CECO Environmental Corp. (NASDAQ: CECO) announced it expects full year 2026 orders to exceed $1.5 billion, representing a book-to-bill ratio greater than 1.5 and approximately 50 percent growth compared to 2025. The outlook excludes the previously announced Thermon acquisition.

The company reported its sales pipeline now exceeds $6.5 billion. Chief Executive Officer Todd Gleason stated the company expects to receive its largest-ever order in upcoming weeks for gas turbine exhaust inlet air conditioning and emissions management solutions designed for ultra-low NOx and VOC emissions.

CECO's largest opportunities remain in natural gas power generation markets, industrial water and industrial reshoring programs, according to the company's statement.

The Thermon acquisition remains on track to close in mid-2026, subject to shareholder and regulatory approvals. The transaction involves a fixed rate of $10 per Thermon share and 0.6840 of a CECO share, with cash limited to approximately $330 million funded through CECO's current credit facility.

CECO expects to deliver at least $40 million of run-rate cost synergies by year three following the Thermon transaction. The combined organization is projected to have adjusted EBITDA margins of approximately 20 percent, according to company statements.

The environmental technology company serves industrial air, industrial water and energy transition markets globally. CECO is headquartered in Addison, Texas, and was incorporated in 1966.