Sign up
Oil Capital

Ceco Environmental rallies after reporting increased bookings in second quarter

It was the third straight quarter that bookings increased, the CEO says
Ceco Environmental specializes in technology to control air pollution

Ceco Environment Corp (NASDAQ:CECE) shares rallied on Wednesday on the back of strong second-quarter earnings and revenue for the company, which uses technology in air pollution control and handling liquid energy.

Ceco said second-quarter revenue hit US$81.1mln, surpassing the consensus estimate of US$74mln. Last year, revenue was at US$93.9mln in the same period. Earnings per share hit US$0.05, matching consensus expectations it would be at US$0.05, and compared to the year-ago figure at US0.08.

Shares gained 15.2% to US$8.01, having touched a session peak of US$8.24.

Chief Executive Dennis Sadlowski said bookings exceeded US$100mln for the first time in two years and the backlog in orders was at US$200mln. It was the third successive quarter that bookings increased. Bookings reached US$87.2mln in the same period a year ago.

CECO Environmental is a leading global air quality and fluid handling company serving the energy, industrial and other niche markets,

Contact Rene Pastor at [email protected]

Register here to be notified of future Company articles
View full profile View Profile
View All

© oil Capital 2019

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.