CECO Environmental Corp
) won several new orders across the world worth $15.6 million.
These new orders came in primarily from natural gas, traditional
utilities, petrochemicals, refineries, pharmaceutical,
automotive, municipalities and metals and mining.
The air pollution control and industrial ventilation products
enjoy a multi-billion dollar market that is still growing at a
rapid pace. The demand for clean air, water and an environment
that is free from industrial pollutants further help in the
growth of these products. More and more businesses are paying
serious attention to environmental protection, as a result of the
increasing requirement to comply with stringent environmental
regulations becoming mandatory both in the U.S. and globally.
Given the strong growth rate of the pollution control market,
CECO Environmental completed two strategic acquisitions in fiscal
2013 to further strengthen itself in the product recovery,
pollution control and fluid handling and filtration solutions
across multiple diversified end markets. This apart, the company
also has a strong presence in the natural gas turbine exhaust
systems and silencer applications.
Prior to this, in Dec 2013, the company had received a similar
bulk order valued at $13 million, primarily from alternative
fuels, oil refineries, automotive, energy, municipalities and
metals located in the U.S., Mexico and the Middle East.
In the last-reported third quarter of 2013, the company
reported earnings of 24 cents, which were 9% above the Zacks
Consensus Estimate and were up 26.3% year over year. Revenues for
the quarter were also up 50.4% to $49.8 million, primarily driven
by acquisitions. The company expects to report its fourth-quarter
results on Feb 27, 2014.
CECO Environmental is a leading provider of air pollution
control technology globally. Currently, the company has a Zacks
Rank #3 (Hold). Other stocks in the industry that are worth
considering at the moment are
Sharps Compliance Corp
Pure Cycle Corp
Tetra Tech Inc
). Sharps Compliance carries a Zacks Rank #1 (Strong Buy) while
Pure Cycle and Tetra Tech carry a Zacks Rank #2 (Buy).
CECO ENVIRNMNTL (CECE): Free Stock Analysis
PURE CYCLE CORP (PCYO): Free Stock Analysis
SHARPS COMPLIAN (SMED): Free Stock Analysis
TETRA TECH NEW (TTEK): Free Stock Analysis
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