CECO Environmental Raised 2024 Guidance For Revenue To $600M-$620M (From $590M-$610M) Vs. Consensus Of $596.706M, Adjusted EBITDA To $68M-$72M (From $67M To $70M)
Portfolio Pulse from Benzinga Newsdesk
CECO Environmental has raised its 2024 revenue guidance to $600M-$620M from $590M-$610M and adjusted EBITDA to $68M-$72M from $67M-$70M. This reflects a 12% increase in revenue and a 21% increase in adjusted EBITDA at the midpoint of the range. The company maintains its full-year outlook for free cash flow of 50%-70% of adjusted EBITDA.
July 30, 2024 | 11:04 am
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POSITIVE IMPACT
CECO Environmental has raised its 2024 revenue guidance to $600M-$620M and adjusted EBITDA to $68M-$72M, indicating strong growth prospects. This positive revision is likely to boost investor confidence and positively impact the stock price in the short term.
The upward revision in revenue and adjusted EBITDA guidance indicates strong business performance and growth prospects for CECO Environmental. This is likely to enhance investor sentiment and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100