	2.00%			2.00%
Debt Instrument, Interest Rate			1.50%	1.50%
Debt Instrument, Basis Spread on Variable Rate			1.00%	1.00%
Minimum \| Amended Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Consolidated Fixed Charge Coverage Ratio	1.00%			1.00%
Minimum \| Amended Credit Agreement [Member] \| Forecast [Member]
Line Of Credit Facility [Line Items]
Leverage ratio step downs						0.01	0.01
Minimum \| Amended Credit Agreement [Member] \| Forecast [Member] \| Fiscal Quarter [Member]
Line Of Credit Facility [Line Items]
Banking Regulation, Supplementary Leverage Ratio, Maximum						0.01	0.01
Minimum \| Canadian Dollar [Member] \| Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.29547%	0.29547%
Minimum \| Canadian Dollar [Member] \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.29547%	0.29547%
Maximum
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.00%	1.00%
Maximum \| Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Credit Facility Interest Rate	2.25%			2.25%
Debt Instrument, Interest Rate			3.25%	3.25%
Maximum \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Credit Facility Interest Rate	0.50%			0.50%
Debt Instrument, Interest Rate			3.00%	3.00%
Maximum \| Amended Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Consolidated Fixed Charge Coverage Ratio	3.00%			3.00%
Maximum \| Amended Credit Agreement [Member] \| Forecast [Member]
Line Of Credit Facility [Line Items]
Leverage ratio step downs						0.04	0.0425
Maximum \| Amended Credit Agreement [Member] \| Forecast [Member] \| Fiscal Quarter [Member]
Line Of Credit Facility [Line Items]
Banking Regulation, Supplementary Leverage Ratio, Maximum						0.035	0.04
Maximum \| Canadian Dollar [Member] \| Third Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.32138%	0.32138%
Maximum \| Canadian Dollar [Member] \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.32138%	0.32138%
Senior Secured Revolving Credit Facility [Member] \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Principal amount									$ 740,000
Incremental Term A-1 Loan Facility [Member] \| Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Principal amount									$ 235,000
Borrowings								$ 235,000
Incremental Term A-1 Loan Facility [Member] \| 2026 Credit Agreement and Amendment
Line Of Credit Facility [Line Items]
Debt issuance costs				$ 2,700
Bank Guarantees [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities	$ 8,900			8,900							3,000
Bank guarantee agreement outstanding amount	46,900			46,900							38,600
Bank Guarantees [Member] \| Maximum
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities	175,000			175,000
Standby Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities	22,500			22,500							23,800
Standby Letters of Credit [Member] \| EFM JV [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount outstanding under the credit facilities	$ 4,700			$ 4,700							$ 5,600

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Contract liability	$ 30,223	$ 15,315
Compensation and related benefits	31,654	21,787
Accrued warranty	9,727	6,796
Short-term operating lease liability	9,112	4,642
Professional fees	5,986	1,908
Other	27,491	7,191
Total accrued expenses	$ 114,193	$ 57,639

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill / Tradename

Goodwill and indefinite life intangible asset activity for the six months ended June 30, 2026 and the year ended December 31, 2025 was as follows:


(in thousands)	Six months ended June 30, 2026						Year ended December 31, 2025
Goodwill / Tradename	Goodwill			Tradename			Goodwill			Tradename
Balance at beginning of period	$	288,163		$	9,705		$	269,747		$	9,466
Acquisitions		1,213,192			—			41,769			—
Divestiture		—			—			(26,838	)		—
Foreign currency translation		(156	)		(60	)		3,485			238
Balance at end of period	$	1,501,199		$	9,645		$	288,163		$	9,705

Intangible Assets - Finite Life

Finite life intangible assets as of June 30, 2026 and December 31, 2025 consisted of the following:


	June 30, 2026					December 31, 2025
(in thousands)	Cost			Accumulated Amortization		Cost		Accumulated Amortization
Technology	$	217,314		$	17,408	$	22,314	$	15,155
Customer lists		713,633			68,029		140,337		62,163
Tradenames and other		163,256			8,318		17,660		6,084
Foreign currency adjustments		(138	)		879		87		31
Total intangible assets – finite life	$	1,094,065		$	94,634	$	180,399	$	83,433

Summary of Finite Lived Intangible Assets Activities

Finite life intangible asset activity for the six months ended June 30, 2026 and 2025 was as follows:


	Six months ended June 30,
(in thousands)	2026			2025
Intangible assets – finite life, net at beginning of period	$	96,966		$	74,050
Amortization expense		(11,792	)		(6,033	)
Acquisitions		917,050			41,810
Divestiture and other		(1,719	)		(4,029	)
Foreign currency adjustments		(1,074	)		1,073
Intangible assets – finite life, net at end of period	$	999,431		$	106,871

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Fair Value Of Financial Instruments [Line Items]
Cash and cash equivalents	$ 61,066	$ 33,144
Cash held outside United States, principally in Netherlands, United Kingdom, China, and Canada	49,100	26,400
Credit Facility [Member]
Fair Value Of Financial Instruments [Line Items]
Fair value of debt issued	$ 736,700	$ 214,200

- Definition

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

+ Details

Divestiture

6 Months Ended

Jun. 30, 2026

Divestiture [Abstract]

Divestiture

15. Divestiture

On March 31, 2025, the Company finalized the sale of its Global Pump Solutions business to a third party for a purchase price of $108.7 million, as adjusted for purchase adjustments. In the third quarter of 2025, the Company agreed to a working capital adjustment with the purchaser that reduced the amount to be released from escrow by $0.8 million, with a corresponding

reduction in the previously recognized gain. The Company received cash proceeds of $107.9 million, inclusive of the purchase price, purchase price adjustments and $2.0 million released from escrow in the third quarter of 2025. The Company recognized a pre-tax gain on sale of business of $63.7 million. The Global Pump Solutions business consisted of three niche leadership severe service industrial metallic, fiberglass and thermoplastic centrifugal pump brands: Dean, Fybroc and Sethco. The business primarily operated from locations in Indianapolis, Indiana and Telford, Pennsylvania, and was included within the Industrial Processing Solutions segment.

Amounts related to the transaction are as follows:


(in thousands)
Proceeds from sale of Global Pump Solutions business	$	107,808
Less: Assets transferred
Accounts receivable, net		(4,230	)
Inventories		(9,268	)
Property and equipment		(5,247	)
Goodwill		(26,838	)
Intangible assets – finite life, net		(4,029	)
Pension plan assets		(425	)
Other assets		(119	)
Less: Transaction costs		(616	)
Plus: Liabilities transferred
Accounts payable		1,024
Accrued expenses		1,731
Other liabilities assumed		3,910
Gain on sale of Global Pump Solutions business	$	63,701

Inventories (Tables)

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026		December 31, 2025
Raw materials	$	95,233	$	15,398
Work in process		45,763		18,026
Finished goods		70,393		20,572
Total inventories	$	211,388	$	53,996

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Amortization expense of finite life intangible assets	$ 7,800	$ 2,900		$ 11,792	$ 6,033
Amortization expense of finite life intangibles for remainder of 2026	28,900			28,900
Amortization expense of finite life intangibles for 2027	70,900			70,900
Amortization expense of finite life intangibles for 2028	68,200			68,200
Amortization expense of finite life intangibles for 2029	63,500			63,500
Amortization expense of finite life intangibles for 2030	62,700			62,700
Amortization expense of finite life intangibles thereafter	705,200			$ 705,200
Finite-Lived intangible assets, Weighted average amortization period				20 years 3 months 18 days
Western Air Ducts [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Impairment charges	$ 1,700
Global Pump Solutions [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Recognized a charge of divestiture business			$ 4,000
Technology [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Finite-Lived intangible assets, Weighted average amortization period				19 years 4 months 24 days
Customer Lists [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Finite-Lived intangible assets, Weighted average amortization period				21 years 7 months 6 days
Tradenames and other [Member]
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Finite-Lived intangible assets, Weighted average amortization period				18 years 9 months 18 days

