CECO Environmental shares are trading lower after the company reported worse-than-expected Q2 revenue results and raised its FY24 revenue guidance above estimates.
Portfolio Pulse from Benzinga Newsdesk
CECO Environmental shares are trading lower after the company reported worse-than-expected Q2 revenue results but raised its FY24 revenue guidance above estimates.
July 30, 2024 | 4:37 pm
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NEGATIVE IMPACT
CECO Environmental shares are trading lower due to disappointing Q2 revenue results, despite the company raising its FY24 revenue guidance above estimates.
The immediate market reaction to the worse-than-expected Q2 revenue results is negative, causing the stock to trade lower. However, the raised FY24 revenue guidance could mitigate some of the negative sentiment in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100