Good joining you day us call. for third morning quarter thank for and on this our fall
profitability third say to the excited impressive market strong leading and our I'm that top, the Off in drove bookings quarter. execution
that produce lead upside vision, we a our anticipate Our shareholders. financial aggressive towards investments our and will focus significant are discipline continued and continues likely off, our team targets with paying for management trajectory to XXXX
end In quality to and solutions is in and it's words, implementing operating execution emphasizing our our beat our reasons our Matt CECO's clean head-to-head of low for with the morning, go will strategy, work competition win and a cornerstone one this of able This to economy high and markets. that is because carbon the sustainable X-X-X disciplined I other responding and customers. team the be
what because our and record confidence areas are greatest seen quarter. future and You'll two also during CECO, in about predictor sensing bookings shape backlog my of enthusiasm our achieved we that is and ahead results past lies the for this backlog our be It in future have of can the been strong. the be the these
flexibility large diverse for potential markets improve that Continued balance our and investment can targets healthy our future. our opportunities our the provide team. to in end sheet offers And seize us
and highlight As these you differentiators. know, wins I'll our of CECO's proposition a value this customer morning couple to backlog on illustrate market is based and
I’ll our now performance and details. well third ball wins to as then begin toss near as term the customer the quarter I'll the the for Matt for market outlook, financial CECO's
generating and path recap returns shareholders, our I'll Following toward top for for out open our Matt’'s then report or questions. the line full tier your
bookings I'll almost market investments by X our Slide that's strategy impressive blueprint the and driving been are execution. ago noting quickly and that operating By it's improving start for execution our priorities, two been profitability. leading with simply, years our guides X-X-X launched
environment. our competitive more and increasingly clean, held solutions team, and with recognized protect Along being efficient has talented that a for safe to broad advantages our this portfolio, resource go CECO as shared to
X.XX. an million The also Moving and It sequentially. year-over-year which bookings on to consider to Slide ratio what an of is third predictor solid a We be X, orders, financial a increase very I of I’ll achieved solid XX% of organic strong of service highlight quarter XXX our strong our book-to-bill results. reflects impressive future. XX%
strong last reflective down shift quarter, sequentially by is orders X% longer year, to mix orders energy X% Like increased across which Our million, $XX but our a cycle year-over-year. a of being to this revenue off modestly revenue up our segment. is slightly of tempered the
I'm backlog operating backlog our the year-over-year, record emphasize up of our forward, launched two million. and that XX% $XXX that strategy be Going was ago. I'll our since $XX will is X-X-X million by years revenue influenced that positively confident we've added
this again demonstrating strong once slower remains historical. flat value noticeably EBITDA essentially at a million year-over-year was backlog to Adjusted gross margin $X.X and sequentially Our revenue as XX.X%, conversion and quarter was execution. than up bit
flow had Finally, we cash million. strong free at $X
generate of can ongoing still and do consistently are efforts to cash fruit, top financial we we're metric. staying performance even this flow Our better bearing important positive on
I’ll Before stronger And on been $X of is keep during than quarter. moving by Treasury additional lowered our our cash consolidation ever, and activity an and our the need that to has ERP. sheet also reduced balance on, million operating simplification by further our with mention debt hand
launched. even CECO's do new. in team and third But the was This since strategy the our impressive profitability the levels strong results was X-X-X bookings been momentum will not something can We've better. very quarter to perform able every being at we operating and is of building high day.
Our entire so. to team committed is doing
will by China. newest learning India even our graduates our CECO the better. presented to that have materially projects opportunities the to improve do of can we added segment and And our Europe, class Yes, energized sales from I'm redeployment action the company. industrial pipeline potential new Academy to recent Leadership and
Slide next. X is
it's a air. broad that a product chemicals of applications remains biggest cleaner, quickly CECO increasing the of central treatment growing fluid in and emissions range to want solutions last designs, slide it carbon target to producing particularly our productive ability handling again our is quarter with to share win clean portfolio competitive solutions and edge process water this specific and world, shown safer reduced because low As highlight and economy. a from for
able with a combine these terms in competitors products are to in but each and leadership we're position There being of of areas world in attractive capability. an portfolio of class services
carbon positioned opportunities seize to So the in low we're well growing economy.
of takes others economy. third and play dozens the low for that market two quarter and we and highlight sustainability from the a the Slide to X as serving role demonstrate us carbon This proxy wins reel, X in our
a inherently simultaneously of industrial refresher, all economy to achieving all essentially and requires higher facilities of output quick types emissions. goal a meet low over challenging commercial carbon lower world environmental the and As an
shows facility the Gen from CECO. successfully a involves under Pass X first generation associated in that's in for both with I built for Power the say and competing ourselves third Slide LNG win plants facility Louisiana. have the a spot Sabine we're construction name quarter OEMs spot sweet Power operators. with which because sweet and and LNG applications showcase
install will to next over years. facility will the systems CECO natural customers generation CO and few power have requiring to reduce these and into a emissions. LNG small convert Our Systems gas five NOx SCR a plant deliver
execution. overwhelming job, former and a this later CECO capturing by in market trust. of CECO's two had investment advantages a driven The innovation based leading on is
us a First, widely recognized systems Peerless because for patented SCR preceded is exhaust its that utilize reputation CECO AIG Technology. EDGE its
customer key shows reaction Technology element the used need exhaust AIG clean the the into the NOx. being for in innovative released clean and reduces ammonia, stream the simple to CO the gases graphic atmosphere. of a The And
and gas CECO turbine OEM or delivery. the plant Peerless criteria the trust level demanding Second, power performance than meet high time has to on a of
products. from history and team project trust project our tangible consistent Our powerful performance of produces and a to in
downtime LNG only XXX,XXX of and benefit will reduction NOx do operator to the but the reduced the CECO also OEM the to receive facility And environment of increased of every Not plant. customer safety and the life pounds benefits, our year.