Business Segment Information - Intra-Segment and Inter-Segment Revenues (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Segment Reporting Information [Line Items]

Net sales

$ 284,961

$ 185,391

$ 490,880

$ 362,088

Share-based compensation

12,848

6,234

(Loss) income before income taxes

(44,578)

14,617

(48,325)

69,676

Operating Segments [Member]

Segment Reporting Information [Line Items]

Net sales

284,961

185,391

490,880

362,088

Segment profit

46,423

37,325

82,690

130,713

Share-based compensation

12,408

2,878

12,848

6,234

Amortization Of Intangible Assets1

7,789

6,033

11,792

6,033

Other corporate expenses

59,409

^[1]

22,935

^[2]

89,363

^[3]

38,516

^[4]

Interest expense

9,102

4,898

13,332

11,115

Other profit or loss

2,293

^[5]

(1,454)

^[6]

3,680

^[7]

(861)

^[8]

(Loss) income before income taxes

(44,578)

14,617

(48,325)

69,676

Operating Segments [Member] | Thermal Solutions Segment [Member]

Segment Reporting Information [Line Items]

49,606

38,088

599

3,762

Project engineering expense

850

General and administrative expense

4,794

Segment profit

1,512

Operating Segments [Member] | Engineered Systems Segment [Member]

Segment Reporting Information [Line Items]

Net sales

173,673

128,460

324,209

248,894

Direct cost of sales

110,257

76,638

205,964

149,703

Shop burden

4,515

3,338

8,995

6,269

Selling expense

8,467

7,933

16,586

15,765

Project engineering expense

4,483

4,729

8,310

9,459

General and administrative expense

9,951

9,185

18,534

18,225

Gain on sale of Global Pump Solutions business

Segment profit

36,000

26,639

65,822

49,472

Operating Segments [Member] | Industrial Process Solutions Segment [Member]

Segment Reporting Information [Line Items]

Net sales

61,682

56,931

117,065

113,195

Direct cost of sales

42,124

36,078

80,686

71,717

Shop burden

2,910

2,230

6,160

5,129

Selling expense

3,075

2,857

6,007

6,587

Project engineering expense

2,453

2,803

4,703

5,675

General and administrative expense

2,210

2,278

4,154

6,547

Gain on sale of Global Pump Solutions business

(63,701)

Segment profit

$ 8,910

$ 10,686

$ 15,356

$ 81,241

[1]	Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
[2]	Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
[3]	Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
[4]	Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
[5]	Includes foreign exchange (gain) loss.
[6]	Includes foreign exchange (gain) loss.
[7]	Includes foreign exchange (gain) loss.
[8]	Includes foreign exchange (gain) loss and pension expense.

Business Segment Information - Long-lived assets by geographic area (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Segment Reporting Information [Line Items]
Total Long-Lived Assets	$ 2,753,938	$ 483,587
US
Segment Reporting Information [Line Items]
Total Long-Lived Assets	2,565,411	359,584
CN
Segment Reporting Information [Line Items]
Total Long-Lived Assets	41,056	39,205
GB
Segment Reporting Information [Line Items]
Total Long-Lived Assets	24,807	27,761
CA
Segment Reporting Information [Line Items]
Total Long-Lived Assets	57,968	8,492
Other
Segment Reporting Information [Line Items]
Total Long-Lived Assets	$ 64,696	$ 48,545

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Business Segment Information - Net sales by geographic area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting Information [Line Items]
Net sales	$ 284,961	$ 185,391	$ 490,880	$ 362,088
US
Segment Reporting Information [Line Items]
Net sales	180,619	120,204	317,165	230,875
NL
Segment Reporting Information [Line Items]
Net sales	26,212	15,763	43,775	26,989
CA
Segment Reporting Information [Line Items]
Net sales	18,815	5,390	23,080	10,747
CN
Segment Reporting Information [Line Items]
Net sales	18,814	13,563	33,369	28,357
GB
Segment Reporting Information [Line Items]
Net sales	11,646	12,470	24,678	32,027
Other
Segment Reporting Information [Line Items]
Net sales	$ 28,855	$ 18,001	$ 48,813	$ 33,093

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Recent Financial Accounting Pronouncements (Policies)	6 Months Ended
Recent Financial Accounting Pronouncements (Policies)	Jun. 30, 2026
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Adopted in Fiscal 2026	Accounting Standards Adopted in Fiscal 2026 Effective January 1, 2026, the Company adopted ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which introduces a practical expedient for estimating credit losses on current accounts receivable and contract assets. Adoption did not have a material impact on the Company's condensed consolidated financial statements.
Accounting Standards to be Adopted	Accounting Standards to be Adopted In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes references to project stages, and requires capitalization of software costs to begin when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the intended function. The ASU is effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which addresses expense disclosure requirements, primarily the disaggregation of expense captions. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s consolidated financial statements.

Acquisitions - Additional Information (Detail) $ / shares in Units, € in Millions				1 Months Ended	3 Months Ended				6 Months Ended
	Jun. 01, 2026 USD ($) $ / shares shares	Feb. 13, 2026 USD ($)	Jan. 03, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2026 USD ($)	Mar. 31, 2026 USD ($)	Jun. 30, 2025 USD ($)	Mar. 31, 2025 USD ($)	Jun. 30, 2026 EUR (€)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	May 29, 2026 $ / shares
Business Acquisition Contingent Consideration [Line Items]
Repayment of Thermon indebtedness	$ 141,682,000
Acquisition and integration expense					$ 45,461,000		$ 32,000			$ 55,742,000	$ 8,175,000
Net (loss) income					(34,489,000)	$ (248,000)	10,106,000	$ 36,442,000		(34,736,000)	46,549,000
Net income attributable to CECO Environmental Corp.					(34,768,000)		$ 9,510,000			(35,166,000)	$ 45,494,000
Revenues \| €									€ 750
Land, Building and Improvements
Business Acquisition Contingent Consideration [Line Items]
Property and equipment				$ 14,700,000	14,700,000					14,700,000
Vehicles
Business Acquisition Contingent Consideration [Line Items]
Property and equipment				2,100,000	2,100,000					2,100,000
Other Machinery and Equipment
Business Acquisition Contingent Consideration [Line Items]
Property and equipment				600,000	600,000					600,000
Thermon Group Holdings, Inc.
Business Acquisition Contingent Consideration [Line Items]
Consideration received per share \| $ / shares	$ 79.03											$ 61.14
Consideration Received (Per Share) \| $ / shares	$ 63.89
Shares Converted \| shares	0.811
Share value of cash and stock consideration	$ 64
Acquisition of equity												4.70%
Fair values of the assets acquired and liabilities assumed and allocated to goodwill	1,210,500,000
Acquisition Related Costs					22,600,000					34,300,000
Acquisition and integration expense										8,900,000
Fair value				9,500,000
Property and equipment	$ 129,785,000
Net (loss) income				(3,600,000)
Net income attributable to CECO Environmental Corp.				(5,300,000)
Revenues				49,600,000
Transaction costs										34,300,000
Thermon Group Holdings, Inc. \| Technology
Business Acquisition Contingent Consideration [Line Items]
Intangible assets, Useful Life	20 years
Thermon Group Holdings, Inc. \| Customer lists \| Minimum
Business Acquisition Contingent Consideration [Line Items]
Intangible assets, Useful Life	20 years
Thermon Group Holdings, Inc. \| Customer lists \| Maximum
Business Acquisition Contingent Consideration [Line Items]
Intangible assets, Useful Life	25 years
Thermon Group Holdings, Inc. \| Tradenames
Business Acquisition Contingent Consideration [Line Items]
Intangible assets, Useful Life	20 years
Thermon Group Holdings, Inc. \| Backlog
Business Acquisition Contingent Consideration [Line Items]
Intangible assets, Useful Life	3 years
Thermon Group Holdings, Inc. \| Common Stock
Business Acquisition Contingent Consideration [Line Items]
Consideration received per share \| $ / shares	$ 10
Consideration Received (Per Share) \| $ / shares	$ 0.684
Flexible Specialty Products LLC
Business Acquisition Contingent Consideration [Line Items]
Cash Acquired from Acquisition		$ 6,800,000
Earn out, Fair value		3,300,000
Earnout Payments		4,000,000
Acquired intangible assets		$ 6,100,000
Intangible assets, Useful Life		10 years
Net assets acquired		$ 10,050,000
Net income attributable to CECO Environmental Corp.					500,000					700,000
Revenues					1,400,000					1,800,000
Profire Energy Inc
Business Acquisition Contingent Consideration [Line Items]
Repayment of Thermon indebtedness			$ 122,700,000
Acquisition and integration expense			2,300,000
Deferred cash consideration			4,600,000
Property and equipment			17,416,000
Net assets acquired			$ 120,382,000
Profire Energy Inc \| Technology
Business Acquisition Contingent Consideration [Line Items]
Acquired intangible assets				$ 3,600,000	$ 3,600,000					$ 3,600,000
Intangible assets, Useful Life				7 years	7 years					7 years
Profire Energy Inc \| Customer lists
Business Acquisition Contingent Consideration [Line Items]
Acquired intangible assets				$ 34,500,000	$ 34,500,000					$ 34,500,000
Intangible assets, Useful Life				10 years	10 years					10 years
Profire Energy Inc \| Tradenames
Business Acquisition Contingent Consideration [Line Items]
Acquired intangible assets				$ 3,700,000	$ 3,700,000					$ 3,700,000
Intangible assets, Useful Life				10 years	10 years					10 years

