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CECO Environmental Surpasses Q2 Earnings Estimates

CECO Environmental (NASDAQ: CECO) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this maker of air pollution controls and industrial ventilation systems would post earnings of $0.11 per share when it actually produced earnings of $0.11, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates three times. CECO, which belongs to the Zacks Pollution Control industry, posted revenues of $137.52 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.84%. This compares to year-ago revenues of $129.18 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. CECO shares ...