CECO Environmental Reaffirmed Its 2024 Guidance: Expects Revenue Of $590M-$610M Vs. Consensus Of $601.138M; Expects Adjusted EBITDA To Be $67M To $70M
Portfolio Pulse from Benzinga Newsdesk
CECO Environmental has reaffirmed its 2024 guidance, expecting revenue of $590M-$610M, in line with consensus estimates, and an Adjusted EBITDA of $67M-$70M. The company anticipates a 10% year-over-year revenue increase and a 20% increase in Adjusted EBITDA, with free cash flow representing 50%-70% of Adjusted EBITDA. This outlook, raised in early March, is supported by a large sales pipeline and potential M&A activities.
April 30, 2024 | 11:46 am
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CECO Environmental reaffirms its 2024 revenue and Adjusted EBITDA guidance, indicating strong future performance and growth prospects.
Reaffirming guidance, especially when it aligns with consensus estimates, typically instills confidence in investors about the company's future performance and growth prospects. The mention of a strong sales pipeline and potential M&A activities further supports the positive outlook, likely leading to a favorable short-term impact on the stock price.
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IMPORTANCE 90
RELEVANCE 100