Acquisitions

6 Months Ended

Jun. 30, 2026

Business Combination [Abstract]

Acquisitions

14. Acquisitions

Thermon Group Holdings, Inc.

On June 1, 2026 (the “Closing Date”), the Company completed its merger (the "Merger") with Thermon Group Holdings, Inc. (“Thermon”), pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) dated February 23, 2026, entered into by the Company with Longhorn Merger Sub, Inc. and Longhorn Merger Sub LLC, each a direct wholly owned subsidiary of the Company (together, the “Merger Subs”) and Thermon. Pursuant to the Merger Agreement, on the Closing Date, Merger Sub Inc. merged with and into Thermon (the “First Merger”), with Thermon surviving the First Merger as a wholly owned subsidiary of CECO. Immediately after the First Merger, Thermon merged with and into Merger Sub LLC (the “Second Merger”), with Merger Sub LLC surviving the Second Merger as a wholly owned subsidiary of CECO. In connection with the Second Merger, the name of the surviving entity was changed to Thermon Group Holdings, LLC. The First Merger and the Second Merger are collectively referred to as the “Merger.”

The Merger was accounted for as a business combination under ASC 805 Business Combinations, with the Company identified as the accounting acquirer. Concurrently with the execution of the Merger Agreement, on February 23, 2026, the Company entered into the financing (as further described in Note 8), which was also completed on June 1, 2026.

Under the terms of the Merger Agreement, each holder of Thermon common stock ("Thermon Common Stock", and "Thermon Shareholders") had the ability to elect to receive, for each share of Thermon Common Stock they own, one of the following forms of consideration: (i) consideration consisting of $10.00 in cash and 0.6840 shares of CECO common stock (“Mixed

Consideration”), (ii) consideration of $63.89 per share (“All-Cash Consideration”), or (iii) consideration of 0.8110 shares of CECO common stock per share (“All-Stock Consideration”), in each case subject to proration and allocation procedures designed to ensure that the aggregate amount of cash and stock paid in the transaction does not exceed certain limits specified in the Merger Agreement. Thermon Shareholders who did not make an election received the Mixed Consideration. The share value of the Mixed, All-Cash Consideration, and All-Stock Consideration are all approximately $64, based on the closing stock price of $79.03 per share of CECO on June 1, 2026, which represents an approximate 4.7% premium to the closing stock price of $61.14 per share of Thermon on its last day of trading on May 29, 2026. Per the Merger Agreement, Thermon’s existing restricted stock units (“RSU Awards”) and performance unit awards (“PU Awards”) were assumed by the Company and converted into awards based on the Company's common stock, while in‑the‑money stock options (“In-the-Money Options”) were cancelled in exchange for cash consideration equal to the All-Cash Consideration less the exercise price per share of Thermon Common Stock subject to the In-the-Money Options, as of immediately prior to the closing (the “Option Consideration”), and out‑of‑the‑money options were cancelled for no consideration. Under the provisions of the Merger Agreement, the Company elected to cancel the RSU Awards and PU Awards held by individuals residing or providing services outside the U.S. at closing (“Non-U.S. Award”), and pay cash consideration equal to the number of underlying shares multiplied by the per‑share All-Cash Consideration (“Non-U.S. Award Cash Consideration”). The following table summarizes the fair value of consideration transferred for the Merger:


	Amount
Mixed Consideration (Mixed elections and non-electors)
Stock component
Number of Thermon's Common Stock shares		17,231,130
Exchange ratio per Merger Agreement		0.6840
Number of CECO Common Stock shares issued to Thermon shareholders		11,786,093
CECO Common Stock closing price as of June 1, 2026	$	79.03
Consideration in the form of CECO's Common Stock	$	931,455
Cash component
Number of Thermon's Common Stock shares		17,231,130
Per Share Cash Consideration	$	10.00
Consideration in form of cash	$	172,311
Total Mixed Consideration	$	1,103,766
Cash Consideration
Number of Thermon's Common Stock shares		2,142,408
Per share Cash Consideration	$	63.89
All-Cash Consideration	$	136,878
Cash issued due to Maximum Aggregate Stock Shares proration per the Merger Agreement	$	20,207
Total Cash Consideration	$	157,085
Stock Consideration
Number of Thermon's Common Stock shares		13,566,156
Exchange ratio per Merger Agreement		0.8110
Number of CECO Common Stock shares		11,002,153
Less: CECO Common Stock shares due to Maximum Aggregate Stock Shares proration per the Merger Agreement		(257,495	)
Number of CECO Common Stock shares issued pursuant to the Maximum Aggregate Stock Shares proration per the Merger Agreement		10,744,658
CECO Common Stock closing price as of June 1, 2026	$	79.03
Total Stock Consideration	$	849,150
Fractional Shares	$	68
Total Merger Consideration per the Merger Agreement	$	2,110,069
Pre-combination value of replaced Thermon equity awards	$	11,609
Cash settlement of Thermon equity awards	$	2,111
Repayment of Thermon indebtedness	$	141,682
Less: D&O tail insurance premium	$	(1,371	)
Total preliminary consideration transferred	$	2,264,100

The purchase price was allocated, on a preliminary basis, among assets acquired and liabilities assumed based on available information. The determination of the estimated fair value of assets acquired requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, royalty rates, customer attrition rates, asset lives, and market multiples, among other items. Fair values were determined by management using a variety of methodologies and resources, including external independent valuation experts. The valuation methods consisted of multi-period excess earnings, relief from royalty, current replacement cost, and other valuation techniques to determine the fair value of assets acquired and liabilities assumed.

The Company preliminarily recognized fair values of the assets acquired and liabilities assumed and allocated $1,210.5 million to goodwill. Goodwill primarily represents expected synergies from combining operations, expanded market opportunities, acquired workforce, future technologies, and other benefits that do not qualify for separate recognition. Goodwill is not expected to be deductible for income tax purposes.

