We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 62.7%.
Let’s see how things have shaped up for CECO Environmental this earnings season.
The acquisitions of General Rubber LLC (March 2022), Western Air Ducts Limited (June 2022) and DS21 Co. (September 2022) are expected to have boosted CECO Environmental’s top line in the to-be-reported quarter.
The General Rubber and DS21 Co. buyouts have strengthened the company’s Engineered Systems segment by solidifying its industrial water position and expanding its Effox-Flextor-Mader, Inc. joint venture product offerings. The Western Air Ducts acquisition has expanded CECO’s industrial air product offerings within the Industrial Process Solutions segment.
Strength in thermal acoustics technologies, damper and expansion products, separation and filtration technologies, engineered cyclone systems and industrial water technologies is likely to have aided the Engineered Systems segment.
The Industrial Process Solutions segment is expected to have benefited from increases in all products serving industrial air end markets.
However, a shortage of raw materials, high labor and material costs and supply chain challenges are likely to have dented CECO Environmental’s bottom line. Pricing actions are expected to have partly offset this adversity and aided margins.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for CECO Environmental this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: CECO Environmental has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 20 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CECO Environmental currently carries a Zacks Rank #2.
Highlights of Q3 Earnings
In the third quarter of 2022, CECO Environmental reported earnings of 20 cents per share, which surpassed the Zacks Consensus Estimate of 14 cents. Total revenues of $108 million also outperformed the Zacks Consensus Estimate of $97 million. Both the top and bottom lines increased substantially year over year.
Performance of Some Industrial Stocks
Within the broader Industrial Products sector, the following companies have recently reported earnings numbers.
Parker-Hannifin Corporation (PH - Free Report) , carrying a Zacks Rank #2, reported second-quarter fiscal 2023 (ended Dec 31, 2022) adjusted earnings (excluding $1.72 from non-recurring items) of $4.76 per share, which surpassed the Zacks Consensus Estimate of $4.45. The bottom line improved 6.7% year over year.
Parker-Hannifin’s total revenues of $4,674.8 million also outperformed the Zacks Consensus Estimate of $4,461.5 million. The top line jumped 22.2% year over year. Organic sales for the quarter increased 10.3% year over year. Orders were up 3% year over year.
Xylem (XYL - Free Report) , carrying a Zacks Rank #3, reported fourth-quarter 2022 adjusted earnings (excluding 10 cents from non-recurring items) of 92 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents. The bottom line increased 46% year over year.
Xylem’s revenues of $1,506 million also outperformed the Zacks Consensus Estimate of $1,415 million and rose 13.8% year over year. Organic sales in the quarter rose 20%.
Image: Bigstock
What's in Store for CECO Environmental (CECO) in Q4 Earnings?
CECO Environmental (CECO - Free Report) is scheduled to release fourth-quarter 2022 results on Mar 6 before market open.
The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 62.7%.
Let’s see how things have shaped up for CECO Environmental this earnings season.
CECO Environmental Corp. Price and EPS Surprise
CECO Environmental Corp. price-eps-surprise | CECO Environmental Corp. Quote
Factors to Note
The acquisitions of General Rubber LLC (March 2022), Western Air Ducts Limited (June 2022) and DS21 Co. (September 2022) are expected to have boosted CECO Environmental’s top line in the to-be-reported quarter.
The General Rubber and DS21 Co. buyouts have strengthened the company’s Engineered Systems segment by solidifying its industrial water position and expanding its Effox-Flextor-Mader, Inc. joint venture product offerings. The Western Air Ducts acquisition has expanded CECO’s industrial air product offerings within the Industrial Process Solutions segment.
Strength in thermal acoustics technologies, damper and expansion products, separation and filtration technologies, engineered cyclone systems and industrial water technologies is likely to have aided the Engineered Systems segment.
The Industrial Process Solutions segment is expected to have benefited from increases in all products serving industrial air end markets.
However, a shortage of raw materials, high labor and material costs and supply chain challenges are likely to have dented CECO Environmental’s bottom line. Pricing actions are expected to have partly offset this adversity and aided margins.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for CECO Environmental this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: CECO Environmental has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 20 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CECO Environmental currently carries a Zacks Rank #2.
Highlights of Q3 Earnings
In the third quarter of 2022, CECO Environmental reported earnings of 20 cents per share, which surpassed the Zacks Consensus Estimate of 14 cents. Total revenues of $108 million also outperformed the Zacks Consensus Estimate of $97 million. Both the top and bottom lines increased substantially year over year.
Performance of Some Industrial Stocks
Within the broader Industrial Products sector, the following companies have recently reported earnings numbers.
Parker-Hannifin Corporation (PH - Free Report) , carrying a Zacks Rank #2, reported second-quarter fiscal 2023 (ended Dec 31, 2022) adjusted earnings (excluding $1.72 from non-recurring items) of $4.76 per share, which surpassed the Zacks Consensus Estimate of $4.45. The bottom line improved 6.7% year over year.
Parker-Hannifin’s total revenues of $4,674.8 million also outperformed the Zacks Consensus Estimate of $4,461.5 million. The top line jumped 22.2% year over year. Organic sales for the quarter increased 10.3% year over year. Orders were up 3% year over year.
Xylem (XYL - Free Report) , carrying a Zacks Rank #3, reported fourth-quarter 2022 adjusted earnings (excluding 10 cents from non-recurring items) of 92 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents. The bottom line increased 46% year over year.
Xylem’s revenues of $1,506 million also outperformed the Zacks Consensus Estimate of $1,415 million and rose 13.8% year over year. Organic sales in the quarter rose 20%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.