Ceco Environmental Corp is a leading provider of environmental solutions, specializing in innovative technologies that help industries manage air, water, and waste challenges
The company designs and manufactures a wide range of products and services aimed at reducing emissions, enhancing energy efficiency, and ensuring compliance with environmental regulations. With a strong focus on sustainability, Ceco serves various sectors, including manufacturing, power generation, oil and gas, and government entities, helping them achieve their environmental goals while maintaining operational efficiency. Through its commitment to quality and customer service, Ceco Environmental fosters a cleaner, healthier environment for communities worldwide.
Shares of environmental solutions provider jumped 14.7% in the morning session after the company reported decent fourth-quarter results, surpassing analysts' expectations for revenue, EPS, and EBITDA. Revenue grew 3% y/y, driven by record-high bookings and a 46% increase in backlog, signaling strong demand across its industrial and environmental businesses. On top of that, the company's full-year revenue and EBITDA guidance came in ahead of forecasts, adding to the positive momentum. Zooming out, we think this was a good quarter with some key areas of upside.
Air quality and fluid handling company CECO (NASDAQCECO) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 3.2% year on year to $158.6 million. The company’s full-year revenue guidance of $725 million at the midpoint came in 4.1% above analysts’ estimates. Its non-GAAP profit of $0.27 per share was 19.1% above analysts’ consensus estimates.
ADDISON, Texas, Feb. 18, 2025 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced that it will report its fourth quarter 2024 financial results on February 25, 2025, premarket. The Company will also host its earnings call starting at 8:30 a.m. Eastern Time (7:30 a.m. CT). The Company’s financial results and presentation will be posted on its website at www.cecoenviro.com.
Q4 Revenue and EBITDA Negatively Impacted by Customer-Driven Project DelaysTremendous Q4 Bookings at Over $210 million Establishes New Record and Highest-Ever Backlog Completed Acquisition of Verantis in Late Q4 and Announces Intention to Divest Fluid Handling Business2025 Full Year Outlook Affirmed
ADDISON, Texas, Jan. 07, 2025 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announces that CECO Management will present at the following investor conference in January:
Looking back on gas and liquid handling stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including CECO (NASDAQCECO) and its peers.
ADDISON, Texas, Jan. 02, 2025 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) (together with its consolidated subsidiaries and affiliates, “CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced the successful completion of the previously announced tender offer (the “Offer”) to acquire all of the issued and outstanding shares (the “Shares”) of Profire Energy, Inc. (Nasdaq: PFIE) (“PFIE” or the “Company”) at a price per share of $2.55, in cash, without interest and less applicable withholding taxes, by CECO’s wholly owned subsidiary, Combustion Merger Sub, Inc. (“Purchaser”). The Offer expired at one minute after 11:59 P.M. New York City time on December 31, 2024 (the “Expiration Time”). The Offer was made pursuant to the agreement and plan of merger (the “Merger Agreement”) executed on October 28, 2024 and announced by CECO and PFIE on October 29, 2024, pursuant to which Purchaser agreed to acquire PFIE in a transaction valued at approximately $125 million.
CECO currently trades at $31 and has been a dream stock for shareholders. It’s returned 282% since December 2019, more tripling the S&P 500’s 91.2% gain. The company has also beaten the index over the past six months as its stock price is up 28.6%.
Let’s dig into the relative performance of Flowserve (NYSEFLS) and its peers as we unravel the now-completed Q3 gas and liquid handling earnings season.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how gas and liquid handling stocks fared in Q3, starting with Gorman-Rupp (NYSEGRC).
ADDISON, Texas, Dec. 05, 2024 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) (together with its consolidated subsidiaries and affiliates, “CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), applicable to CECO’s tender offer for Profire Energy, Inc. (Nasdaq: PFIE) (“PFIE”) expired at 11:59 p.m., Eastern Time, on November 15, 2024.
ADDISON, Texas, Dec. 03, 2024 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) (together with its consolidated subsidiaries and affiliates, “CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, announced today that its affiliate, Combustion Merger Sub, Inc. (“Purchaser”), commenced the previously announced cash tender offer for all of the issued and outstanding shares of common stock of Profire Energy, Inc. (Nasdaq: PFIE) (“PFIE” or the “Company”) at a price of $2.55 per share, net to the seller, in cash, without interest and less applicable withholding taxes. The tender offer is being made pursuant to the merger agreement (the “Merger Agreement”) executed on October 28, 2024 and announced by CECO and PFIE on October 29, 2024, under which Purchaser agreed to acquire PFIE in a transaction valued at approximately $125 million. Purchaser is a wholly owned subsidiary of CECO.
DALLAS, Nov. 06, 2024 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announces that CECO Management will present at the following investor conferences:
BALA CYNWYD, Pa., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Air quality and fluid handling company CECO (NASDAQCECO) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 9.3% year on year to $135.5 million. The company’s full-year revenue guidance of $587.5 million at the midpoint also came in 3.2% below analysts’ estimates. Its non-GAAP profit of $0.14 per share was also 29.4% below analysts’ consensus estimates.