The preliminary allocation of the purchase price is subject to change as the Company continues to obtain and assess relevant information that existed as of the acquisition date. A final determination of the fair value of assets acquired, including any identifiable intangible assets, and liabilities assumed will be performed within one year of the Closing Date. The preliminary allocation of the total estimated purchase consideration is as follows:


(in thousands)	Preliminary Fair Value
Total preliminary consideration transferred	$	2,264,100
Assets
Cash and cash equivalents		35,724
Restricted cash		5,831
Accounts receivable		103,832
Costs and estimated earnings in excess of billings on uncompleted contracts		28,138
Inventories		158,366
Prepaid expenses and other current assets		10,182
Prepaid income taxes		1,235
Property, plant and equipment		129,785
Right-of-use assets from operating leases		15,097
Intangible assets – finite life		911,000
Deferred charges and other assets		11,681
Total assets	$	1,410,871
Liabilities
Accounts payable		37,569
Accrued liabilities		79,570
Billings in excess of costs and estimated earnings on uncompleted contracts		8,349
Income taxes payable		2,185
Deferred income tax liability		207,797
Operating lease liabilities		12,334
Other liabilities		9,438
Total liabilities		357,242
Net assets		1,053,629
Goodwill	$	1,210,471

Acquired intangible assets consisted of the following:


(in thousands)	Amount
Technology		195,000
Customer lists		570,000
Tradenames		120,000
Backlog		26,000
Total acquired intangible assets	$	911,000

Acquired intangible assets are amortized on a straight line or accelerated basis over their estimated useful lives of approximately 20 years for technology, 20 to 25 years for customer lists, 20 years for tradenames, and 3 years for customer backlog. From the

June 1, 2026 Closing Date through June 30, 2026, Thermon accounted for $49.6 million in revenue, and $5.3 million in net loss, in the Company's results. Thermon's net loss includes the impact of $3.6 million of intangible amortization from the Closing Date through June 30, 2026, as well as a $9.5 million charge related to the recognition of costs stemming from the step up of fair value of inventory.

Total acquisition-related costs related to the Thermon acquisition of $22.6 million and $34.3 million were reported in "Acquisition and integration expense" on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026.

The Company incurred approximately $8.9 million of acquisition-related costs associated with executive transition and separation arrangements for certain legacy Thermon executives in connection with the acquisition. These costs were recorded within "Acquisition and other integration expenses" in the Condensed Consolidated Statements of Operations.

Flexible Specialty Products LLC

On February 13, 2026, the Company, through its PPI JV, completed its acquisition of FSP for $6.8 million in cash. The transaction was financed through cash on hand. As additional consideration in the acquisition of FSP, the former owners of FSP are also entitled to earn-out payments up to $4.0 million based upon specified financial results through December 31, 2029. Based on projections at the acquisition date, the Company estimated the fair value of the earn-out to be $3.3 million. FSP is a custom manufacturer and supplier of industrial fabric expansion joints, metal bellows, metal hose, and other specialty flexible connectors for ductwork and piping with its primary operations in Englewood, Florida and is reported within the Engineered Systems segment. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of closing.


(in thousands)
Current assets (including cash of $134 and accounts receivable of $861)	$	1,420
Intangible - finite life		6,050
Goodwill		2,671
Other assets		447
Total assets acquired		10,588
Current liabilities assumed		(247	)
Other liabilities assumed		(291	)
Net assets acquired	$	10,050

The Company acquired customer lists intangible assets valued at $6.1 million. This asset was determined to have a useful life of 10 years.

During the three and six months ended June 30, 2026, FSP accounted for $1.4 million and $1.8 million in revenue, respectively, and $0.5 million and $0.7 million in net income, respectively, in the condensed consolidated results.

Profire Energy, Inc.

On January 3, 2025, the Company acquired all outstanding shares of Profire for $122.7 million in cash, including $4.6 million of cash used to settle outstanding equity awards for which $2.3 million represents the acceleration of such awards and thus recorded within "Acquisition and integration expenses" on the Condensed Consolidated Statements of Operations. Resulting consideration transferred for the acquisition was $120.4 million. The transaction was financed through a combination of cash on hand and a draw on the Company's revolving credit facility. Profire is a technology company and provider of intelligent control solutions that enhance the efficiency, safety, and reliability of industrial combustion appliances. The business operates primarily from locations in Lindon, Utah and Acheson, Alberta and is reported within the Engineered Systems segment. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of closing.


(in thousands)
Current assets (including cash and cash equivalents of $22,675 and accounts receivable of $14,151)	$	54,867
Property and equipment		17,416
Intangible - finite life		41,810
Goodwill		25,572
Other assets		801
Total assets acquired		140,466
Current liabilities assumed		(8,567	)
Deferred income tax liability		(11,226	)
Other liabilities assumed		(291	)
Net assets acquired	$	120,382

The Company acquired property and equipment consisting of $14.7 million of land, building and improvements, $2.1 million of vehicles, and $0.6 million of machinery and equipment and other.

The Company acquired technology, customer lists, and tradename intangible assets valued at $3.6 million, $34.5 million, and $3.7 million, respectively. These assets were determined to have useful lives of 7, 10, and 10 years, respectively.

The acquisitions disclosed above, with the exception of Profire, are subject to final adjustment, primarily for the valuation of intangible assets pending final valuation results for such assets and tax balances for the further assessment of the acquiree’s tax positions. These preliminary estimates and assumptions could change significantly during the purchase price measurement period as the Company finalizes the valuation of assets acquired and liabilities assumed. These changes could result in material variances in the Company's future financial results, including variances in the estimated purchase price, fair values recorded and expenses associated with these items.

Goodwill recognized represents value the Company expects to be created by combining the various operations of the acquired businesses with the Company’s operations, including the expansion into markets within existing business segments, access to new customers and potential cost savings and synergies. Goodwill related to these acquisitions is not deductible for tax purposes. Acquisition and integration expenses, recorded within "Other operating expenses" on the Condensed Consolidated Statements of Operations are related to acquisition activities, which include retention, legal, accounting, banking, and other expenses.

The unaudited supplemental pro forma information is based on estimates and assumptions that the Company believes are reasonable and reflects the effects of the Thermon acquisition and related financing, including the recognition of certain cost of sales and acquired intangible assets, depreciation of acquired property, plant and equipment, amortization of the prepaid directors' and officers' ("D&O") liability insurance tail policy required under the Merger Agreement, incremental share-based compensation expense associated with the conversion and cash settlement of Thermon equity awards, and incremental interest expense, including the amortization of deferred financing costs. Material, nonrecurring pro forma adjustments directly attributable to the Thermon acquisition include transaction costs of $34.3 million that were incurred during the six months ended June 30, 2026, which are assumed to have occurred on the pro forma closing date of January 1, 2025 and recognized as if incurred in the first quarter of 2025.

The unaudited supplemental pro forma information is presented for informational purposes only and does not purport to represent what the Company's results of operations would have been had the acquisition of Thermon and the related financing occurred on January 1, 2025, nor is it necessarily indicative of future operating results.


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2026		2025		2026		2025
Net sales	$	359,763	$	294,289	$	714,014	$	605,066
Net income (loss) attributable to CECO Environmental Corp.		16,403		1,992		13,376		(19,470	)

- Definition

The entire disclosure for business combination.

+ References

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+ Details

Divestiture (Tables)

6 Months Ended

Jun. 30, 2026

Divestiture [Abstract]

Summary of Amounts Related to the Transaction

Amounts related to the transaction are as follows:


(in thousands)
Proceeds from sale of Global Pump Solutions business	$	107,808
Less: Assets transferred
Accounts receivable, net		(4,230	)
Inventories		(9,268	)
Property and equipment		(5,247	)
Goodwill		(26,838	)
Intangible assets – finite life, net		(4,029	)
Pension plan assets		(425	)
Other assets		(119	)
Less: Transaction costs		(616	)
Plus: Liabilities transferred
Accounts payable		1,024
Accrued expenses		1,731
Other liabilities assumed		3,910
Gain on sale of Global Pump Solutions business	$	63,701

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2026	Aug. 03, 2026
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Trading Symbol	CECO
Entity Registrant Name	CECO ENVIRONMENTAL CORP.
Entity Central Index Key	0000003197
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity File Number	0-07099
Entity Tax Identification Number	13-2566064
Entity Address, Address Line One	5080 Spectrum Drive
Entity Address, Address Line Two	Suite 800E
Entity Address, City or Town	Addison
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75001
City Area Code	214
Local Phone Number	357-6181
Entity Common Stock, Shares Outstanding		58,569,830
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Document Transition Report	false
Document Quarterly Report	true
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE

Accounts Receivable - Provision for Credit Losses Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 9,866	$ 8,863
Write-offs	(493)	(1,166)
(Recovery) allowance for credit loss	(1,539)	1,297
Balance at end of period	$ 7,834	$ 8,994

Financial Instruments

6 Months Ended

Jun. 30, 2026

Investments, All Other Investments [Abstract]

Financial Instruments

12. Financial Instruments

The Company's financial instruments consist primarily of investments in cash and cash equivalents, receivables and certain other assets, notes payable, and accounts payable, which approximate fair value at June 30, 2026 and December 31, 2025, due to their short-term nature or variable, market-driven interest rates.

