ADDISON, Texas (AP) — ADDISON, Texas (AP) — CECO Environmental Corp. (CECO) on Tuesday reported first-quarter profit of $36 million.
On a per-share basis, the Addison, Texas-based company said it had profit of 98 cents. Earnings, adjusted for one-time gains and costs, were 10 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 10 cents per share.
The maker of air pollution controls and industrial ventilation systems posted revenue of $176.7 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $151.3 million.
CECO expects full-year revenue in the range of $700 million to $750 million.
CECO shares have fallen 36% since the beginning of the year. The stock has decreased 24% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CECO at https://www.zacks.com/ap/CECO
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.