CECO Environmental Corp (NASDAQ: CECO) posted better-than-expected fourth-quarter financial results and raised guidance on Tuesday.
CECO Environmental posted adjusted earnings of 28 cents per share, beating market estimates of 24 cents per share. The company’s quarterly sales came in at $153.71 million versus expectations of $146.61 million, according to data from Benzinga Pro.
“We continued to deliver successful results during the fourth quarter as our operating model produced record-breaking revenues, gross profits and adjusted EBITDA as well as strong free cash flow. We exit 2023 with a strong backlog and enter 2024 with a significant sales pursuit pipeline,” said CECO Chief Executive …