CECO ENVIRONMENTAL Reports Third Quarter FY2023 Earnings Results on November 7, 2023
November 21, 2023
🌥️Earnings Overview
On November 7, 2023, CECO ENVIRONMENTAL ($NASDAQ:CECO) reported its financial results for the third quarter of FY2023 (ended September 30, 2023), with total revenue reaching USD 149.4 million – up 37.8% from the same quarter of the prior year. Net income also experienced a substantial year-over-year growth of 71.6%, totalling USD 3.3 million.
Stock Price
On Tuesday, CECO ENVIRONMENTAL stock opened at $17.2 and closed at $18.4, soar by 10.9% from prior closing price of 16.6. The improved financial results can be attributed to their steadfast commitment to sustainability and environmental responsibility. The company has made strong investments in research and development to ensure that its products are up-to-date with environmental regulations and standards. This has enabled the company to remain competitive in the market by providing customers with high quality, cost-effective solutions for their environmental needs. With the improved financial results, CECO ENVIRONMENTAL is well-positioned for continued growth in the future. Moreover, CECO ENVIRONMENTAL has also been expanding its presence in other markets through strategic partnerships and expansion into new industries.
This will ensure that the company’s core business remains strong and lucrative in the long-term. The positive earnings results are a testament to the company’s commitment to sustainability and environmental responsibility, as well as its willingness to invest in research and development to remain competitive in the market. Overall, CECO ENVIRONMENTAL is on track for a successful third quarter FY2023, with their stock rising and their financial results reflecting their commitment to sustainability and environmental responsibility. The company is well-positioned for continued growth and success in the near-term and long-term future. 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 |
| 507.54 | 17.33 | 4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ceco Environmental. More…
| Operations | Investing | Financing |
| 39.44 | -54.61 | 25.1 |
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 |
| 600.06 | 369.92 | 6.48 |
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 |
| 16.3% | 17.4% | 6.7% |
| FCF Margin | ROE | ROA |
| 6.5% | 9.5% | 3.5% |
Analysis
At GoodWhale, we believe that it’s important to analyse the financials of a company before investing in it. With this in mind, we looked into the financials of CECO ENVIRONMENTAL. Our analysis using the Star Chart showed that CECO ENVIRONMENTAL is strong in growth, medium in asset, profitability and weak in dividend. This means CECO ENVIRONMENTAL is classified as a ‘cheetah’, a type of company we conclude that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Our health score for CECO ENVIRONMENTAL is 8/10 with regard to its cashflows and debt, which indicates that the company is capable to pay off debt and fund future operations. As such, investors who are seeking higher returns from growth companies may find CECO ENVIRONMENTAL attractive. More…
Summary
CECO ENVIRONMENTAL reported strong financial performance for the third quarter of FY2023, posting total revenue of USD 149.4 million, up 37.8% year-over-year, and net income of USD 3.3 million, up 71.6%. Following the announcement, the stock price moved up, indicating that investors were optimistic about the company’s future prospects. Given the strong financials and positive investor sentiment, CECO ENVIRONMENTAL may be a good investment opportunity for long-term investors. It is important to do further research on the company to determine if it is a good fit for individual investment portfolios.
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