CECO Environmental Corp., based in Addison, Texas, reported a loss of $34.8 million in its second quarter. The company had a loss of 80 cents per share. Earnings, adjusted for one-time gains and costs, came to 47 cents per share.
Financial Performance
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share. The maker of air pollution controls and industrial ventilation systems posted revenue of $285 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $279.5 million.
CECO expects full-year revenue in the range of $1.3 billion to $1.38 billion.
Original reporting: Alexandria, VA News – WTOP News — read the source article.