The fair value of the debt issued under the Credit Facility and joint venture term loan was $736.7 million and $214.2 million at June 30, 2026 and December 31, 2025, respectively. The fair value was determined considering market conditions, the Company's credit worthiness and the current terms of our debt, which is considered Level 2 on the fair value hierarchy.

At June 30, 2026 and December 31, 2025, the Company had cash and cash equivalents of $61.1 million and $33.1 million, respectively, of which $49.1 million and $26.4 million, respectively, was held outside of the United States, principally in China, Canada, India, Netherlands, United Arab Emirates, and United Kingdom.

Divestiture (Additional Information) (Details) - Global Pump Solutions [Member] $ in Millions	3 Months Ended
	Mar. 31, 2025 USD ($)
Divestiture [Line Items]
Purchase Price	$ 108.7
Cash received	107.9
Purchase price adjustments	0.8
Other additional amount	2.0
Pre tax gain on sale of business	$ 63.7

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Share-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

10. Share-Based Compensation

The Company recognized $12.4 million and $2.9 million of expense related to share-based compensation during the three months ended June 30, 2026 and 2025, respectively, and $12.8 million and $6.2 million during the six months ended June 30, 2026 and 2025, respectively, which was measured based upon the fair value of the awards at the grant date. Included in current period expense was $8.5 million of share-based compensation expense recognized in connection with the accelerated vesting of certain legacy Thermon equity awards triggered by the acquisition. This was recorded to "Acquisition and integration expense" on the Condensed Consolidated Statements of Operations.

The Company granted approximately 25,243 and 203,000 restricted stock units during the three months ended June 30, 2026 and 2025, respectively, and approximately 251,712 and 590,000 restricted stock units during the six months ended June 30, 2026 and 2025, respectively. In addition, the Company granted 17,563 and 67,000 stock options during the six months ended June 30, 2026 and 2025, respectively. No stock options were granted during the three months ended June 30, 2026 and 2025.

There were no options exercised during the three and six months ended June 30, 2026 or 2025.

Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2026

Receivables [Abstract]

Summary of Accounts Receivable

Accounts receivable as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026			December 31, 2025
Accounts receivable	$	466,824		$	182,775
Allowance for credit losses		(7,834	)		(9,866	)
Total accounts receivable, net	$	458,990		$	172,909

Schedule of Provision for Credit Losses Activity

Allowance for credit losses activity for the six months ended June 30, 2026 and 2025 consisted of the following:


	Six months ended June 30,
(in thousands)	2026			2025
Balance at beginning of period	$	9,866		$	8,863
Write-offs		(493	)		(1,166	)
(Recovery) allowance for credit loss		(1,539	)		1,297
Balance at end of period	$	7,834		$	8,994

Contract Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

Table Text Block [Abstract]

Summary of Contract Assets and Liabilities

Contract assets and liabilities as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026		December 31, 2025
Costs and estimated earnings in excess of billings on uncompleted contracts	$	139,342	$	115,614
Billings in excess of costs and estimated earnings on uncompleted contracts		323,920		123,726

(Loss) Earnings per Share - Number of Shares Outstanding for Calculation of Earnings Per Share (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
us-gaap:NetIncomeLoss	$ (34,768)	$ 9,510	$ (35,166)	$ 45,494
Denominator
Basic weighted-average shares outstanding	43,310,506	35,286,065	39,521,709	35,157,514
Common stock equivalents arising from stock options and restricted stock awards	0	1,272,000	0	1,467,000
Diluted weighted-average shares outstanding	43,310,506	36,558,493	39,521,709	36,624,237
Scenario [Member]
Denominator
Diluted weighted-average shares outstanding			39,522,000	36,625,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

(Loss) Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Number of Shares Outstanding for Calculation of Earnings Per Share

The computational components of basic and diluted (loss) earnings per share for the three months ended June 30, 2026 and 2025 are as follows:


	Three months ended June 30,
(in thousands)	2026			2025
Numerator (for basic and diluted earnings per share)
Net (loss) income attributable to CECO Environmental Corp.	$	(34,768	)	$	9,510

Denominator
Basic weighted-average shares outstanding		43,311			35,286
Common stock equivalents arising from stock options and restricted stock awards		—			1,272
Diluted weighted-average shares outstanding		43,311			36,558

The computational components of basic and diluted (loss) earnings per share for the six months ended June 30, 2026 and 2025 are as follows:


	Six months ended June 30,
(in thousands)	2026			2025
Numerator (for basic and diluted earnings per share)
Net (loss) income attributable to CECO Environmental Corp.	$	(35,166	)	$	45,494

Denominator
Basic weighted-average shares outstanding		39,522			35,158
Common stock equivalents arising from stock options and restricted stock awards		—			1,467
Diluted weighted-average shares outstanding		39,522			36,625

Business Segment Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Business Segment Information

16. Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines or end markets that the segment serves and are presented in three reportable segments. Segment profit is reviewed quarterly by the chief operating decision maker ("CODM"), which is the Company's Chief Executive Officer, for the purposes of allocating resources, including personnel, capital, and financial resources, and assessing performance, including the monitoring of budget versus actual results. During the fourth quarter of 2025, management updated the definition of the segment profit measure used by the CODM. The presentation of prior period segment information has been recast to conform to this updated measure. During the second quarter of 2026, the Thermal Solutions segment was created following the acquisition of Thermon. Asset information by segment is not reported internally or otherwise regularly reviewed by the CODM.

The Company’s reportable segments are organized as groups of similar products and services, as described as follows:

Engineered Systems: The Company's Engineered Systems segment serves the power generation, hydrocarbon processing,
water/wastewater treatment, oily water separation and treatment, marine and naval vessels, and midstream oil and gas sectors. The Company seeks to address the global demand for environmental and equipment protection solutions with its highly engineered platforms including emissions management, fluid bed cyclones, thermal acoustics, separation and filtration, and dampers and expansion joints.

Industrial Process Solutions: The Company's Industrial Process Solutions segment serves the broad industrial sector with
solutions for air pollution and contamination control, fluid handling, and process filtration in applications such as aluminum beverage can production, automobile production, food and beverage processing, semiconductor fabrication, electronics production, steel and aluminum mill processing, wood manufacturing, desalination, and aquaculture markets. The Company assists customers in maintaining clean and safe operations for employees, reducing energy consumption, minimizing waste for customers, and meeting regulatory standards for toxic emissions, fumes, volatile organic compounds, and odor elimination through its platforms including duct fabrication and installation, industrial air, and fluid handling.

Thermal Solutions: The Company's Thermal Solutions segment serves the general industrial, chemical and petrochemical, oil, gas, power generation, commercial, food and beverage processing, and rail and transit sectors. The Company, through this segment, offers a full suite of products including heating units, electrode and gas-fired boilers, heating cables, industrial heating

blankets and related products, temporary power solutions and tubing bundles, engineering, installation and maintenance services, and software design optimization and wireless and network control systems.

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit from operations to total consolidated net loss before taxes is as follows for the three months ended June 30, 2026:


(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions		Total
Net sales	$	49,606	$	173,673	$	61,682	$	284,961
Direct cost of sales		38,088		110,257		42,124
Shop burden		599		4,515		2,910
Selling expense		3,762		8,467		3,075
Project engineering expense		850		4,483		2,453
General and administrative expense		4,794		9,951		2,210
Segment profit		1,512		36,000		8,910		46,423
Share-based compensation								12,408
Amortization of intangible assets								7,789
Other corporate expenses(1)								59,409
Interest expense								9,102
Other profit or loss(2)								2,293
Total consolidated loss before income taxes							$	(44,578	)

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.


