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ClearSign Technologies Corporation CLIR announced receiving the follow-on purchase order to retrofit four process heaters with 26 ClearSign Core burners. This is the company's largest order to date.
Details on ClearSign Technologies’ Largest Order
The burners will be installed by the engineering and heater manufacturer Birwelco USA Inc. at the Gulf Coast facility of a Fortune 500 global chemical company. The company received the purchase order for the equipment manufacture and supply.
This order is for the next phase of the project, which was announced with the engineering order in July 2024. The initial phase of this project, including computational flow simulations and detailed engineering, is advancing well.
This project will use ClearSign Technologies’ new flex fuel hydrogen-capable burner technology.
The company expects the final delivery of the burners to be early in the second half of 2025.
CLIR’s Benefits of the Order
This purchase order marks a milestone for the company, as it is the largest order yet in terms of the number of burners and total order value.
With the receipt of this new purchase order, ClearSign Technologies will partner with Zeeco Inc. to manufacture and ship the burners. As the project will utilize the company’s new capable burner technology, it will provide a high-profile reference in the U.S. Gulf Coast once operational.
ClearSign Technologies Q3 Performance
CLIR incurred an adjusted loss of 2 cents per share in third-quarter 2024, narrower than the Zacks Consensus Estimate of a loss of 3 cents. CLIR had incurred a loss of 3 cents in the year-ago quarter.
ClearSign Technologies registered revenues of $1.86 million in the reported quarter compared with $0.09 million in the year-ago quarter. The top line beat the Zacks Consensus Estimate of $1 million.
CLIR’s Price Performance
The company’s shares have gained 2.6% in the past year compared with the industry’s growth of 20.9%.
Image Source: Zacks Investment Research
ClearSign Technologies’ Zacks Rank & Stocks to Consider
CLIR currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Graham Corporation GHM, Federal Signal Corporation FSS and RBC Bearings Incorporated RBC. GHM sports Zacks Rank #1 (Strong Buy), and FSS and RBC have a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Graham has an average trailing four-quarter earnings surprise of 101.85%. The Zacks Consensus Estimate for GHM’s 2024 earnings is pinned at $1.03 per share, which indicates year-over-year growth of 145.2%. The company’s shares have gained 136.8% in a year.
Federal Signal has an average trailing four-quarter earnings surprise of 11.8%. The Zacks Consensus Estimate for FSS’s 2024 earnings is pinned at $3.34 per share, which indicates year-over-year growth of 29.5%. The company’s shares have gained 40% in a year.
The Zacks Consensus Estimate for RBC Bearings’ fiscal 2025 earnings is pegged at $9.80 per share. The company has a trailing four-quarter average earnings surprise of 2.5%. RBC shares have gained 37.5% in a year.