CECO: 2Q Earnings Snapshot
DALLAS (AP) _ CECO Environmental Corp. (CECE) on Tuesday reported second-quarter net income of $5.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dallas-based company said it had profit of 15 cents. Earnings, adjusted for non-recurring gains, were 8 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The maker of air pollution controls and industrial ventilation systems posted revenue of $81.2 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $86.7 million.
CECO shares have risen 28% since the beginning of the year. The stock has increased 28% in the last 12 months.