Environmental solutions provider CECO Environmental (NASDAQ: CECO) will be reporting earnings this Tuesday before market open. Here’s what you need to know.
CECO Environmental beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $185.4 million, up 34.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS and revenue estimates.
Is CECO Environmental a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting CECO Environmental’s revenue to grow 40.7% year on year to $190.6 million, a reversal from the 9.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CECO Environmental has missed Wall Street’s revenue estimates three times over the last two years.
Looking at CECO Environmental’s peers in the business services & supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. UniFirst’s revenues decreased 4% year on year, beating analysts’ expectations by 1.1%, and Cintas reported revenues up 8.7%, topping estimates by 0.9%. UniFirst traded down 10.2% following the results while Cintas’s stock price was unchanged.
Read our full analysis of UniFirst’s results here and Cintas’s results here.
Investors in the business services & supplies segment have had steady hands going into earnings, with share prices flat over the last month. CECO Environmental is up 3.7% during the same time and is heading into earnings with an average analyst price target of $53 (compared to the current share price of $52.16).
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