CECO Environmental Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 07:05 am
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CECO Environmental Corp. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 129.18 million compared to USD 105.38 million a year ago. Net income was USD 3.72 million compared to USD 4.39 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.13 a year ago.
For the six months, sales was USD 241.74 million compared to USD 197.81 million a year ago. Net income was USD 5.7 million compared to USD 7.18 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to USD 0.2 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.