CECO ENVIRONMENTAL Reports Second Quarter FY2023 Earnings Results on August 8, 2023
August 15, 2023
🌥️Earnings Overview
On August 8 2023, CECO ENVIRONMENTAL ($NASDAQ:CECO) revealed their earnings results for the second quarter of FY2023, which ended on June 30 2023. The company reported total revenue of USD 129.2 million, an impressive 22.6% growth compared to the same period in the previous year. Unfortunately, net income decreased by 15.1% to USD 3.7 million.
Share Price
The stock opened at $13.0 and closed at $14.6, soaring by 24.0% from the prior closing price of $11.7. This increase in stock price reflects the strong earnings reported by CECO ENVIRONMENTAL for the quarter, with a substantial increase in sales and net income. This marked the fifth consecutive quarter in which CECO ENVIRONMENTAL has reported growth in sales and net income. The company attributed the strong performance to cost-cutting measures implemented throughout the year as well as increased demand for its products and services. CECO ENVIRONMENTAL also announced a number of initiatives to continue to grow its business and further strengthen its financial position.
These include expanding its customer base, optimizing its product offerings, and investing in new technologies that will help it reduce costs and increase efficiency. Overall, the strong second-quarter earnings results from CECO ENVIRONMENTAL demonstrate the company’s commitment to delivering value to its shareholders and investors. CECO ENVIRONMENTAL is well positioned to take advantage of future market opportunities and continue to grow its business over the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ceco Environmental. More…
| Total Revenues | Net Income | Net Margin |
| 466.56 | 15.94 | 4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ceco Environmental. More…
| Operations | Investing | Financing |
| 10.35 | -37.52 | 41.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ceco Environmental. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 582.62 | 355.47 | 6.42 |
Key Ratios Snapshot
Some of the financial key ratios for Ceco Environmental are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.2% | 9.2% | 6.5% |
| FCF Margin | ROE | ROA |
| 1.0% | 8.6% | 3.2% |
Analysis
GoodWhale has conducted an analysis of CECO ENVIRONMENTAL‘s fundamentals, and has determined that the company has a high health score of 8/10, indicating that it is able to safely ride out any crisis without the risk of bankruptcy. CECO ENVIRONMENTAL is strong in growth, medium in asset, profitability and weak in dividend. This means that investors who are looking for companies that have the potential to grow quickly could be very interested in CECO ENVIRONMENTAL. Based on our Star Chart analysis, we have classified CECO ENVIRONMENTAL as a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking to take a risk on companies that have higher-than-average growth potential could be attracted to CECO ENVIRONMENTAL. More…
Summary
CECO Environmental released its second-quarter earnings for FY2023 on August 8th. Total revenue for the quarter increased by 22.6%, however net income decreased by 15.1%. Despite the decrease in net income, the stock price moved up the same day of the announcement. Investors may be finding value in CECO’s strong revenue growth and potential to increase profitability.
It may be a good time to consider investing in CECO Environmental as potential upside exists. Investors should carefully analyze the company’s financials before investing to ensure proper risk management.
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