Ceco shares rise after Q2 report, guidance raise

CECO Environmental

08/08/2022 14:53

** Shares in CECO Environmental  CECE.O  up 6.8% on Monday after
it increased FY financial guidance and Q2 financials beat Street
expectations
    ** CECO Q2 rev of $105.38 mln compared with consensus
expectation for $91.28 mln while reported EPS of $0.13 compared
with consensus view of $0.04, according to Revinitiv
    ** Co forecast FY 2022 rev of $375 mln to $400 mln, which at
midpoint would be a ~19% year-over-year increase, sees FY 
adjusted EBITDA range of $37 mn to "exceeding $40 million," with
midpoint implying 50% increase y/y  urn:newsml:reuters.com:*:nCNWKzjcva
    ** Previous guidance range had been rev of $360 mln to $380
mln, adj. EBITDA of $33 mln to $38 mln
    ** Stock last traded at $8.60 compared with median PT of $12
according to Refinitiv, which shows just four analysts covering
the co, all with 'buy' ratings

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))