because or second company, X cutting They're customer involved materials industry. Slide company develops composites and the their aerospace the is do presents others the and in unable either the advanced win, unwilling interesting into an Midwest. to aerospace which what do. for structures edge are manufactures This and to assemblies mindset
believe volatile essential VOCs. organic a that important odor, can which lead organic controls. shorter Manufacturing carbons life of or catalysts emissions composite We Chemicals span for produce use produce the pungent hazardous good chemicals wide plumes of involves their a we're potentially range them. to dark are match and materials to of
is facility expanding cost needs and to its manage efficiently effectively customer and emissions possible. as as Our
competitive Because and & win. Blum had this in Adwest capturing several advantages Kirk brands
confidence sales were in solid want New the to sales of the CECO to CECO. [Damien setting executed impeccably work relationships. acknowledge share because winning in they do our Rob terrific with the long-term I team customer for earning and making Chris Lefever, it Andy team First Nigorski] business easy Adams, tone vital customers and including and our
different single this really job. Second, proud complete source of a companies it our allowed with The and we Two technical a seem benefit single areas teams solution that to accepting CECO expertise. this of source seamless offered is I'm manage challenge, have different years to multiple And customer struggled ago, our would this avoid everywhere to execution a of for effectively. making having solution between do easy. teams to
graphic hand technical chemicals will them Like oxidation, technology client only our emission and called innovative fumes And wins, also standards, is finally, the odors, we wins direct of solution eliminates time, offered depicted by not which on right our thermal meet human to because fired money but also and the save XX%. most resources. the allow our that
ongoing we're execution, our are Those way are leading go capabilities contribute as positioned targets carbon wins the seize economy brands market so growing that growing the highlight to shareholder as traits our well top that well low These and in QX team's and XXXX innovation strong returns. our toward two tier to from why and to opportunities the reputation. on
generally To healthy. across start end our slide majority The of slowing eight show investment to arrows our we'll and the sectors. markets market are green turn Next, industrial with our diversified CapEx of which some market large, outlook. covers
in fluid of with then begin move counterclockwise. Let's chart pie right handling the the lower and
quarter down X% somewhat a soft had handling fluid market Industrial orders environment had sequentially. with and another challenging
more be aquaculture But some of demand challenge. During overarching remain a we the gas not from to optimistic. remain On signs oil a generated sluggish. and to level, any the But reason compelling sector third auto we the and expect the will market quarter, segment see term, near improvement. don't showed
share. seen start in seeing positive. what and needs quality in sharpen very a the quarter so we're next. Investments pipeline our a the market. range compete quarters ready Working the After air segment as early our the focus, infrastructure by dipping remains year, few fully to win have of sequentially. we industrial still And market to with project strong This serves we're process X% like this is declines third the hearing modest We last and to improvement solutions production across continues counterclockwise manufacturing environment.
demand market the are solid There orders new quarters India in order U.S. the seeing China. from improvement with delays contributing are And sales products. because CapEx softening however, air quality of is this they're decisions. some in and Outside at new Europe, for additions show,
maintain us sum, can I'll phases. in growth be add This competitive is the will D&A of for growing market. pipeline, a our innovative but the have market we're even periods that we this future, slower products which during of lumpiness, help part In attractive but edge there this closings. of developing
the active the outlook the at had segment quarter third top Next, pie, a of of in refinery solid remains orders. and terms we
cyclone leading the third and was with and segment. designs the our segment second this market on time number up quarter. team again midstream year-over-year. remain heels market money in technical an exceptional in we of and one team the And Our that once big oil Continuing XX% delivered in are counterclockwise, quarter orders the gas
a The our clean, be continues pipeline, rich respond gas to solutions. midstream oil efficient safe and and of global and separation gas areas in process with gas environment LNG the market and proving water, is team to target
doubt trend that market comfortable of our Gas as This an out quarter is smooth and saying become and intensely with increasing XX% have or Gen, And we is to market very ready. largest along competitive it's Moving trajectory solid but as third prior will had a I'm slump. segment really for it's how still And to opportunities that we're emerged coming capitalizing be. the deep from question a positive. a its orders Without intense capable always Power this market year. end area, just
with Power Finally, bottom supporting increase continues a our of orders. to the focus market, strong at of team the the in chart, XX% solid install quarter base successfully Gen the fuel had and
aftermarket This expansion joints, and well. are successes extending into such is our dampers and big industry mining. in performing we're opportunity, harsh a leader are other segments and as We
the our achieving to target. two always growth and striving our remains Specific I'm of achieve will steadfast market the but market competition will. target the team we're fluctuate in tough, of segments and confident that be closing, we In times may
I'll to that, over Matt. take away. turn And it Matt, with things