(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions		Total
Net sales	$	49,606	$	324,209	$	117,065	$	490,880
Direct cost of sales		38,088		205,964		80,686
Shop burden		599		8,995		6,160
Selling expense		3,762		16,586		6,007
Project engineering expense		850		8,310		4,703
General and administrative expense		4,794		18,534		4,154
Segment profit		1,512		65,822		15,356		82,690
Share-based compensation								12,848
Amortization of intangible assets								11,792
Other corporate expenses(1)								89,363
Interest expense								13,332
Other profit or loss(2)								3,680
Total consolidated loss before income taxes							$	(48,325	)

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.

Other segment information is as follows for the three and six months ended June 30, 2026:


	Three months ended June 30, 2026
(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions
Property and equipment additions	$	1,756	$	1,165	$	128
Depreciation and amortization(1)		4,328		3,835		2,317


	Six months ended June 30, 2026
(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions
Property and equipment additions	$	1,756	$	1,825	$	314
Depreciation and amortization(1)		4,328		6,750		4,432

(1) The amounts of depreciation and amortization disclosed by reportable segment are included within other segment expense captions, such as shop burden or general and administrative expense.

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit to total consolidated net income before taxes is as follows for the three months ended June 30, 2025:


(in thousands)	Engineered Systems		Industrial Process Solutions		Total
Net sales	$	128,460	$	56,931	$	185,391
Direct cost of sales		76,638		36,078
Shop burden		3,338		2,230
Selling expense		7,933		2,857
Project engineering expense		4,729		2,803
General and administrative expense		9,185		2,278
Gain on sale of Global Pump Solutions business		—		-
Segment profit		26,639		10,686		37,325
Share-based compensation						2,878
Amortization of intangible assets						6,033
Other corporate expenses(1)						22,935
Interest expense						4,898
Other profit or loss(2)						(1,454	)
Total consolidated income before income taxes					$	14,617

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit to total consolidated net income before taxes is as follows for the six months ended June 30, 2025:


(in thousands)	Engineered Systems		Industrial Process Solutions			Total
Net sales	$	248,894	$	113,195		$	362,088
Direct cost of sales		149,703		71,717
Shop burden		6,269		5,129
Selling expense		15,765		6,587
Project engineering expense		9,459		5,675
General and administrative expense		18,225		6,547
Gain on sale of Global Pump Solutions business		—		(63,701	)
Segment profit		49,472		81,241			130,713
Share-based compensation							6,234
Amortization of intangible assets							6,033
Other corporate expenses(1)							38,516
Interest expense							11,115
Other profit or loss(2)							(861	)
Total consolidated income before income taxes						$	69,676

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss and pension expense.

Other segment information is as follows for the three and six months ended June 30, 2025:


	Three months ended June 30, 2025				Six months ended June 30, 2025
(in thousands)	Engineered Systems		Industrial Process Solutions		Engineered Systems		Industrial Process Solutions
Property and equipment additions	$	512	$	328	$	1,206	$	961
Depreciation and amortization(1)		2,113		1,864		4,098		4,188

(1) The amounts of depreciation and amortization disclosed by reportable segment are included within other segment expense captions, such as shop burden or general and administrative expense.

Geographic Information

Net sales by geographic area are as follows:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2026		2025		2026		2025
United States	$	180,619	$	120,204	$	317,165	$	230,875
Netherlands		26,212		15,763		43,775		26,989
Canada		18,815		5,390		23,080		10,747
China		18,814		13,563		33,369		28,357
United Kingdom		11,646		12,470		24,678		32,027
Other		28,855		18,001		48,813		33,093
Total net sales	$	284,961	$	185,391	$	490,880	$	362,088

The geographical area data for net sales is based upon the country location of the Company's business unit generating such sales.

Long-lived assets by geographic area are as follows:


(in thousands)	June 30, 2026		December 31, 2025
United States	$	2,565,411	$	359,584
China		41,056		39,205
United Kingdom		24,807		27,761
Canada		57,968		8,492
Other		64,696		48,545
Total long-lived assets	$	2,753,938	$	483,587

The geographical area data for long-lived assets is based upon physical location of such assets.

- Definition

The entire disclosure for segment reporting.

+ References

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-Topic 280
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Divestiture - Schedule of Amounts Related to the Transaction (Details) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 01, 2026	Dec. 31, 2025	Dec. 31, 2024
Divestiture [Line Items]
Goodwill	$ 1,501,199,000			$ 288,163,000	$ 269,747,000
Intangible assets - finite life, net	(999,431,000)	$ (106,871,000)		$ (96,966,000)	$ (74,050,000)
Less: D&O "tail" insurance premium			$ (1,371,000)
Gain on sale of Global Pump Solutions business	0	$ 64,502,000
Global Pump Solutions [Member]
Divestiture [Line Items]
Proceeds from sale of Global Pump Solutions business	107,808,000
Accounts receivable, net	(4,230,000)
Inventories	(9,268,000)
Property and equipment	(5,247,000)
Goodwill	(26,838,000)
Intangible assets - finite life, net	(4,029,000)
Pension plan assets	(425,000)
Other Assets	(119,000)
Less: D&O "tail" insurance premium	(616,000)
Accounts Payable	1,024,000
Accrued expenses	1,731,000
Other liabilities assumed	3,910,000
Gain on sale of Global Pump Solutions business	$ 63,701,000

Goodwill and Intangible Assets - Goodwill / Tradename (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]
Goodwill, balance at beginning of period	$ 288,163	$ 269,747
Goodwill, Acquisitions	1,213,192	41,769
Goodwill, Divestitures	0	(26,838)
Goodwill, foreign currency translation	(156)	3,485
Goodwill, balance at end of period	1,501,199	288,163
Tradename, balance at beginning of period	9,705	9,466
Tradename, Acquisitions	0	0
Tradename, Divestiture	0	0
Tradename, foreign currency translation	(60)	238
Tradename, balance at end of period	$ 9,645	$ 9,705

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

Accrued Expenses

6 Months Ended

Jun. 30, 2026

Payables and Accruals [Abstract]

Accrued Expenses

7. Accrued Expenses

Accrued expenses as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026		December 31, 2025
Contract liability	$	30,223	$	15,315
Compensation and related benefits		31,654		21,787
Accrued warranty		9,727		6,796
Short-term operating lease liability		9,112		4,642
Professional fees		5,986		1,908
Other		27,491		7,191
Total accrued expenses	$	114,193	$	57,639

Income Taxes

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

The Company files income tax returns in various federal, state and local jurisdictions. Tax years from 2021 forward remain open for examination by Federal authorities. Tax years from 2018 forward remain open for all significant state and foreign authorities.

As of June 30, 2026 and December 31, 2025, the liability for uncertain tax positions totaled approximately $1.4 million and $1.3 million, respectively, which is included in “Other liabilities” on the Condensed Consolidated Balance Sheets. The Company recognizes accrued interest related to uncertain tax positions and penalties, if any, in income tax expense within the Condensed Consolidated Statements of Operations.

Certain of the Company’s undistributed earnings of our foreign subsidiaries are not permanently reinvested. Since foreign earnings have already been subject to United States income tax in 2017 as a result of the 2017 Tax Cuts and Jobs Act, the Company intends to repatriate foreign-held cash as needed. The Company records deferred income tax attributable to foreign withholding taxes that would become payable should it decide to repatriate cash held in our foreign operations. As of June 30, 2026 and December 31, 2025, the Company recorded deferred income taxes of approximately $1.7 million and $1.1 million, respectively, on the undistributed earnings of its foreign subsidiaries.

