Let’s dig into the relative performance of CECO Environmental (NASDAQ: CECO) and its peers as we unravel the now-completed Q4 industrial & environmental services earnings season.

Growing regulatory pressure on environmental compliance and increasing corporate ESG commitments should buoy the sector for years to come. On the other hand, environmental regulations continue to evolve, and this may require costly upgrades, volatility in commodity waste and recycling markets, and labor shortages in industrial services. As for digitization, a theme that is impacting nearly every industry, the increasing use of data, analytics, and automation will give rise to improved efficiency of operations. Conversely, though, the benefits of digitization also come with challenges of integrating new technologies into legacy systems.

The 7 industrial & environmental services stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.8% while next quarter’s revenue guidance was in line.

While some industrial & environmental services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.5% since the latest earnings results.

CECO Environmental (NASDAQ: CECO)

With roots dating back to 1869 and a focus on creating cleaner industrial operations, CECO Environmental (NASDAQ: CECO) provides technology and expertise that helps industrial companies reduce emissions, treat water, and improve energy efficiency across various sectors.

CECO Environmental reported revenues of $214.7 million, up 35.4% year on year. This print exceeded analysts’ expectations by 3.1%. Overall, it was a satisfactory quarter for the company with full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ EPS estimates.

Todd Gleason, CECO's Chief Executive Officer commented, “We closed the year with our strongest quarter to date, highlighted by order bookings in excess of $300 million, the first time in company history. This performance was primarily driven by a large domestic gas-fired power generation project of approximately $135 million, also a company record in project value. This marks our fifth consecutive quarter with orders above $200 million, underscoring the continued momentum in our core markets as we enter 2026. Revenue of approximately $215 million reflects strong execution against our record and growing backlog, with gross profit margin improving sequentially to 35 percent as we recovered from the seasonal headwinds experienced in the third quarter. Adjusted EBITDA margin of 13.9 percent represents a quarterly record and provides a strong finish to the year. I am also excited to share that today we announced, in a separate press release, a transaction to combine CECO with Thermon – a diversified industrial technology company and a global leader in industrial process heating solutions.”

CECO Environmental achieved the fastest revenue growth and highest full-year guidance raise of the whole group. Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 10.6% since reporting and currently trades at $53.68.

Is now the time to buy CECO Environmental? Access our full analysis of the earnings results here, it’s free.

Best Q4: Tetra Tech (NASDAQ: TTEK)

With a 50-year legacy of "Leading with Science" and operations on all seven continents, Tetra Tech (NASDAQ: TTEK) provides high-end consulting and engineering services focused on water management, environmental solutions, and sustainable infrastructure for government and commercial clients worldwide.

Tetra Tech reported revenues of $1.04 billion, down 13.4% year on year, outperforming analysts’ expectations by 6.4%. The business had a strong quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

Tetra Tech pulled off the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 10.6% since reporting. It currently trades at $33.19.

Is now the time to buy Tetra Tech? Access our full analysis of the earnings results here, it’s free.

Slowest Q4: Vestis (NYSE: VSTS)

Operating a network of more than 350 facilities with 3,300 delivery routes serving customers weekly, Vestis (NYSE: VSTS) provides uniform rentals, workplace supplies, and facility services to over 300,000 business locations across the United States and Canada.

Vestis reported revenues of $663.4 million, down 3.2% year on year, in line with analysts’ expectations. It was a softer quarter as it posted EPS in line with analysts’ estimates and revenue in line with analysts’ estimates.

Interestingly, the stock is up 2.9% since the results and currently trades at $7.54.

Read our full analysis of Vestis’s results here.

Pitney Bowes (NYSE: PBI)

With a century-long history dating back to 1920 and processing over 15 billion pieces of mail annually, Pitney Bowes (NYSE: PBI) provides shipping, mailing technology, logistics, and financial services to businesses of all sizes.

Pitney Bowes reported revenues of $477.6 million, down 7.5% year on year. This number lagged analysts' expectations by 1.2%. More broadly, it was actually a strong quarter as it recorded a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

Pitney Bowes had the weakest performance against analyst estimates among its peers. The stock is flat since reporting and currently trades at $10.25.

Read our full, actionable report on Pitney Bowes here, it’s free.

Cintas (NASDAQ: CTAS)

Starting as a family business collecting and cleaning shop rags in Cincinnati, Cintas (NASDAQ: CTAS) provides corporate identity uniforms, facility services, and safety products to over one million businesses across North America.

Cintas reported revenues of $2.8 billion, up 9.3% year on year. This result beat analysts’ expectations by 1.4%. It was a satisfactory quarter as it also produced a narrow beat of analysts’ revenue estimates.

The stock is up 4.8% since reporting and currently trades at $196.46.

Read our full, actionable report on Cintas here, it’s free.

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