CECO Environmental Corp. (NASDAQ:CECE) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 08:30 am ET


CECO Environmental Corp. (NASDAQ:CECE) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the CECO Environmental Third Quarter Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Matt Eckl, Chief Financial Officer of CECO Environmental. Please go ahead.

Matt Eckl

Thank you for joining us on the CECO Environmental third quarter 2019 conference call. On the call today is Dennis Sadlowski, Chief Executive Officer and myself, Matt Eckl, Chief Financial Officer.

Before we begin, I'd like to note that we've provided a presentation to help guide our discussion. The call will be webcast along with our earnings presentation on our website at cecoenviro.com. The presentation materials can be accessed through the Investor Relations section of the website. I'd also like to caution investors regarding forward-looking statements. Any statements made in today's presentation that are not based on historical facts are forward-looking statements. Such statements are based on certain estimates and expectations and are subject to a number of risks and uncertainties. Actual future results may vary materially from those expressed or implied by the forward-looking statements. We encourage you to read the risks described in our SEC filings on Form 10-K for the year ended December 31, 2018.

Except to the extent required by applicable securities laws, we undertake no obligation to update or publicly revise any of the forward-looking statements that we make here today, whether as the result of new information, future events or otherwise. Today's presentation will also include references to certain non-GAAP financial measures. We've reconciled the comparable GAAP and non-GAAP numbers in today's press release as well as the supplemental tables in the back of the slide deck.

And with that, I'll toss the ball over to Dennis.

Dennis Sadlowski

Good morning, and thank you for joining us on this fall day for our third quarter call. Off the top, I'm excited to say that our market leading execution drove impressive bookings and strong profitability in the third quarter. Our investments are paying off. Our management team continues to lead with vision, discipline and focus and we anticipate a continued trajectory toward our aggressive 2021 financial targets that will likely produce significant upside for our shareholders.This morning, Matt and I will be emphasizing our disciplined execution, because it's the cornerstone of implementing our 4-3-3 operating strategy and responding to a low carbon economy with sustainable and clean solutions for our customers. In other words, this is one of the reasons that CECO's team is able to go head-to-head and beat the competition and win high quality work in our end markets.

You'll also be sensing my confidence and enthusiasm about what lies ahead for CECO, because the shape of our future can be seen in the record backlog we achieved during this past quarter. It is our bookings and backlog that are the greatest predictor of the future and our results in these two areas have been strong.Continued opportunities in our large and diverse end markets provide potential for our team, and our healthy balance sheet offers us the flexibility to seize