CECO Environmental Corp. (NASDAQ:CECE) changed -2.29% to recent value of $4.69. The stock transacted 69258 shares during most recent day however it has an average volume of 90.20K shares. It spotted trading -52.34% off 52-week high price. On the other end, the stock has been noted 32.82% away from the low price over the last 52-weeks.
On May 06, 2020, CECO Environmental Corp. (NASDAQ:CECE) a leading global air quality and fluid handling company serving the energy, industrial and other niche markets, declared its financial results for the first quarter 2020.
Highlights of the First Quarter 2020
- Revenue of $80.5 million, compared with $86.0 million
- Gross profit of $28.3 million (35.2% margin), compared with $28.4 million (33.0% margin)
- Operating income of $4.2 million, compared with $4.9 million
- Non-GAAP operating income of $6.3 million, compared with $7.2 million
- Net income was $3.4 million, compared with $1.9 million
- Non-GAAP net income of $5.3 million, compared with $4.1 million
- Net income per diluted share was $0.10, compared with $0.05
- Non-GAAP net income per diluted share of $0.15, compared with $0.12
- Adjusted EBITDA of $7.4 million, compared with $8.5 million
- Bookings of $75.7 million, compared with $97.3 million
- Backlog of $208.9 million, compared with $216.6 million as of December 31, 2019
- Cash and cash equivalents were $82.5 million, compared with $35.6 million as of December 31, 2019
CECO’s Chief Executive Officer Dennis Sadlowski commented, Our first quarter results once again demonstrate our ability to execute despite the accelerating social and economic changes caused by the COVID-19 pandemic. After a very solid start to the year revenue moderated ending down 10% sequentially and 6% year over year. Even with lower revenue, our team’s track record of strong execution produced a healthy gross operating margin of 35%, which is up both sequentially and year over year.
CECE has a gross margin of 33.50% and an operating margin of 5.30% while its profit margin remained 5.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained 296.10% for this year while earning per share for the next 5-years is expected to reach at 15.00%.
The company has 36.83M of outstanding shares and 30.72M shares were floated in the market. According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.20% from the mean of 20 days, -9.60% from mean of 50 days SMA and performed -32.93% from mean of 200 days price. Company’s performance for the week was -6.80%, 5.73% for month and YTD performance remained -37.34%.