CECO Environmental First Quarter 2024 Earnings: Misses Expectations

CECO Environmental (NASDAQ:CECO) First Quarter 2024 Results

Key Financial Results

• Revenue: US$126.3m (up 12% from 1Q 2023).
• Net income: US$1.51m (down 24% from 1Q 2023).
• Profit margin: 1.2% (down from 1.8% in 1Q 2023).
• EPS: US$0.043 (down from US$0.057 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CECO Environmental Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Commercial Services industry in the US.

Performance of the American Commercial Services industry.

The company's shares are down 13% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for CECO Environmental that you need to be mindful of.

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