Shares of CECO Environmental Corp (CECO) surged 10.68% in the pre-market trading session on Tuesday, following the company's better-than-expected fourth quarter 2024 earnings results. The stock movement signaled a revival of investor confidence in the air pollution control systems provider.
For the fourth quarter ended December 31, 2024, CECO reported adjusted earnings per share of $0.27, beating analysts' consensus estimate of $0.26. However, the company's revenue of $158.57 million slightly missed expectations of $159.75 million. Despite the revenue miss, CECO provided bullish revenue guidance for the full year 2025, forecasting revenue in the range of $700 million to $750 million, reflecting strong anticipated growth.
The pre-market surge represents a sharp reversal from the past year, with CECO shares having fallen 25% since the start of 2024. The company's Q4 results and forward guidance appear to have renewed investor confidence in its growth prospects, driving the stock's double-digit percentage gain.
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