Income tax benefit was $10.1 million for the three months ended June 30, 2026, compared with income tax expense of $4.5 million for the three months ended June 30, 2025. Income tax benefit was $13.6 million for the six months ended June 30, 2026 compared with income tax expense of $23.1 million for the six months ended June 30, 2025. The effective income tax rate for the three months ended June 30, 2026 was 22.6% compared with 30.9% for the three months ended June 30, 2025, and the effective income tax rate for the six months ended June 30, 2026 was 28.1% compared with 33.2% for the six months ended June 30, 2025. The effective income tax rates for the three and six months ended June 30, 2026 and 2025 differ from the United States federal statutory rate due to certain other permanent differences, including the gain on the sale of the Global Pump Solutions business, state income taxes, non-deductible incentive stock-based compensation and differences in tax rates among jurisdictions in which it operates.

The Organization for Economic Co-operation and Development/G20 Inclusive Framework on Base Erosion and Profit Shifting published the Pillar Two model rules designed to address the tax challenges arising from the digitalization of the global economy which introduces a 15% global minimum corporate tax for companies with revenues above €750 million calculated on a country-by-country basis. On February 1, 2023, the FASB indicated that it believes the minimum tax imposed under Pillar Two is an alternative minimum tax, and, accordingly, deferred tax assets and liabilities associated with the minimum tax would not be recognized or adjusted for the estimated future effects of the minimum tax but would be recognized in the period

incurred. Aspects of Pillar Two legislation have been enacted in certain jurisdictions in which the Company operates effective for accounting periods commencing on or after January 1, 2024. Historically, the Company has not met the Pillar Two revenue threshold. With the acquisition of Thermon, the combined Company will meet the Pillar Two threshold in 2026. The Company expects to meet the Transitional Country-by-Country Safe Harbor rules.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7,834	$ 9,866
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	58,444,845	35,644,537
Common Stock, shares outstanding	58,444,845	35,644,537

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

+ Details

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value [Member]	Accumulated Loss [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2024	$ 251,893	$ 349	$ 255,211	$ 6,570	$ (14,441)	$ 4,204
Beginning Balance, Shares at Dec. 31, 2024		34,978,000
Net (loss) income	36,442			35,984		458
Restricted stock units issued	(3,042)	$ 3	(3,045)
Restricted stock units issued, Shares		260,000
Share based compensation earned	3,641		3,641
Share based compensation earned, Shares		12,000
Translation gain	1,519				1,519
Noncontrolling interest distribution	(402)					(402)
Ending Balance at Mar. 31, 2025	290,051	$ 352	255,807	42,554	(12,922)	4,260
Ending Balance, Shares at Mar. 31, 2025		35,250,000
Beginning Balance at Dec. 31, 2024	251,893	$ 349	255,211	6,570	(14,441)	4,204
Beginning Balance, Shares at Dec. 31, 2024		34,978,000
Net (loss) income	$ 46,549
Exercise of stock options, Shares	0
Translation gain	$ 1,923
Common stock repurchase and retirement	0
Ending Balance at Jun. 30, 2025	$ 303,220	$ 352	258,466	52,064	(12,518)	4,856
Ending Balance, Shares at Jun. 30, 2025		35,308,000
Beginning Balance at Mar. 31, 2025	290,051	$ 352	255,807	42,554	(12,922)	4,260
Beginning Balance, Shares at Mar. 31, 2025		35,250,000
Net (loss) income	10,106			9,510		596
Exercise of stock options	$ 5		5
Exercise of stock options, Shares	0	1,000
Restricted stock units issued	$ (224)		(224)
Restricted stock units issued, Shares		57,000
Share based compensation earned	2,878		2,878
Translation gain	$ 404				404
Common stock repurchase and retirement	0
Ending Balance at Jun. 30, 2025	$ 303,220	$ 352	258,466	52,064	(12,518)	4,856
Ending Balance, Shares at Jun. 30, 2025		35,308,000
Beginning Balance at Dec. 31, 2025	323,182	$ 355	269,453	56,621	(8,901)	5,654
Beginning Balance, Shares at Dec. 31, 2025		35,645,000
Net (loss) income	(248)			(398)		150
Restricted stock units issued	(5,818)		(5,818)
Restricted stock units issued, Shares		175,000
Share based compensation earned	962	$ 2	960
Share based compensation earned, Shares		21,000
Translation gain	(75)				(75)
Noncontrolling interest distribution	(803)					(803)
Ending Balance at Mar. 31, 2026	317,200	$ 357	264,595	56,223	(8,976)	5,001
Ending Balance, Shares at Mar. 31, 2026		35,841,000
Beginning Balance at Dec. 31, 2025	323,182	$ 355	269,453	56,621	(8,901)	5,654
Beginning Balance, Shares at Dec. 31, 2025		35,645,000
Net (loss) income	$ (34,736)
Exercise of stock options, Shares	0
Translation gain	$ (6,772)
Ending Balance at Jun. 30, 2026	2,081,138	$ 584	2,069,492	21,455	(15,673)	5,280
Ending Balance, Shares at Jun. 30, 2026		58,445,000
Beginning Balance at Mar. 31, 2026	317,200	$ 357	264,595	56,223	(8,976)	5,001
Beginning Balance, Shares at Mar. 31, 2026		35,841,000
Net (loss) income	$ (34,489)			(34,768)		279
Exercise of stock options, Shares	0
Restricted stock units issued	$ (27)		(27)
Restricted stock units issued, Shares		73,000
Share based compensation earned	12,559		12,559
Issuance of common stock in connection with business combinations, Shares		22,531,000
Issuance of common stock in connection with business combinations, Amount	1,792,592	$ 227	1,792,365
Translation gain	(6,697)				(6,697)
Ending Balance at Jun. 30, 2026	$ 2,081,138	$ 584	$ 2,069,492	$ 21,455	$ (15,673)	$ 5,280
Ending Balance, Shares at Jun. 30, 2026		58,445,000

Senior Debt (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Summary of Debt

Debt as of June 30, 2026 and December 31, 2025 consisted of the following:


(in thousands)	June 30, 2026			December 31, 2025
Outstanding borrowings under Credit Facility (defined below)
Revolving credit facility	$	497,000		$	208,600
Term loan		235,000			—
Total outstanding borrowings under the Credit Facility		732,000			208,600
Outstanding borrowings under the joint venture term debt		4,731			5,647
Unamortized debt discount		(9,025	)		(1,809	)
Total outstanding borrowings		727,706			212,438
Less: current portion		(16,641	)		(1,879	)
Total debt, less current portion	$	711,065		$	210,559

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

Other segment information is as follows for the three and six months ended June 30, 2026:


	Three months ended June 30, 2026
(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions
Property and equipment additions	$	1,756	$	1,165	$	128
Depreciation and amortization(1)		4,328		3,835		2,317


	Six months ended June 30, 2026
(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions
Property and equipment additions	$	1,756	$	1,825	$	314
Depreciation and amortization(1)		4,328		6,750		4,432

(1) The amounts of depreciation and amortization disclosed by reportable segment are included within other segment expense captions, such as shop burden or general and administrative expense.

Other segment information is as follows for the three and six months ended June 30, 2025:


	Three months ended June 30, 2025				Six months ended June 30, 2025
(in thousands)	Engineered Systems		Industrial Process Solutions		Engineered Systems		Industrial Process Solutions
Property and equipment additions	$	512	$	328	$	1,206	$	961
Depreciation and amortization(1)		2,113		1,864		4,098		4,188

(1) The amounts of depreciation and amortization disclosed by reportable segment are included within other segment expense captions, such as shop burden or general and administrative expense.

Intra-Segment and Inter-Segment Revenues


(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions		Total
Net sales	$	49,606	$	173,673	$	61,682	$	284,961
Direct cost of sales		38,088		110,257		42,124
Shop burden		599		4,515		2,910
Selling expense		3,762		8,467		3,075
Project engineering expense		850		4,483		2,453
General and administrative expense		4,794		9,951		2,210
Segment profit		1,512		36,000		8,910		46,423
Share-based compensation								12,408
Amortization of intangible assets								7,789
Other corporate expenses(1)								59,409
Interest expense								9,102
Other profit or loss(2)								2,293
Total consolidated loss before income taxes							$	(44,578	)

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.


