CECO Environmental Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 07:04 am EST
Share
CECO Environmental Corp. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 149.39 million compared to USD 108.41 million a year ago. Net income was USD 3.33 million compared to USD 1.94 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.06 a year ago.
For the nine months, sales was USD 391.13 million compared to USD 306.23 million a year ago. Net income was USD 9.03 million compared to USD 9.12 million a year ago. Basic earnings per share from continuing operations was USD 0.26 compared to USD 0.26 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to USD 0.26 a year ago.
CECO Environmental Corp. is an environmentally focused, diversified industrial company. The Companyâs segments include Engineered Systems, which serves the power generation, hydrocarbon processing, water/wastewater treatment, oily water separation and treatment, marine and naval vessels, and midstream oil and gas sectors. The segment offers environmental and equipment protection solutions with its highly engineered platforms, including emissions control, fluid bed cyclones, thermal acoustics, separation and filtration, and dampers and expansion joints, and Industrial Process Solutions segment, which serves the industrial sector with solutions for air pollution and contamination control, fluid handling, and process filtration in applications such as aluminum beverage can production, automobile production, food and beverage processing, semiconductor fabrication, electronics production, steel and aluminum mill processing, wood manufacturing, desalination, and aquaculture markets.