CECO Environmental Increased FY23 Revenue Guidance To $500M-$525M, Vs $487.32M Consensus (Prior View: Revenues To Exceed $485M)
Portfolio Pulse from Benzinga Newsdesk
CECO Environmental Corp. has increased its FY23 revenue guidance to $500M-$525M, up from the previous expectation of exceeding $485M. The company also updated its FY23 adjusted EBITDA forecast to be between $50M and $55M, a 25% increase at the mid-point year over year.
August 08, 2023 | 11:19 am
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POSITIVE IMPACT
CECO Environmental's updated FY23 revenue and EBITDA guidance, both higher than previous estimates, may positively impact the company's stock in the short term.
CECO Environmental has raised its FY23 revenue and EBITDA guidance, which are both key indicators of a company's financial health. This suggests that the company expects stronger financial performance in FY23 than previously anticipated, which could make the stock more attractive to investors and potentially drive its price up in the short term.
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IMPORTANCE 80
RELEVANCE 100