(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions		Total
Net sales	$	49,606	$	324,209	$	117,065	$	490,880
Direct cost of sales		38,088		205,964		80,686
Shop burden		599		8,995		6,160
Selling expense		3,762		16,586		6,007
Project engineering expense		850		8,310		4,703
General and administrative expense		4,794		18,534		4,154
Segment profit		1,512		65,822		15,356		82,690
Share-based compensation								12,848
Amortization of intangible assets								11,792
Other corporate expenses(1)								89,363
Interest expense								13,332
Other profit or loss(2)								3,680
Total consolidated loss before income taxes							$	(48,325	)

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.


(in thousands)	Engineered Systems		Industrial Process Solutions		Total
Net sales	$	128,460	$	56,931	$	185,391
Direct cost of sales		76,638		36,078
Shop burden		3,338		2,230
Selling expense		7,933		2,857
Project engineering expense		4,729		2,803
General and administrative expense		9,185		2,278
Gain on sale of Global Pump Solutions business		—		-
Segment profit		26,639		10,686		37,325
Share-based compensation						2,878
Amortization of intangible assets						6,033
Other corporate expenses(1)						22,935
Interest expense						4,898
Other profit or loss(2)						(1,454	)
Total consolidated income before income taxes					$	14,617

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.


(in thousands)	Engineered Systems		Industrial Process Solutions			Total
Net sales	$	248,894	$	113,195		$	362,088
Direct cost of sales		149,703		71,717
Shop burden		6,269		5,129
Selling expense		15,765		6,587
Project engineering expense		9,459		5,675
General and administrative expense		18,225		6,547
Gain on sale of Global Pump Solutions business		—		(63,701	)
Segment profit		49,472		81,241			130,713
Share-based compensation							6,234
Amortization of intangible assets							6,033
Other corporate expenses(1)							38,516
Interest expense							11,115
Other profit or loss(2)							(861	)
Total consolidated income before income taxes						$	69,676

Net Sales By Geographic Area

Net sales by geographic area are as follows:


	Three months ended June 30,				Six months ended June 30,
(in thousands)	2026		2025		2026		2025
United States	$	180,619	$	120,204	$	317,165	$	230,875
Netherlands		26,212		15,763		43,775		26,989
Canada		18,815		5,390		23,080		10,747
China		18,814		13,563		33,369		28,357
United Kingdom		11,646		12,470		24,678		32,027
Other		28,855		18,001		48,813		33,093
Total net sales	$	284,961	$	185,391	$	490,880	$	362,088

Long-Lived Assets By Geographic Area

Long-lived assets by geographic area are as follows:


(in thousands)	June 30, 2026		December 31, 2025
United States	$	2,565,411	$	359,584
China		41,056		39,205
United Kingdom		24,807		27,761
Canada		57,968		8,492
Other		64,696		48,545
Total long-lived assets	$	2,753,938	$	483,587

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

13. Commitments and Contingencies

Legal Proceedings

The Company is subject to routine legal claims, proceedings, and investigations associated with contract and employment-related litigation matters, warranty claims, asbestos matters, and audits of state and local tax returns arising in the ordinary course of its business. Following the acquisition of Thermon on June 1, 2026, the Company has also assumed responsibility for legal matters associated with Thermon’s historical operations; however, none of such matters are believed to be material to the Company’s consolidated financial condition, results of operations, or liquidity. The final outcome and impact of open matters, and related claims and investigations that may be brought in the future, are subject to many variables, and cannot be predicted. The Company regularly assesses such matters to determine the degree of probability that it will incur a material loss as a result of such matters, as well as the range of possible loss. The Company records accruals for estimated losses relating to claims and lawsuits when available information indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated.

Based upon information presently available, and in light of legal and other factual defenses available to the Company, the Company does not believe that it is reasonably possible that such litigation will have a material adverse effect on the Company’s financial condition, future operating results or liquidity.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss) income	$ (34,736)	$ 46,549
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	18,120	10,157
Unrealized foreign currency loss (gain)	3,534	(3,024)
Intangible asset impairment	1,927	0
Inventory fair value adjustment	9,515	0
Gain on sale of Global Pump Solutions business	0	(64,502)
Fair value adjustment to earnout liabilities	0	(7,403)
(Gain) loss on sale of property and equipment	26	(34)
Debt discount amortization	476	412
Share-based compensation expense	12,848	6,234
(Recovery) allowance for credit loss	(1,539)	1,297
Inventory reserve expense	1,496	192
Deferred income tax benefit	891	1,335
Changes in operating assets and liabilities, net of acquisitions and divestiture:
Accounts receivable	(180,211)	4,850
Costs and estimated earnings in excess of billings on uncompleted contracts	3,502	(19,635)
Inventories	(9,835)	(8,853)
Prepaid expense and other current assets	(60,692)	(13,865)
Deferred charges and other assets	(3,155)	(1,512)
Accounts payable	40,998	11,884
Accrued expenses	(23,342)	9,973
Billings in excess of costs and estimated earnings on uncompleted contracts	192,366	7,524
Income taxes payable	(5,363)	5,942
Other liabilities	748	(6,884)
Net cash used in operating activities	(32,426)	(19,363)
Cash flows from investing activities:
Acquisitions of property and equipment	(7,486)	(4,432)
Net cash proceeds for sale of Global Pump Solutions business	0	105,860
Cash paid for acquisitions, net of cash acquired	(436,871)	(97,615)
Net cash (used in) provided by investing activities	(444,357)	3,813
Cash flows from financing activities:
Borrowings on revolving credit lines	384,700	162,000
Repayments on revolving credit lines	(96,300)	(142,300)
Borrowings on long-term debt	235,000	0
Repayments of long-term debt	(917)	(802)
Payments on finance leases and financing liability	0	(393)
Deferred financing fees paid	(7,664)	0
Deferred consideration paid for acquisitions	0	(1,000)
Equity awards surrendered by employees for tax liability, net of proceeds from employee stock purchase plan and exercise of stock options	(4,966)	(2,906)
Noncontrolling interest distributions	(803)	(402)
Net cash provided by financing activities	509,050	14,197
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,645)	61
Net increase in cash, cash equivalents and restricted cash	30,622	(1,292)
Cash, cash equivalents and restricted cash at beginning of period	33,227	38,201
Cash, cash equivalents and restricted cash at end of period	63,849	36,909
Cash paid during the period for:
Interest	14,131	10,940
Income taxes	$ 14,509	$ 18,642

Inventories - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Inventory Disclosure [Abstract]
Amounts credited to the allowance for obsolete inventory	$ 0.4	$ 0.1	$ 1.5	$ 0.2

Business Segment Information (Additional Information) (Details)	6 Months Ended
	Jun. 30, 2026 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Income Taxes - Additional Information (Detail) $ in Thousands, € in Millions	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 EUR (€)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Income Taxes [Line Items]
Liability for uncertain tax positions	$ 1,400			$ 1,400		$ 1,300
Deferred foreign income taxes				1,700		$ 1,100
Income tax (benefit) expense	(10,089)	$ 4,511		$ (13,589)	$ 23,127
Percentage of corporate tax			15.00%	15.00%
Revenues \| €			€ 750
Federal Authorities [Member]
Income Taxes [Line Items]
Open tax years			2021	2021
Income tax (benefit) expense	$ 10,100	$ 4,500		$ 13,600	$ 23,100
Effective income tax rate	(22.60%)	30.90%	(28.10%)	(28.10%)	33.20%
State and Foreign Authorities [Member]
Income Taxes [Line Items]
Open tax years			2018	2018

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Inventory, Net [Abstract]
Raw materials	$ 95,233	$ 15,398
Work in process	45,763	18,026
Finished goods	70,393	20,572
Total inventories	$ 211,388	$ 53,996